Dove Consulting estimates that check volumes will decrease by 10 percent between 2000 and 2010 due to card usage, automated clearing house (ACH) payments, check conversion and check truncation.
As a result of this declining check volume and the Federal Reserve Bank's decision to move away from paper check processing, financial institutions are experiencing increased per item operating costs associated with check processing.
Diebold, Incorporated (NYSE: DBD) is announcing its ImageWay distributed capture solution set that enables financial institutions to quickly implement a cost effective imaging model that minimizes the need for infrastructure investments. Diebold's ImageWay ATM, merchant and branch capture solutions allow financial institutions to seamlessly integrate image processing into their existing environment or use Diebold for a full outsourced solution. Complementary solutions under the ImageWay name include payment processing, document imaging and archiving, and compliance monitoring services.
As part of Diebold's strategic initiative to offer an end-to-end imaging solution, the company acquired Eras, an image processing technology firm based in Miami, Fla., in 2006. Since 1988, Eras has been creating and implementing advanced solutions for the everyday operational hurdles faced by the banking community. The Diebold Eras solution allows Diebold to be a full-service Check 21 technology provider with proven implementations of image-based item processing and archiving.
"Bringing these types of comprehensive solutions to market allows Diebold to continue to address the challenges our customers face," said Chuck Ducey, Diebold senior vice president of Global Development and Services. "As a full- service imaging provider we offer our customers the flexibility to install our software in-house, utilize our Application Service Provider (ASP) hosted service model, or mix and match among our solutions."