Software Earnings, a leader in developing check and image processing technologies and services for the financial industry, announced that KeyBank has contracted for a check image solution to streamline the bank's cash vault operations.
Utilizing Software Earnings' Offline Check Optimization solution in a hub and spoke model, KeyBank will key and balance the work at the cash vault locations and process the resulting X9.37 files through their virtual item processing center.
Leveraging the bank's existing Software Earnings Enterprise Image Solutions (EIS) platform and existing Orbograph Reco infrastructure to provide image based capture, keying, and balancing, the cost of ground transportation between cash vaults and item processing centers will be eliminated. Each cash vault will have capture devices connected to the server to perform the capture passes. Reco will run at the centralized location, with Codeline Correction performed at the Spoke (Cash Vault), Hub (IP Site), or other decentralized locations. Likewise, image based balancing via Software Earnings' Enterprise Transaction Suite (ETS) may be performed either at the spoke or the hub.
"Image enabling our cash vaults is an integral part of our overall payments processing strategy. We will offer our clients greater processing efficiencies that seamlessly complement our suite of remote capture solutions. The Software Earnings platform will enable KeyBank's cash vaults to capture transactions where they enter the Bank, and be scalable enough to handle a wide range of volumes. This capability is a win for KeyBank and our clients," stated Ann Guess, vice president of KeyBank Cash Vault Services. "We will be looking ahead for more opportunities to leverage this value-added system for existing and new clients."
"Because KeyBank has significant experience and success with our EIS platform and ETS solution, they can be aggressive in the implementation of the new Cash Vault workflow and realizing the associated cost reductions and improved efficiency," stated Greg Sherrill, Software Earnings COO.