The new check capture solution will have a direct impact on a bank's preparedness for Check 21, because it will allow the financial institutions to send and receive images of checks instead of paper checks. Standardizing communications will help banks apply business rules and policies, regardless of the hardware device.

VECTORsgi is a leading provider of financial transaction applications that automate key internal processes including check imaging, check image exchange, electronic payments and other transaction processes for financial institutions. The company's solutions are in 71 of the top 100 banks in the United States.

Dave Medeiros of Tower Group believes the cost savings associated with implementing a distributed Check 21 processing environment can be staggering. "The key for banks is virtual capture which requires the application of systems and processes to validate, correct and manage check images as if they were captured in their own processing centers," said Medeiros. "VECTORsgi has developed a reputation for improving the quality of image capture and management of images."

"The patent is further validation that VECTORsgi provides the solutions that empower financial institutions to solve business challenges associated with transaction processing," said Sydney Smith Hicks, Ph.D. and chief executive officer of VECTORsgi. "Whether banks want to capture images at the teller line, behind the teller line or through a centralized environment, our technology accelerates the transfer of images, no matter what system is being used."

VECTOR:Capture for Prime Pass enables financial institutions to uniformly apply business rules, such as verifying data and image quality, across the company. As an example, fraud rules can help banks identify fraudulent items earlier in the processing cycle.