BancTec, a global provider of advanced, high-volume, document and payment processing services and solutions, has signed a three-year agreement with Allied Irish Banks (AIB) to image-enable AIB's cheque clearing system with an online archive and retrieval solution.
The automated solution replaces AIB's legacy microfilm system.
"BancTec has developed a robust archive and retrieval solution that will significantly increase the efficiency of our clearing operation," said Donal Coogan, Clearing Operations Manager, AIB. "This managed service will deliver operational efficiencies, reduce operational risk and help us deliver better customer service."
AIB has been a BancTec customer since 1994, when it originally purchased a cheque processing system. To deliver the business benefits sought by AIB, BancTec is upgrading the scanning system's image cameras in order to capture the fidelity required by an online system. In addition, BancTec's eFIRST(TM) solutions are being utilised to capture and store the cheque images, which will reside in a BancTec-hosted and managed archive. When fully operational, AIB personnel will be able to access online cheque images, replacing the time-consuming process of looking up cheques on microfilm.
"AIB's need to improve the efficiency of its check clearing and archive process is a common one among large, multi-national financial institutions," said Steve Downey, General Manager, BancTec Ltd. "Our experience delivering leading edge capabilities in a managed-service environment was a perfect fit for AIB's requirements. We look forward to expanding the capabilities of this solution as AIB expands its business."