FirstMerit Bank licenses Captiva document management software

Captiva Software Corporation, (NASDAQ:CPTV) a leading provider of input management solutions, today announced that FirstMerit Bank, a diversified financial services company, has selected Captiva's Digital Mailroom, InputAccel and FormWare software to create a comprehensive solution to capture and process payment documents.

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The value of the contract to Captiva exceeds $300,000.

FirstMerit will initially implement the solution in its wholesale lockbox operation to automatically capture, classify and route documents such as cheques, remittance coupons and invoices that enter the operation for payment processing. 20,000 structured, semi-structured and unstructured documents arrive daily at the operation, where FirstMerit collects and processes payment transactions for its corporate banking customers.

Utilising advanced optical character recognition (OCR) technologies, Captiva's input management solution identifies the type of document and then extracts, perfects and exports the critical information to line-of-business databases and an enterprise content management (ECM) system, where FirstMerit customers have secure, on-line access to the information. By converting the lockbox operations from cumbersome paper-based processes to a highly automated digital process, FirstMerit will efficiently and accurately process more payment transactions without increasing staff size.

"One of the reasons FirstMerit chose Captiva's enterprise input management solution rather than a lockbox-specific product is the ease with which our solution can be scaled to the enterprise level," said Howard Dratler, Executive Vice President of Field Operations for Captiva. "FirstMerit executives hope to leverage their investment by expanding our solution to other paper-intensive areas of the business such as loan processing and signature cards. Doing so should further streamline operations, improve efficiencies and cut costs."

The Digital Mailroom is automated classification and routing software for digitised images of inbound mail and electronic communications. InputAccel is Captiva's award-winning document capture software and FormWare® is Captiva's flagship forms processing software. By delivering accurate, timely and usable data to enterprise applications, Captiva's input management solutions offer users reduced operational costs, improved information quality and accelerated business processes.

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