Fiserv launches Web-based cheque capture and processing system

Source: Fiserv

Fiserv (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced the launch of Central Source Capture, a web-based, end-to-end check capture and processing solution.

With Central Source Capture from Fiserv, financial institutions are able to scale their check processing solution to meet demand while also capturing check images and data and routing each item for posting or distribution based on rules established by the institution.

"Even though check volumes continue to decline, check processing is still a necessary and important function for financial institutions. Unfortunately, many of the legacy, centralized check processing systems have become antiquated, making them costly, complex systems to maintain," said Gary Brand, director, Source Capture Solutions, Fiserv. "With Central Source Capture from Fiserv we are giving financial institutions a modern, cost effective item processing solution so that they can focus their resources on other areas within their institution where demand is growing."

Designed for use by large financial institutions, Central Source Capture automates all aspects of the item processing operation including capture, data perfection, electronic cash lettering, clearing, settlement and outputs to posting and image archive. This reduces the need for specialized resources to manage the movement of paper checks. Additionally, Central Source Capture integrates seamlessly with core account processing systems and remote capture applications to provide an end-to-end image exchange workflow regardless of the point of capture. This includes integration with the Fiserv suite of Source Capture Solutions, which is made up of solutions such as Mobile Source Capture, ATM Source Capture, Branch Source Capture and Merchant Source Capture.

"We believe Central Source Capture is ideally suited to current market needs, and we already have two clients implementing the service," said Brand.

"With the pace of change accelerating, financial institutions are faced with resource challenges. A solution that helps financial institutions streamline item processing functions can free up time and money to dedicate toward strategic initiatives," said Bob Meara, Senior Analyst, Celent.

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