CIB Marine Bancshares licenses Fidelity cheque imaging technology

Source: Fidelity National Financial

Fidelity National Financial, Inc. (NYSE: FNF), a Fortune 500 provider of products and outsourced services and solutions to financial institutions and the real estate industry, and its Fidelity Information Services ("Fidelity") division announced today that CIB Marine Bancshares, Inc. (CIB Marine) will implement Fidelity's ImageCentre, Branch Capture Xpress and Voyager check imaging solutions across its network of 41 banking offices located throughout Wisconsin, Illinois, Indiana, Nebraska, Nevada, Arizona and Florida.

With such significant geographical dispersion, the multi-bank holding company determined that implementing a centralized image capture solution was not practical or economical, and the option of establishing regional item processing centers was not justifiable. Ultimately, a combination of factors led to the development of a business case that includes branch image capture technology, Check 21 Legislation (substitute check creation) and image exchange.

"While we have been exploring check imaging for a number of years, our widespread network of banking offices historically made this enterprise decision simply cost prohibitive," said Mike Rechkemmer, EVP and COO of CIB Marine Bancshares. "The solution offered by Fidelity matches our needs perfectly, and we anticipate that this leading-edge technology will help us improve customer service, expand our product portfolio and reduce our non- interest expenses."

CIB Marine Bancshares will install Fidelity's Branch Capture Xpress for remote image capture at each banking office in concert with a centralized solution using ImageCentre for processing, courtesy amount recognition, legal amount recognition, keying and archival. Additionally, Fidelity's Voyager will enable electronic check image exchange, image in-clearings, substitute check creation, return file presentment and the elimination of the exception item pull (EIP) and item processing couriers.

"With such unique system requirements, our integrated suite of browser-based payment processing solutions will not only meet the client's needs, it will also provide the lowest total cost of ownership and deployment," said Bob Darty, group executive for Fidelity's Integrated Financial Solutions division. "As the payment industry evolves from paper-based to electronic transactions, our integrated solutions provide financial institutions with the strategic infrastructure to support image processing, image exchange, image archive, distributive image capture, substitute check creation and other means of payment electronification."

Comments: (0)