Metavante Corporation, the financial technology subsidiary of Marshall & Ilsley Corporation (NYSE:MI), today announced that its has teamed with ARGO Data Resource Corporation (ARGO), a leading provider of branch automation software, to deliver an integrated, end-to-end teller and branch image-capture solution for financial institutions.
The partnership positions Metavante subsidiaries, Advanced Financial Solutions (AFS) and VECTORsgi, to seamlessly integrate their branch capture solutions with ARGO's BANKPRO Teller solution combining traditional online teller transaction processing with check image capture and transaction balancing at the point of presentment. This solution goes beyond typical partnerships between payment processors and branch teller software providers. Instead of merely embedding a separate item capture screen into a non-image based transaction flow, this solution is more tightly integrated with the traditional teller workflow, bringing full functionality to the retail branch.
The AFS/VECTORsgi – ARGO BANKPRO Teller Distributed Image Capture solution provides retail branches with several new key features and functionality, including data perfection, declared value processing, image enhanced remote supervisor override and electronic journal, independent off-line processing, a split of on-us and transit items, and a consolidated check image repository, regardless of the physical check capture location.
The solution can be implemented with minimal impact to branch operations and will require minimal training. Additional benefits of the integrated solution include enhanced fraud detection, and improved float management and funds availability.
"To remain competitive in the post Check 21 image-based processing environment, it is important for financial institutions to capture and truncate check transactions as early in the clearing process as possible," said Paul Danola, president and chief operating officer, Metavante Financial Solutions Group. "The AFS/VECTORsgi – ARGO BANKPRO Teller Distributed Image Capture solution will streamline the workflow for check image capture, transaction balancing, and clearing. This solution will facilitate the electronic presentment of transit items, increase productivity, optimize accuracy, lower operating costs, and open up opportunities for new value-added services."
"This partnership will benefit almost 90 percent of the top U.S. banks that already rely on one or more of our solutions. The benefits to our combined customer base include faster deployment, lower risk, increased functionality, as well as minimized training impact for end-users," said Max Martin, chief executive officer of ARGO Data Resource Corporation.