BISYS Information Services today announced that BancorpSouth, Inc. has gone live using the ISeDeposit solution for point-of-presentation electronic deposits.
The BISYS solution enables BancorpSouth's commercial and corporate customers to make deposits without ever leaving the office, thereby streamlining the deposit process and eliminating costly courier expenses.
BancorpSouth's first electronic deposit customer is a major retail chain operating in most states across the country. The retailer is implementing the ISeDeposit solution so its nearly 500 retail outlets can make daily electronic deposits rather than physically transporting the checks to local banking facilities. All of the retailer's outlets will house a tabletop capture device to scan customer checks. BISYS' recognition engines will then pick up the check information, and the daily deposit will be made and balanced electronically.
Bill Gully, first vice president of BancorpSouth, said: "Since upgrading all seven of our check processing centers to BISYS' IS Check 2005 imaging platform last year, we no longer have to transport checks. Electronic deposit for our commercial customers is the next logical step. Our retail clients can save hundreds of thousands of dollars in transportation costs, experience increased operational efficiency from handling balanced image files, and have the ability to pass some of the savings on to their customers."
Mark Ryan, executive vice president and general manager of BISYS Document Solutions, said: "BancorpSouth is the first BISYS client to deploy electronic deposits on a grand scale, but we have more than a dozen other clients using BISYS' electronic deposit solution. We are extremely pleased that our banks are taking advantage of this technology to streamline their operations and achieve significant cost savings for themselves and their customers."