KeyBank selects Hyland Software's OnBase for treasury management

Source: Hyland Software

Hyland Software, Inc. announced today that KeyBank has selected its OnBase solution to more efficiently manage ARP operations.

The solution automatically updates and synchronizes data between the bank's existing CheckFree ARP/SMS system from CheckFree Corporation (Nasdaq: CKFR) and Mobius ViewDirect TCM Repository. Hyland is the developer of the OnBase enterprise content management (ECM) software suite.

Clients using Key's ARP and Positive Pay services directly benefit from this solution since it allows them more time to make a positive or negative pay decision, presents them with only true exceptions to decision and provides the ability to more readily view images of items listed on their ARP reports. Customer service is further enhanced as ARP statements are created and delivered more quickly, and with a higher level of accuracy. Clients also benefit from the transactional content processing capabilities of the OnBase solution as KeyBank can more efficiently address assumed fraudulent items and support account-specific requirements.

"The OnBase solution has exceeded our expectations," said Jim Criniti, vice president, payment deposit services with KeyBank. "It supports our ongoing goals of improving service levels, increasing productivity, enhancing our product offering and providing premier ARP and Positive Pay Services to our corporate clients."

"The strategic relationship between Hyland and CheckFree has created an integrated risk management and fraud prevention solution, leveraging market-leading positive pay, imaging, workflow and reconciliation capabilities," said Jason King, financial services industry manager at Hyland. "As a result, financial institutions, such as KeyBank, are able to acquire new business, protect current business, improve margins and rapidly gain competitive advantage in the areas of quality, time, service levels and unit costs."

"Increasing efficiency, quality and revenue is a mantra for banks," said Maggie Scarborough, research manager, Corporate Banking Practice at Financial Insights, an IDC Company. "KeyBank does all three: reduces resources and gets processing information to clients sooner, improves quality by linking processes and differentiates the bank - a great way to retain and generate revenues."

"The addition of Hyland's OnBase software platform adds incremental value to a bank's deployment of the CheckFree ARP/SMS solution by incorporating strong workflow automation that leverages ongoing investments in check image capture for treasury management clients," said Denny Oswalt, senior vice president, Global Banking for CheckFree Software. "We look forward to extending the combined CheckFree-Hyland solution to other financial institutions as we strengthen our relationship."

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