LaSalle Bank Corporation, based in Chicago, will implement the industry-leading OPEN SCAN lockbox module to optimize processing of wholesale exception payments.
Open Scan Technologies, Inc., a pioneer in exception automation software, along with business partner Cash Management Systems of Clearwater, Fla., will allow LaSalle Bank's customers to create a more efficient cash management environment.
"OPEN SCAN's technology allows LaSalle Bank to seamlessly integrate exception automation within our existing wholesale lockbox processing environment," said Matt Boatman, senior vice president of Receivables Management at LaSalle Bank. "As LaSalle Bank works to further accelerate our clients' receivables and their access to business critical information, OPEN SCAN gives us the flexibility to handle a complete range of remittance documents with even greater accuracy."
OPEN SCAN's lockbox technology provides the highest level of data capture accuracy while offering a user-friendly Web-based client interface. "The OPEN SCAN lockbox solution helps reduce the manual keystroke time of many of LaSalle's wholesale jobs, therefore opening the door for enhanced client servicing and product offerings," said Nadine Lange, president and CEO of OPEN SCAN. "Until now, lockbox service providers had no choice but to replace or upgrade their entire processing systems to improve exception processing. Now, with the OPEN SCAN plug-in module, providers can deliver more data content to clients, enhancing their treasury and cash management capabilities."
The lockbox module that LaSalle Bank will utilize is the only system industry wide that can be inserted into any lockbox environment without interruption to the currently implemented system. The OPEN SCAN lockbox module imports electronic check and remittance images directly from any hardware or application source. Data is automatically captured, validated and balanced, then delivered back to the main lockbox workflow seamlessly in a variety of formats, including XML.