Endpoint Exchange LLC, a Metavante company, and Viewpointe, of Charlotte, N.C., today announced they are establishing system connectivity to enable the electronic exchange of check data and images between their respective member financial institutions, with settlement through The National Clearing House (NCHA).
The industry connection will dramatically accelerate the adoption of check truncation and image exchange.
The combined reach of Viewpointe, a leading provider of check image and "Check 21" related services to the nation's top financial institutions and the Endpoint Exchange Network, which provides network services to over 4,000 financial institutions across the U.S., will provide a gateway for large volume check image exchange. This collaborative relationship will enhance the productivity and efficiency of the national check clearing and settlement system.
"We look forward to begin exchanging with Viewpointe members," said Paul Danola, president and chief operating officer, Metavante Financial Solutions Group. "Both of our companies provide image exchange on a national scale and are fully committed to improving check processes through image exchange."
All members of both Endpoint and Viewpointe will be able to take advantage of this increased connectivity. One of the largest Viewpointe members, Bank of America, will be first in line to implement.
"Providing expanded industry reach for our membership is one of Viewpointe's highest priorities. The connection with Endpoint enables our members to further optimize their existing Viewpointe relationship by providing a considerable expansion of the number of financial institutions with which they can exchange," stated Lou Buglioli, Viewpointe's chief executive officer.
The agreement between Endpoint Exchange and Viewpointe leverages the skills and assets of two industry leaders with common interests -- the move toward check truncation and nationwide image exchange for electronic clearing and settlement.
"Providing settlement for these industry leaders furthers our strategic goal to improve the efficiency of the payments system," stated Glenn Wheeler, NCHA's co-general manager.