Emprise Bank automates lockbox processing with Fiserv
11 January 2006 | 2415 views | 0
By completely automating its lockbox processing, $806 million Emprise Bank in Wichita, Kan., is not only bringing in new business, but also increasing staff productivity and efficiency.
To achieve those results, the bank implemented Paydata.NET, a comprehensive remittance and lockbox processing solution from the Information Technology, Inc. (ITI) unit of Fiserv, Inc. (Nasdaq:FISV).
Paydata.NET (based on Microsoft's .NET platform) has the unique ability to concurrently process all types of lockbox payments, including retail, wholesale and wholetail, automatically on one platform. There is no need for separate software applications. This flexibility and efficiency also contribute to increased staff productivity.
"Concurrent processing has enabled us to reduce staff oversight of individual lockboxes and take advantage of the time savings in high-volume processing," said Carolyn Morton, Emprise Bank vice president and information system services manager. "We're confident staff productivity will continue to increase as new customers are added."
Used in conjunction with ITI's Director Check Image application, Paydata.NET provides a single-pass solution that simultaneously feeds the lockbox system and image archive while creating a transaction posting file.
"We're able to offer our clients a significant competitive advantage by eliminating the time-consuming process of handling items multiple times," said Brian Schwanebeck, ITI senior vice president and general manager of the Digital Solutions document management operating unit. "Streamlining the remittance and lockbox process is just another way we can help bankers better serve their customers."
"This solution helps us compete against larger banks by offering features like high-quality images and accessibility through our business Internet banking product - all at competitive prices," added Morton. "Not only are we gaining new customers, but we're also looking forward to converting our existing customer base to this service."