Magazine article American Banker

Low-Cost Imaging System Gives Bank's Printers a Rest

Magazine article American Banker

Low-Cost Imaging System Gives Bank's Printers a Rest

Article excerpt

Low-Cost Imaging System Gives Bank's Printers a Rest

Image processing systems are often too steeply priced for many community banks, but one Wisconsin institution has found a low-cost solution.

Mid Wisconsin Financial Services Inc. has implemented the first stage of a three-part plan to replace paper reports and documents with electronic images. Optical disks for computers can store vast amounts of data and resemble compact disks used for recorded music.

Mid Wisconsin, a $230 million-asset bank holding company based in Medford, runs three community banks in the central part of the state. The company has installed a system that eliminates the printing of 75 to 100 reports a day.

Reams of Savings

New software is used to record information that goes into trial balances, interest accrual reports, statements, and other documents ranging in size from a few pages to hundreds of pages.

Instead of sending documents to a printer, as was the old procedure, the software indexes directly from the host computer, an IBM System/36, and sends the recorded data to an optical disk storage system. Reports can be downloaded to any desktop computer in the bank.

The software, called Spoolview, is from DataTradeInc., Springfield, Mo.

The system not only eliminates paper but also simplifies document retrieval.

"The retrieval part is not giving us the benefits today that it will years from now," said Luccille Brandner, executive vice president. …

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