Magazine article American Banker

Unisys Signs Two Imaging Pacts; Newtrend, Payment Systems in Proof-of-Deposit Effort

Magazine article American Banker

Unisys Signs Two Imaging Pacts; Newtrend, Payment Systems in Proof-of-Deposit Effort

Article excerpt

Newtrend, Payment Systems in Proof-of-Deposit Effort

DENVER -- Underscoring its lead in a key aspect of check-image processing, Unisys Corp. on Monday announced a pair of marketing and development agreements with software companies.

Unisys' pacts with Newtrend Group and Payment Systems Technology and Consulting, both covering proof-of-deposit systems, were the first significant vendor announcements at the American Bankers Association's National Operations and Automation Conference, which runs through Wednesday.

In the race for an image-based proof-of-deposit system, Unisys is ahead of International Business Machines Corp., which is now testing its version of the system that extends the benefits of the back-office technology.

Labor Costs Slashed

According to Unisys and representatives from the few financial institutions that have installed the technology, an image-based proof-of-deposit system reduces labor costs in check handling by up to 45%.

But perhaps more important, experts believe that some financial institutions will be able to almost double those savings by integrating the check images with applications outside the check processing area.

The new agreements represent Unisys' effort to allow financial institutions to use data from an image proof-of-deposit system without having to revamp existing data processing systems.

"The idea is to protect banks' investment in other software by formatting the [image] data so that it looks like it's flowing through today's systems," said Joe Brown, a Unisys executive. …

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