Magazine article American Banker

Comerica Check-Image Service a Fee Generator

Magazine article American Banker

Comerica Check-Image Service a Fee Generator

Article excerpt

Comerica Inc. has begun offering its commercial customers digital images of the checks its corporate customers deposit into their accounts.

Many banks make images of the checks their business and consumer customers write. Observers say Comerica's deposited-item service is another example of fee-generating capabilities that banks are developing to take advantage of their investments in image technology.

Daniel J. McCarty, the senior vice president of treasury management services at Comerica Bank, said the company had received numerous requests for this type of service. "I think we're responding to customer demand," he said.

Comerica is developing several other image products for its corporate clients, Mr. McCarty said.

"On the commercial side, clearly there are many opportunities" to create for-fee services using image technology, he said.

The deposited-item service, announced Monday, is offered through Comerica's NetVision online banking and cash management system.

The service could help businesses resolve customer disputes and view deposits made to Comerica from multiple locations or from their own in-house lockbox shops, Mr. McCarty said.

Comerica, which operates its check archive in-house, began capturing digital images in 1994 and now has a seven-year "all-items" archive. The archive includes checks of Comerica customers and those from other banks that are deposited to accounts of Comerica customers.

The $53.5 billion-asset company said it will make deposited items available for 90 days to companies that subscribe to the service. Mr. McCarty said there will be a subscription fee and a per-item charge (he would not give the amounts).

Customers can access the images online, and Comerica said the self-service option would be cost-effective for people who request more than seven deposited items a month. …

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