Magazine article American Banker

Broadway Rolls out Check Imaging System for Community Banks

Magazine article American Banker

Broadway Rolls out Check Imaging System for Community Banks

Article excerpt

Broadway & Seymour Inc. announced that it has developed check imaging software aimed at boosting the back-office efficiency of community banks. The software, called VisualImpact, provides image "proof of deposit," statement generation, and check archival functions.

Future applications will include remittance processing, wholesale/retail lockbox, and corporate cash management options.

Two Texas banks will test the product in April, and it is scheduled to be generally available in June, according to Broadway & Seymour officials.

The system, which operates in a client/server environment, takes aim at an industry that is rapidly adopting imaging for such paper-intensive activities as check processing and loan origination.

According to research published by Ernst & Young and the American Bankers Association - which polled the top 100 U.S. bank holding companies - the majority of respondents are already using imaging, or plan to use the technology, in those areas.

In 10 years, Ernst & Young predicts, imaging will help eliminate much of the costly back-office paper processing.

Through the elimination of paper, banks have found that imaging can reduce check processing costs by 20% to 30%.

Both Broadway & Seymour officials said they believe imaging is not just for big banks.

Keith Sides, director of sales and marketing at Charlotte, N.C.- based Broadway & Seymour, said that in the community bank marketplace, there is a lot of activity to move to full image processing for both proof-of-deposit, or POD, and statement generation functions. …

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