Magazine article American Banker

Kansas Home Loan Bank to Offer Image Processing

Magazine article American Banker

Kansas Home Loan Bank to Offer Image Processing

Article excerpt

The Federal Home Loan Bank of Topeka, Kan., is installing a system that will let clients of its check processing services deliver image-based statements to their customers.

The home loan bank has invested $2.5 million in the technology, signing contracts with Advanced Financial Solutions, for its ImageVision software, and with Recognition International, for its reader-sorters.

In doing so, it joins a parade of more than 300 institutions and

processors that have bought check-image systems in recent years.

The systems - which use special cameras to create digitized images of checks - aim to improve efficiency by reducing the paper involved in various check processing functions, including statement rendering and proof of deposit.

The Topeka Home Loan Bank, which processes checks for about 150

financial institutions in Colorado, Kansas, Nebraska, and Oklahoma, will begin producing image statements in its Topeka processing center in the third quarter.

After the initial installation, the technology will be phased in at sites in Oklahoma City, Omaha, and Denver at 90-day intervals.

The bank considered installing imaging systems five years ago. But financial institutions' interest in the technology was insufficient then, said Robert Mackey, senior vice president of operations at the Topeka Home Loan Bank, and the equipment was too costly.

An increase in customer demand for image-based services, combined with more affordable equipment, led the bank to reevaluate using the technology. More than 50 of the bank's customers have shown an interest. …

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