Central Jersey Saving Money with Optical Disk System
Tucker, Tracey, American Banker
Central Jersey Bank says an optical disk system it installed a year ago for data storage has saved over $90,000 in loan and account processing costs.
The $1.7 billion-asset institution, based in Freehold, is using PCI/Reports Archival, made by Protocorp International, headquartered in Monroe, N.C. The system not only reduces costs, but eliminates microfiche and reduces the use of paper.
Before switching to PCI/Reports, Central Jersey was converting reports on microfiche from its mainframe through a local vendor.
Ease and Cost Cited
The bank began a search for a personal computer-based solution that was powerful and economical, and that would eliminate paper and microfiche. Jack Watkins, senior vice president of operations for Central Jersey, said he chose the Photocorp system for its ease of use and onetime cost.
"The system is very easy to learn and implement," said Mr. Watkins.
Within a couple of weeks, the bank was downloading reports from its Systematics mainframe onto PCI/Reports.
Cut Paper Use 50%
After running PCI/Reports along with microfiche for a month, Central Jersey went completely on-line with the system in January 1993. Since then, the bank has put about one year's worth of reports into the optical storage system.
In addition to the benefit of yearly savings, Central Jersey has improved its operating efficiency with PCI/Reports. …