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News

Cheque scanning system installed in Wisconsin bank

A2iA : 03 December, 2008  (Application Story)
Bank teller efficiency improvements gained with the help of cheque scanning system installed with embedded Checkreader appliance from A2iA
Olim, an A2iA integrator and technology solutions provider headquartered in Wisconsin, has developed a customizable check-processing system designed for use at the bank's front counter.

This new application, Olim Check Scanning Solution (Olim CSS), is proven to dramatically decrease the manual workload of bank tellers while ensuring more customer interaction and a better experience
for bank customers.

At its first installation at Marine Credit Union in La Crosse, Wisconsin, Olim CSS fully automated 95% of all transactions, delivered a time savings of 125% as compared to when transactions were encoded manually, and delivered an ROI in less than 160 days.

"We selected A2iA CheckReader because of its ability to provide tellers more face-to-face time with customers, while providing a 'second set of eyes' to catch potential errors or check validity problems," said Tom Boser, president Olim, LLC. "A2iA CheckReader's powerful image quality and image usability tools immediately alert the teller of checks that are poorly scanned, have incomplete information, or potentially non-negotiable items, ensuring timely processing and the prevention of costly corrections."

Since each transaction is balanced at the point-of-presentment, the risk of leaving a batch of checks with an error is nearly eliminated. During a transaction, the teller feeds multiple checks and the deposit ticket into the scanner. A2iA CheckReader then locates and recognizes the CAR and LAR amounts, payer name and address, date and payee name. The customer's account number is captured from the deposit ticket and this scanned information is transformed into usable data, which Olim CSS validates. The transaction is balanced in real-time, and the entire system runs as a service to build the X9.37 file at a scheduled time by looking for all checks validated by the branch supervisor.

Tellers process checks with the customer at the counter and the customer receives a receipt almost immediately. Overtime hours for research and adjustment are practically non-existent with this new system. Since Olim CSS with A2iA CheckReader allows for the reconciliation of a teller's transactions as they are being scanned, and the reconciliation of a bank's totals at the end of the day, a branch manager is able to validate the day's work and ensure that the checks balance correctly without having to search through the day's transactions. X9.37 files are then posted on time with later cut-off times. The ability presented by this new integration, which allows for realtime reconciliation of transactions, makes this process faster and easier for the financial institution with near perfect accuracy.

Historical transactional information is fully accessible in real-time searches, based on a bank's requirements, within this integrated solution. Searches can be performed based on any other field captured by Olim CSS and A2iA CheckReader, whether written in machine print, handprint or cursive handwriting.
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