Alogent's Image and Data Exchange Solution Selected by SunTrust.Business Editors BAI n. 1. a language spoken in the Dali region of Yunnan. Noun 1. Bai - the Tibeto-Burman language spoken in the Dali region of Yunnan Baic TRANSPAY CONFERENCE BOOTH NUMBER 709 LAS VEGAS--(BUSINESS WIRE)--May 19, 2004 Alogent Corp., a provider of payment transaction processing Updating the appropriate database records as soon as a transaction (order, payment, etc.) is entered into the computer. It may also imply that confirmations are sent at the same time. Transaction processing systems are the backbone of an organization because they update constantly. solutions for global financial institutions, remittance processors and payment processors, today announced that SunTrust Banks SunTrust Banks, Inc. (NYSE: STI) is an American bank holding company. The largest subsidiary is SunTrust Bank. It had $182.2 billion in assets as of December 31, 2006. , Inc., one of the nation's largest commercial banking organizations, has selected its Sierra(R) Xchange(TM), Unified Payments Gateway(TM) solution, which operates as an intelligent payment processing and image exchange engine. Using Alogent's Sierra Xchange, which collects, corrects, balances and distributes paper, data and image transactions from all points of origination to multiple, configurable endpoints, SunTrust will perform image quality analysis, and send and receive images and data through image cash letters. Images and data will initially be received from and sent to the Viewpointe Image Share(TM) service. Viewpointe is the largest national shared archive for check image and retrieval services. In addition, Sierra Xchange will perform image quality analysis on images from the SunTrust in-house image capture systems. SunTrust will benefit from increased processing quality and speed, and reduced costs, as well as from a platform that provides a transparent transition to image exchange. "As image exchange agreements, quality standards and third-party clearinghouse participation continue to evolve, banks are challenged with accommodating a variety of image exchange alternatives, as well as near constant adaptation to change," Brian Geisel, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Alogent, said. "While banks can implement varied solutions to accommodate multiple imperatives, SunTrust has recognized it is far more efficient and cost effective to partner with a company that can provide a flexible payments gateway to accommodate all inputs, outputs and workflows. We are extremely pleased to assist SunTrust with its transition to full image and data exchange." SunTrust Senior Vice President, Lee Crocker, said, "Our partnership with Alogent is a key step in the recognition of our image share and exchange objectives. With the Sierra Xchange solution SunTrust will be positioned to more rapidly adapt to the changing payments landscape, while continuing to provide exceptional service to our customers." "Financial institutions need to re-engineer their check processing operations as they deal with reduced volumes and check truncation," said Robert Hunt Robert Hunt may refer to:
tr.v. re·vi·tal·ized, re·vi·tal·iz·ing, re·vi·tal·iz·es To impart new life or vigor to: plans to revitalize inner-city neighborhoods; tried to revitalize a flagging economy. of the business process, however, has to be aligned with systems that are highly scalable for meeting peak demands and are flexible in design to meet changing business and regulatory requirements." The paper payments processing landscape is transitioning to a mix of paper, data and image. Sierra Xchange enables banks to efficiently converge paper, data, and image to process both intrabank transactions originating at branches, ATMs, cash vaults and merchant locations, as well as interbank in·ter·bank adj. Relating to, involving, or connecting two or more banks: interbank borrowing; an interbank network of automated teller machines. data and image exchange. About SunTrust SunTrust Banks, Inc., headquartered in Atlanta, Georgia, is one of the nation's largest commercial banking organizations. As of March 31, 2004 SunTrust had total assets of $125.2 billion and total deposits of $80.9 billion. The company operates through an extensive distribution network primarily in Florida, Georgia, Maryland, Tennessee, Virginia and the District of Columbia District of Columbia, federal district (2000 pop. 572,059, a 5.7% decrease in population since the 1990 census), 69 sq mi (179 sq km), on the east bank of the Potomac River, coextensive with the city of Washington, D.C. (the capital of the United States). and also serves customers in selected markets nationally. Its primary businesses include deposit, credit, trust and investment services. Through various subsidiaries the company provides credit cards, mortgage banking, insurance, brokerage and capital markets services. SunTrust's Internet address There are two kinds of addresses that are widely used on the Internet. One is a person's e-mail address, and the other is the address of a Web site, which is known as a URL. Following is an explanation of Internet e-mail addresses only. For more on URLs, see URL and Internet domain name. is www.suntrust.com. About Alogent Alogent is a financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. technology company with proven global success in providing payment processing solutions that enable banks, billers and outsource processors to reduce costs, accelerate timelines and improve quality in check and item processing. Alogent's suite of Sierra solutions help banks adapt to Check 21, check truncation and paper-to-electronic transformation. They include solutions for deposit automation, image based centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. item processing, image exchange and the unique Straight Through Check Processing(TM). Alogent products process over a billion transactions a year in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. , and the company provides the platform that processes 74 percent of all checks written in the United Kingdom. Alogent's solutions are being deployed to the largest deposit automation implementations in the world. Alogent brings proven credibility and leadership to help global customers address mission-critical challenges. For more information about Alogent's solutions, visit www.alogent.com. For more information about Alogent in the USA, write 4005 Windward wind·ward adj. 1. Of or moving toward the quarter from which the wind blows. 2. Of or on the side exposed to the wind or to prevailing winds. adv. In a direction from which the wind blows; against the wind. Plaza, Second Floor, Alpharetta, GA 30005; phone 777.752.6400; toll free 888.333.6030; fax 770.752.6500 or email info@alogent.com. For sales in the UK, phone 011 44 1273 414011; fax: 011 44 1273 414311 or email Haydn.John@alogent.com. |
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