Alogent Announces Back Office Conversion Support.Newest Sierra[R] Release Includes Expanded ACH (Automated Clearing House) A system of the U.S. Federal Reserve Bank that provides electronic funds transfer (EFT) between banks. It is used for all kinds of fund transfer transactions, including direct deposit of paychecks and monthly debits for routine payments to Capabilities ORLANDO, Fla. -- Alogent Corp., a leading provider of enterprise 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 and processors, today announced its open systems solution support for the newest NACHA NACHA National Automated Clearing House Association NACHA National Agency Clearing House Association rule to support Back Office Conversion. With Alogent's latest release, financial institutions can offer new services to their retail customers enabling them to convert check payments in their back office to ACH payments. Alogent has extended the capability of Sierra[R] Xchange[TM] and Sierra Xpedite[R] Remote Deposit[TM] to support centralized processing Processing performed in one computer or in a cluster of coupled computers in a single location. Centralized processing evolved from the computers in the 1960s, which were stand-alone with all input and output in the same room. of back office conversion (BOC (Bell Operating Company) One of 22 companies that was formerly part of AT&T and later organized into seven regional companies. See RBOC. ) as add-on functionality to its current ACH software capabilities. This advanced functionality facilitates intelligent routing of each item for optimal efficiency regardless of its endpoint, using a single payments gateway to the bank's payment systems - via Image Exchange, ACH or IRD IRD Institut de Recherche pour le Développement (French) IRD Inland Revenue Department (New Zealand's tax revenue collection department) IRD Integrated Receiver Decoder . "One of today's biggest operational challenges is determining how to efficiently capture and process transactions as the entire payments landscape continues to rapidly evolve," said Amar Verma, Vice President of Product Strategy at Alogent. "We are focused on continuing to drive cost efficiency in the payments system, and the convergence of ACH is one more step in completing our vision. We believe that BOC will become an important option for our customers' long-term technology strategies," he added. Effective on March 16, 2007, the National Automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. Clearinghouse Association's (NACHA) newest rule allows for back-office check conversion at retail and other business locations. Under new regulations, retailers will be able to accept checks in retail lanes and then capture the data and convert the transactions in a controlled environment in the back office by trained employees. By decreasing the need for hardware devices at every point of purchase (POP), per-item processing costs are dramatically reduced. This also eliminates the need to determine eligibility requirements for check conversion at the register. "By leveraging these new standards," Verma said, "the Sierra Solution effectively delivers the benefits of distributed capture technologies with open integration into legacy payment systems. Our customer successes with integration to all of the market leading check processing and ACH systems demonstrate our commitment as a scalable and open enterprise solution provider," he said. Alogent's Sierra Solution provides dynamic clearing by combining ACH, image exchange or paper through Image Replacement Documents (IRDs). Through offering a variety of clearing methods, financial institutions can meet the needs of their customers by leveraging the advantages of multiple technologies to determine the most efficient and/or cost-effective workflow for each processing scenario. About Alogent Founded in 1995, Alogent Corporation is a leading global provider of enterprise payment processing solutions that enable financial institutions and processors to accelerate the conversion of paper to electronic processing. The company's Sierra suite of solutions automates payments and deposits at every point of presentment presentment: see indictment. (including branches, ATMs, merchants, corporations and cash vaults) while optimizing electronic data and image processing image processing Set of computational techniques for analyzing, enhancing, compressing, and reconstructing images. Its main components are importing, in which an image is captured through scanning or digital photography; analysis and manipulation of the image, accomplished and settlement. Alogent is the deposit automation market leader with our platform processing billions of payments annually with over 55,000 desktop points of presentment sold. The company's customers include KeyCorp, Lloyds TSB Lloyds TSB Group plc (LSE: LLOY) is a banking and insurance group in the United Kingdom. It was formed in 1995 by the merger of Lloyds Bank and the Trustee Savings Bank (TSB). The Group's head office is at 25 Gresham Street, London. and SunTrust, among others. Alogent brings proven delivery and leadership to help customers worldwide address mission-critical challenges. For more information, visit www.alogent.com or call 888.333.6030. |
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