Alogent and DSS Partner to Provide Comprehensive Check 21 Solution; Joint Solution Accelerates Image Exchange by Converging `Day 2' into `Day 0'.Business Editors ATLANTA--(BUSINESS WIRE)--Dec. 11, 2003 Alogent Corp., a leading 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 and payment processors, and Data Support Systems, Inc. (DSS (1) (Digital Signature Standard) A National Security Administration standard for authenticating an electronic message. See RSA and digital signature. (2) (Digital Satellite S ), the premier provider of image-based Day 2 processing software, today announced the signing of a strategic alliance to develop and jointly market Sierra(R) T.R.I.P.S(TM). The integrated image exchange solution for exceptions and returns processing combines the benefits of early image capture, workflow automation See workflow. , and returns processing to reduce cost and errors and to accelerate processing timelines. "Check 21 has ushered in the era of check truncation and image exchange," said Brian Geisel, founder and 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 Corporation. "The Achilles heel of image exchange, however, is the ability to process returns, and exceptions as early as possible using images. Our partnership leverages the core competencies of the two companies, combining Alogent's ability to capture and process transactions through image workflows at the earliest points of presentment with DSS' leadership in returns and exceptions processing to transform a paper based Day 2 process into Day 0 image exchange." Returns, and exceptions processing has traditionally involved handling paper the day after the check is received at a processing center, thus the term Day 2. Sierra(R) T.R.I.P.S(TM) is expected to be available in the first quarter of 2004, and is the integration of DSS' T.R.I.P.S with Alogent's Sierra Xchange(R), unified payment gateway(TM). DSS T.R.I.P.S is the returns and exceptions processing product used by over 50 percent of the top 25 banks in the United States. Sierra Xchange is a suite of applications that can receive, validate, process, and send data and images, from both intra-bank and inter-bank points of presentment, to endpoints that include other banks, image exchange networks, image replacement document (IRD IRD Institut de Recherche pour le Développement (French) IRD Inland Revenue Department (New Zealand's tax revenue collection department) IRD Integrated Receiver Decoder ) creation services, and the automatic clearing house (ACH). "The synergies inherent in this alliance bring significant benefits to our common customers," said Carl Bortol, president and founder of Data Support Systems. "Image returns and exceptions processing based on early image capture removes the encumbrance A burden, obstruction, or impediment on property that lessens its value or makes it less marketable. An encumbrance (also spelled incumbrance) is any right or interest that exists in someone other than the owner of an estate and that restricts or impairs the transfer of the estate or of geography. Work can be processed at any center, regardless of proximity to paper collection points. Image workflows greatly reduce cost and errors. Most importantly, the image-enablement of traditional Day 2 processes with images captured from branches, ATMs, and other banks, and the consequent collapse of timelines will be a huge catalyst in making the image exchange promise of Check 21 possible." Sierra T.R.I.P.S will be marketed by both companies to the top 100 North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. financial institutions. About Alogent Alogent is a financial services 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 item processing, image exchange and the unique Straight Through Check Processing(TM). Alogent products process over a billion transactions a year in the U.S., and the company provides the platform that processes 74 percent of all checks written in the UK. 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 Plaza, Second Floor, Alpharetta, GA 30005; phone 770.752.6400; 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. About Data Support Systems Data Support Systems is the leading developer of image-based Day Two Processing software solutions, offering image-enhanced Day 2 applications in its T.R.I.P.S(TM)(Touchless Return Item Processing System) suite of products. DSS offers its flagship TRIPS Incoming, as well as TRIPS Track, Exceptions, Outgoing, ANS (ANS Communications, Inc, Purchase, NY) An ISP, Internet backbone and provider of private data network services, founded in 1990 as Advanced Network & Services, Inc., by IBM, MCI and Merit (consortium of Michigan universities). , Image Exchange Interface, and Image Archive Interface. DSS's customers include American Savings Bank savings bank, financial institution that, until recently, performed only the following functions: receiving savings deposits of individuals, investing them, and providing a modest return to its depositors in the form of interest. , Hibernia Bank, JPMorgan Chase, Bank of the West, Bank of New York The Bank of New York, abbrieviated to BNY, was a global financial services company that existed until its merger with the Mellon Financial Corporation on July 2, 2007.[1] The bank now continues under the new name of The Bank of New York Mellon Corporation. , Bank One, Comerica Bank, National City, Fifth Third, Harris Bank, KeyBank, PNC PNC Purdue University North Central (Westville, Indiana) PnC Point 'n Click PNC Police National Computer PNC People's National Congress (Guyana) PNC People's National Congress Bank, USBank, Wachovia, M&I Bank, Banco Popular, Huntington National Bank, Bank of Oklahoma, Bankers Trust, Solutran, SouthTrust Bank, UMB (1) (Upper Memory Block) See UMA. (2) (Ultra Mobile Broadband) See 3GPP. 1. UMB - Upper Memory Block. 2. UMB - A university(?). Bank, First Hawaiian, United Commercial Bank, and FiServ/ Northern trust Chicago. DSS is a privately held corporation Noun 1. privately held corporation - a corporation owned by a few people; shares have no public market close corporation, closed corporation, private corporation headquartered in Omaha, Nebraska. More information about the company and its services is available at http://www.datasupport.com. |
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