Alogent and Partners Demonstrate Straight Through Check Processing at BAI's TransPay 2003.Business Editors BAI's TransPay 2003 Booth #127 NEW ORLEANS--(BUSINESS WIRE)--May 7, 2003 Deposit Automation and a Unified Payments Gateway Help Financial Institutions Transition to Check Truncation and a Changing Mix of Paper and Electronic Payments Alogent Corp., a leading developer 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 and remittance processors, is showcasing 'straight through check processing(TM)' at BAI's TransPay 2003, featuring a multi-partner live demonstration on the show floor. This demonstration will show bankers how image technology can be used from the instant of capture to enable paper truncation at any point in the payment process and to build an efficient processing bridge between paper and electronic payments. Conference attendees will see a real-time demonstration of image and data integrity that begins with check-based payments and deposits captured at multiple points of presentment, including ATM, teller, branch commercial or back counter, and merchant. Each demonstration will show how transaction images and data are put to work immediately through Sierra Xpedite, Alogent's extensible deposit automation TM product to reduce work, reduce errors, and to feed back office processes earlier in the day, regardless of the point of origin. Alogent's deposit automation partners include these capture device, technology, and software vendors: A2iA (booth #548), a leading ATM vendor (in the Alogent booth #127), Digital Check (booth #239), Panini Panini (pä`nēnē), fl. c.400 B.C., Indian grammarian. His Ashtādhyāyī [eight books] (tr. 1891) is one of the earliest works of descriptive linguistics and is also the first individually authored treatise on Sanskrit. (booth #803), and Seac Banche (booth #337). The captured images and data from the points of presentment will be transmitted to the Sierra Xchange unified payments gateway(TM) in the Alogent booth (booth #127) Alogent will demonstrate how configurable business rules govern the collection of the electronic information from all sources, its examination, correction and balancing if needed, and distribution to appropriate endpoints. The unified payments gateway is the key to straight through check processing, because it can accommodate electronic and paper payments in any proportion and from both intra-bank (ATMs, branches, corporate accounts, cash vault) and emerging, inter-bank points of origin, such as, inter-bank image exchange. Sierra Xchange can also convert checks to ACH transactions. In today's 'paper-to-follow' world, checks still need to be matched and reconciled with information captured and processed electronically. With the assistance of demonstration partner Disaster Recovery Services, who will bring their NCR (NCR Corporation, Dayton, OH, www.ncr.com) A technology company specializing in financial terminal transactions, retail systems and data warehousing. Until the late 1990s, NCR was heavily invested in the hardware side of the industry, known worldwide as a major manufacturer of computers 7780 mobile recovery unit to the show floor (booth #112), Alogent will show how straight through check processing maintains transaction integrity through the entire clearing process. This demonstration will showcase how Alogent's patent pending eList Workflow uniquely matches electronic information captured at the point of deposit with the paper that 'follows', facilitating check encoding in just one sorter pass. This will also demonstrate how Alogent technology dramatically reduces free and missing exceptions, and makes it possible to eliminate paper items like batch tickets that are typically introduced into the processing stream. Demonstrations of various aspects of Alogent's Sierra Clearing product for accelerated paper item processing will also be held in both the Alogent and the DRS DRS Drives (street suffix) DRS Dispute Resolution Service DRS Doctorandus DRS Department of Rehabilitative Services DRS Direct Registration System (securities) DRS Department of Rehabilitation Services booth. Alogent's Sierra(R) Solution for straight through check processing is comprised of the end-to-end integration of all three products: Sierra Xpedite, Sierra Xchange, and Sierra Clearing. It is one of the reasons the Sierra Solution's benefits extend throughout the entire payment processing value chain, from presentment through clearing and beyond. It results in customer-service benefits (more time to sell to the customer, improved quality, early access to customer account information); bank-revenue benefits (earlier deposits and increased float income); earlier dissemination of balanced transaction data and images to image archive and a relational database relational database Database in which all data are represented in tabular form. The description of a particular entity is provided by the set of its attribute values, stored as one row or record of the table, called a tuple. ; and reduced processing costs due to fewer errors, fewer exceptions, and processing that is optimized for paper truncation and changing ratios of check-based paper and electronic payments. The live demonstration of straight through check processing features the end-to-end Sierra(R) Solution implemented by 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. Bank in 2000, which includes Sierra Xpedite for extensible deposit automation, Sierra Xchange as the unified payments gateway to converge paper data and image, and Sierra Clearing for accelerated item processing. More recently, Barclays Bank and World Savings 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. implemented Sierra Xpedite's extensible deposit automation as a strategic first step to transition their retail operations from paper to electronic processing. "We are pleased to join forces with our partners at 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 to showcase the fundamental benefits of our straight through check processing(TM) solution," said Vijay Balakrishnan, vice president of marketing at Alogent. "Check 21 and declining check volumes, in tandem Adv. 1. in tandem - one behind the other; "ride tandem on a bicycle built for two"; "riding horses down the path in tandem" tandem with increasing numbers and varieties of electronic alternatives such as ACH conversion and image exchange, are driving significant interest in truncation, imaging technology, and improvements in transaction processing efficiency. Our live, straight through check processing demonstration enables bankers to see how deposits made anytime, anywhere can be captured, validated, distributed, and processed to deliver paper truncation, process improvements, cost reduction benefits, and revenue improvements right through final clearing and settlement." As part of a contest at the show, Alogent is distributing a brochure that looks like a wilderness trail map to all BAI registrants. Attendees are encouraged to "navigate the check processing terrain" by following the trail map to Alogent's point of presentment and central processing partner booths throughout the BAI exhibit hall to collect a sticker from each. For each sticker an attendee collects, they earn another entry in the drawing for a $1,000 gift certificate from outdoor equipment supplier, Recreational Equipment, Inc. (REI). By visiting the Alogent booth with their completed trail guide, attendees can view the transactions they conducted at the ATM, teller, commercial counter, and merchant locations to see how Alogent's software electronically processes images and data from the point of deposit through the clearing process, with paper to follow. In addition, attendees learn how items such as cash-in/out tickets and batch tickets are eliminated, and how other paper items, like on-us checks and credit slips, may be truncated at the branches, if desired, or follow in one trip to the center at the "end of the day." Attendees can also learn more about the benefits of image-enabled straight through check processing by attending the TowerGroup, Alogent, BearingPoint concurrent session, entitled "Re-engineering for Check 21 and Beyond." Three perspectives will be presented, including the case for branch and central operations Central Operations (CO) is a major command of the London Metropolitan Police that provides operational support to the rest of the service. It is commanded by Assistant Commissioner Tarique Ghaffur. re-engineering (Bob Hunt), modeling for straight through check processing (Robert Coyan), and recent stories from the trenches (Kere Lewis). The presentation will be held on Friday, May 9th at 10:30 a.m. About Alogent Alogent develops and delivers open-architecture item processing software to banks, billers and payment processors who want to make payment processing more efficient and more profitable. Alogent specializes in high speed, high-volume transaction processing on a server-based platform that processes both paper and electronic payments. Alogent's solutions for front office deposit automation and accelerated central item processing are scalable, web-deployed, and based on Microsoft Windows See Windows. (operating system) Microsoft Windows - Microsoft's proprietary window system and user interface software released in 1985 to run on top of MS-DOS. Widely criticised for being too slow (hence "Windoze", "Microsloth Windows") on the machines available then. , SQL Server An earlier relational DBMS from Sybase and from Microsoft. Sybase introduced SQL Server in 1988 for various Unix versions. In that same year, with help from IBM, Sybase created an OS/2 version that Microsoft licensed and branded as Microsoft SQL Server. and Windows DNA (Distributed InterNet Architecture) An umbrella term for Microsoft's enterprise network architecture built into Windows 2000. It includes all the following components that collectively provide a Web-enabled infrastructure for an organization. and XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. architecture. For additional information, please visit the company's Web site at www.alogent.com, or contact Alogent at these locations: U.S. Headquarters: 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 Ph: 770/752-6400; Fax 678/966-9124 or London Sales and Support, Alogent Corporation, Cardinal Point cardinal point n. 1. One of four points in the pelvic inlet toward which the occiput of the fetus is usually directed in cases of head presentation. 2. , Park Road, Rickmansworth, Hertfordshire, England WD3 1RE. Phone: 011 44 1923 432643; Fax: 011 44 1923 432843; UK Sales: Haydn.John@alogent.com. Alogent Partners -- What They're Saying ... Jean-Louis Fages, 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. , A2iA Corp. "A2iA CheckReader's advanced full-check recognition capabilities, coupled with Alogent's innovative straight through check processing software, deliver some of the industries' highest CAR and LAR read rates. This combined technology automates image and information capture from various handwritten hand·write tr.v. hand·wrote , hand·writ·ten , hand·writ·ing, hand·writes To write by hand. [Back-formation from handwritten.] Adj. 1. fields of checks, deposit and payment slips at the point of presentment. Financial institutions around the world benefit from faster data capture, increased processing efficiency and quality, reduced workloads, reduced errors, and an increased client ROI (Return On Investment) The monetary benefits derived from having spent money on developing or revising a system. In the IT world, there are more ways to compute ROI than Carter has liver pills (and for those of you who never heard of that expression, it means a lot). ." Mark Vose, National Account Manager, Digital Check Corporation "Alogent's architecture allows its users not only to build the platform to take full advantage of Check 21 and its inherent benefits, but just as importantly it provides workflow and productivity benefits that justify its rollout today. As a US company, we are very proud to be associated with Alogent in providing teller and back counter scanners to their banking clients so that they can enjoy these immediate improvements in branch operations as well as in 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." Steven King Steven King is the name of:
"Even with passage of The Check Clearing for the 21st Century Act, checks will continue to be a significant part of payment processing in the foreseeable future. Disaster Recovery Services supports Alogent's straight through check processing technology by providing hot-site and mobile disaster recovery services to image-item processing users in the check image, reject re-entry RE-ENTRY, estates. The resuming or retaking possession of land which the party lately had. 2. Ground rent deeds and leases frequently contain a clause authorizing the landlord to reenter on the non-payment of rent, or the breach of some covenant, when the , remittance, and lockbox Lockbox A collection and processing service provided to firms by banks, which collect payments from a dedicated postal box to which the firm directs its customers to send payment to. processing environments. Alogent ability to integrate with any legacy processing software, hardware, and transport provides an ideal match with DRS' support capabilities for its customers as they transition from paper to a mixed paper-plus-electronic payment processing." Dave Youngerman, President Panini North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. "Panini sees the evolvement of straight through check processing as the logical next step for institutions as they ready themselves for Check 21 and other initiatives that are taking the market by storm. Panini's new Teller Image devices will be actively demonstrating this process in conjunction with Alogent." Heiko Oberman Heiko A. Oberman (1930-2001) was a historian and theologian who specialized in the study of the Reformation. Oberman was born in Utrecht, the Netherlands. He earned his doctorate in theology from the University of Utrecht in 1957 and joined the faculty of the Harvard Divinity , President, Seac Banche USA, Inc. "Seac Banche and Alogent combine the power of advanced data and image capture products with the flexibility of deposit automation software. Together, we provide banks with a solution that leverages innovative straight through check processing technology, thereby positioning them for success -- now and well into the future." |
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