Bank of the West Selects TWS' IMAGECENTER; Advanced Technology Solution Automates Transaction Processing.LAS VEGAS Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. -- TWS TWS The Wildlife Society (founded in 1937) TWS The Wilderness Society TWS The Weekly Standard (political magazine) TWS Thermal Weapon Sight TWS Texas World Speedway TWS Tsunami Warning System Systems, Inc., a leader in ATM deposit management and 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 financial institutions and a Microsoft Certified See certification. Partner, announced that Bank of the West, with more than $30 billion in assets, selected several of the IMAGECENTER modules including ALERTMANAGER BY TWS (ALERTMANAGER) a real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. fraud prevention solution and OMEGA 1. (programming) Omega - A prototype-based object-oriented language from Austria. ["Type-Safe Object-Oriented Programming with Prototypes - The Concept of Omega", G. Blaschek, Structured Programming 12:217-225, 1991]. 2. BY TWS (OMEGA), a Microsoft(R).NET-based ATM deposit management solution that automates the processing and management of an ATM deposit. The bank is the latest of TWS' customers to select the IMAGECENTER suite of products, which is used by several of the nation's largest financial institutions including Bank One, National City and Charter One Bank. "TWS was built on being the preferred ATM deposit management partner for the top financial institutions in the country," said Milton King, president of TWS. "They demand superior products and IMAGECENTER is the best in the industry. Having a financial institution such as Bank of the West as our client is a tremendous tribute to the work we have put in to developing our products. Our solution allows financial institutions to continue providing the high quality service its customers are accustomed to receiving." Another feature included in the IMAGECENTER module is ALERTMANAGER, a fraud protection tool. Using ALERTMANAGER, Bank of the West is able to customize fraud prevention criteria to meet its specific needs. The system reviews each transaction at the institution and automatically sends an alert or warning when any of the pre-set fraud prevention criteria is met. With ALERTMANAGER, financial institutions receive constant updates about possible fraudulent The description of a willful act commenced with the Specific Intent to deceive or cheat, in order to cause some financial detriment to another and to engender personal financial gain. transactions. In addition, the bank has access to an online network where they can get information on fraud activity and updates on future training conferences. OMEGA will allow Bank of the West to streamline and automate To turn a set of manual steps into an operation that goes by itself. See automation. its ATM deposit processing from start to finish. Using digital-image processing and handwriting recognition Handwriting recognition is the ability of a computer to receive intelligible handwritten input. The image of the written text may be sensed "off line" from a piece of paper by optical scanning (optical character recognition). (CAR/LAR/ICR) technology to read check deposit amounts, OMEGA dramatically reduces data entry for ATM reconciliation. Other key components of OMEGA include the solution's ability to cut fraudulent transactions by 80 percent; a disaster recovery system, which stores and re-routes check images and data; and a lifecycle envelope management feature which tracks ATM deposits, giving managers the flexibility to schedule personnel based on the predicted volume of deposits. King said IMAGECENTER is ideally suited for processing in the Check 21 era. The solution uses the latest in image-recognition technology to automate the balancing and processing of most transactions within a financial institution. IMAGECENTER will automatically balance more than 80 percent of transaction processing. Its open design gives financial institutions the ability to consolidate regional and central back office transaction processing onto a single platform. About TWS Systems, Inc. Clearwater, Fla.-based TWS Systems, Inc. is a privately held 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. company that is the first company to offer total deposit automation with image-based ATMs. TWS is the leading provider of transaction processing solutions and fraud prevention tools for the credit union industry, and is the leading provider of ATM and fraud management solutions for banks. For additional information about TWS Systems, Inc. call 800.247.1342 or visit www.twssystems.com. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion