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Catering to Customer Needs: Unisys Integrates Image-Based Payment Solution for Fifth Third Bancorp.


Business Editors/Hi-Tech Writers

BLUE BELL, Pa.--(BUSINESS WIRE)--Dec. 12, 2001

Unisys e-@ction Payment Information Archive Solution Improves

Customer Service While Reducing Costs and Generating Revenue

Fifth Third Bancorp (NASDAQ NASDAQ
 in full National Association of Securities Dealers Automated Quotations

U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on
:FITB FITB Fill In The Blank
FITB Future Income Tax Benefit
FITB Fédération Internationale de Tchoukball (International Tchoukball Federation) 
) was committed to enhancing its payment-processing operations and increase responsiveness to its corporate customers -- and Unisys Corporation (company) Unisys Corporation - The company formed in 1984-5 when Burroughs Corporation merged with Sperry Corporation. This was when the phrase "dinosaurs mating" was coined.  (NYSE NYSE

See: New York Stock Exchange
:UIS (graphics, programming) UIS - A VMS graphics programming interface package for VAXstations. ) answered the call. Fifth Third has implemented Unisys e-@ction Payment Information Archive solution to help enhance their customer service while reducing costs, and generate incremental revenue for the bank.

Recent world events have caused financial institutions to reevaluate the processes associated with clearing checks, creating renewed interest in truncation. With more than 68 billion checks written in the U.S. in 2000, financial institutions are well acquainted with the operational and organizational challenges of processing paper. Unisys e-@ction Payment Information Archive addresses the many requirements associated with truncation, allowing banks to clear payments electronically.

Fifth Third Bancorp is able to consolidate and image enable paper-based payments from different processing platforms into a single payment archive from which payment information can be easily obtained. Improved imaging technology allows Fifth Third to provide its corporate customers with images of their checks and associated payment information on a CD-ROM CD-ROM: see compact disc.
CD-ROM
 in full compact disc read-only memory

Type of computer storage medium that is read optically (e.g., by a laser).
, eliminating the need to return physical paper checks to the corporate customer and providing a higher level of service and usability when compared to microfilm.

In addition to these benefits, Unisys will help Fifth Third Bancorp reduce payment research time, erroneous information delivery to customers and the frequency of customer callbacks.

"It's no secret that image-enabling the payment process benefits our corporate customers by combining cost and time savings, while alleviating the headaches associated with going through thousands of paper checks each month," said Diane Dewbrey, senior vice president, Fifth Third Bancorp. "We selected Unisys because they are a recognized leader in image-enabled payment processing solutions and will provide a faster return on investment. Down the road, this solution positions Fifth Third Bancorp to continue to consolidate and increase the efficiency of our check and item processing capabilities."

Unisys check processing and payment information archive solutions support truncation initiatives at banks around the world, providing greater efficiency and productivity in payment processing operations. The solution optimizes customer service and enhances employees' internal work environment and efficiency, thus providing proficient customer responsiveness, improved productivity, and powerful research capabilities.

"In today's tight economic market, only technology that provides immediate payback will make it to market," said Jim Harris Jim Harris may refer to:
  • Jim Harris (politician) (born 1961), Green Party of Canada
  • Jim Harris (entrepreneur), one of the founders of Compaq Computer
  • Jim Harris (naturalist) (born 1954), American
  • Jim Harris (wrestler) (born 1950), American
, principal, Payments Practice, Unisys 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.  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.
. "In a condensed con·dense  
v. con·densed, con·dens·ing, con·dens·es

v.tr.
1. To reduce the volume or compass of.

2. To make more concise; abridge or shorten.

3. Physics
a.
 time frame, we utilized our systems integration expertise to develop a quality, cost-effective approach for Fifth Third Bancorp by image-enabling their payments environment while emphasizing a customer-friendly platform."

About Fifth Third Bancorp

Fifth Third Bancorp is a diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment  services company headquartered in Cincinnati, Ohio “Cincinnati” redirects here. For other uses, see Cincinnati (disambiguation).
Cincinnati is a city in the U.S. state of Ohio and the county seat of Hamilton County.
. The Company has more than $70 billion in assets, operates 16 affiliates with 939 full-service Banking Centers, including 144 Bank Mart locations open seven days a week inside select grocery stores and 1,830 Jeanie ATMs in Ohio, Kentucky, Indiana, Florida, Michigan and Illinois. The financial strength of Fifth Third's affiliate banks continues to be recognized by rating agencies with deposit ratings of AA- and Aa2 from Standard & Poor's and Moody's, respectively. Additionally, Fifth Third Bancorp continues to maintain the highest short-term ratings available at A-1+ and Prime-1, and was recently recognized by Moody's with one of the highest senior debt ratings for any U.S. bank holding company of Aa3. Fifth Third operates four main businesses: Retail, Commercial, Investment Advisors and Midwest Payment Systems, the Bank's data processing data processing or information processing, operations (e.g., handling, merging, sorting, and computing) performed upon data in accordance with strictly defined procedures, such as recording and summarizing the financial transactions of a  subsidiary. Investor information and press releases can be viewed at www.53.com. The Company's common stock is traded in the over-the-counter market over-the-counter market

Trading in stocks and bonds that does not take place on stock exchanges. Such trading occurs most often in the U.S., where requirements for listing stocks on the exchanges are strict.
 through The NASDAQ National Market under the symbol "FITB."

About Unisys

Unisys is an e-business solutions company whose employees help customers in 100 countries apply information technology to seize opportunities and overcome challenges of the Internet economy. Unisys people integrate and deliver the solutions, services, platforms and network infrastructure required by business and government to transform their organizations for success in this new era. The company offers a rich portfolio of Unisys e-@ction Solutions for e-business based on its expertise in vertical industry solutions, network services, outsourcing, systems integration and multivendor support, coupled with enterprise-class server and related technologies. The primary vertical markets Unisys serves worldwide include financial services, transportation, communications, publishing and commercial sectors, as well as the public sector, including federal government customers. Unisys is headquartered in Blue Bell, Pennsylvania Blue Bell is a census-designated place (CDP) in Whitpain Township in Montgomery County, Pennsylvania, in the United States. As of the 2000 census, its population was 6,395. , in the Greater Philadelphia area. For more information on the company, access the Unisys home page on the World Wide Web at www.unisys.com. Investor information can be found at www.unisys.com/investor.

RELEASE NO.: 1201/8087 http://www.unisys.com/news/releases/2001/dec/12128087.asp

Unisys and e-@ction are registered trademarks of Unisys Corporation. Bart Mart and Jeanie are registered trademarks of Fifth Third Bancorp. All other brands and products referenced herein are acknowledged to be trademarks or registered trademarks of their respective holders.
COPYRIGHT 2001 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2001, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Date:Dec 12, 2001
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