New Corporate Service At UK's Barclays Bank Exploits Unisys Image Processing Services And Technology Solution For Financial Service.BLUE BELL, Pa.--(BUSINESS WIRE)--June 9, 1998--Unisys Corp. is providing image payment software and processing services to enable Barclays Bank, a leading provider of 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. based in the United Kingdom, to offer what is expected to be the first check image-based cash management service by a UK bank. Barclays positive pay service, called ImagePay, will enable customers issuing large numbers of checks to outsource to the bank the reconciliation of these payments and to view check images on screen. This capability will speed up the decision to pay or not, and enable quick identification of fraudulently altered checks. The service, due to be launched in the second half of 1998, matches checks presented through the clearing system against a file of checks that have been issued. When a match is made, the check is paid and the business customer will electronically receive a report that can be integrated into accounting systems, enabling more effective and faster reconciliation against account payable ledgers. An optional feature uses image technology to provide archiving and retrieval of check images, via 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). . ImagePay will utilize an information management solution based on image-enabled check processing services provided by Unisys and Unisys Image Retrieval An image retrieval system is a computer system for browsing, searching and retrieving images from a large database of digital images. Most traditional and common methods of image retrieval utilize some method of adding metadata such as captioning, keywords, or descriptions to the and Information System (IRIS) software supplied to Barclays and their ImagePay customers. The details of unmatched checks are also provided, enabling review by the customer in order to instruct the bank to pay or not by 12 noon on the same day. ImagePay therefore eliminates significant amounts of manual processing and reduces the risk of human error. The new service also provides an on-line, automated stop check facility. James Witkins, managing director, Barclays Payments and Cash Management Services, said, "ImagePay is an essential tool to electronically reconcile paper-based payments using the latest technologies. It provides opportunities to reduce operating and administration costs, enabling staff resources to be used more effectively. This is the first in a new generation of leading edge, image technology -based cash management services that Barclays are committed to providing for our customers". When combined with Barclays DirectCheque -- outsourced printing and mailing of checks -- ImagePay will provide a complete end-to-end check management service from issuing to reconciliation. John Smith, director of Unisys Payment Solutions for the UK, said, "This agreement with Barclays demonstrates how together we can provide image-enabled processing technology and payment processing services to deliver exciting new value-added services A value-added service (VAS) is a telecommunications industry term for non-core services or, in short, all services beyond standard voice calls and fax transmissions. ". This latest agreement further enhances the position of Unisys as the UK's largest and most successful provider of high quality, cost effective payment processing services. With centers in London, Glasgow, Bootle, and Wigan Wigan (wĭg`ən), city (1991 pop. 88,725) and metropolitan district, N England, located in the Manchester metropolitan area on the Douglas River. , Unisys provides processing services to the Co-operative Bank The Co-operative Bank is a co-operative bank trading in the United Kingdom with headquarters in Manchester, UK. It is an ethical bank, and refuses to invest in companies involved in the arms trade, genetic engineering, animal testing and use of sweated labour as stated in its , Girobank, Yorkshire Bank Yorkshire Bank is a commercial bank in England and Wales, a division of Clydesdale Bank. It mostly operates in the North of England, especially in Yorkshire. In 2006 underlying profit rose 16.7 per cent to £454m compared with a year earlier, while post tax earnings climbed 12. , and Clydesdale Bank The Clydesdale Bank PLC is a commercial bank in the United Kingdom, a subsidiary of the nab Group. In Scotland, the Clydesdale Bank is the third largest clearing bank, although it also retains a branch network in London and the north of England. . Unisys utilizes state-of-the-art payment processing systems that are able to capture, store, and retrieve images of checks and other payment documents. This can mean removing paper from work flows entirely, creating the opportunity to double amount-entry throughput, move digital images automatically to where they are needed, and use an expert system to balance and reconcile payments. A key element of the ImagePay service will be the ability to retrieve images of checks stored in the archive maintained by Unisys. Clients will utilize Unisys IRIS software, which allows users to retrieve images of checks on screen for verification and resolution of account queries. About Unisys Unisys is an information technology solutions provider that has a portfolio of information services See Information Systems. , technologies and third-party alliances needed to help clients capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. their information asset to enhance their competitiveness and responsiveness to customers. Unisys expertise is founded on the strengths of three global businesses: Information Services, providing consulting, application solutions, systems integration and outsourcing (1) Contracting with outside consultants, software houses or service bureaus to perform systems analysis, programming and datacenter operations. Contrast with insourcing. See netsourcing, ASP, SSP and facilities management. ; Computer Systems, providing industry-leading technologies; and Global Customer Services, delivering comprehensive services and products supporting distributed computing environments See DCE. Distributed Computing Environment - (DCE) An architecture consisting of standard programming interfaces, conventions and server functionalities (e.g. naming, distributed file system, remote procedure call) for distributing applications transparently across networks . Access the Unisys home page on the World Wide Web -- http://www.unisys.com - - for further information. Unisys is a registered trademark of Unisys Corp. All other brands and products referenced herein are acknowledged to be trademarks or registered trademarks of their respective holders.
CONTACT: Unisys
Jan Haig, 215/986-2014
Internet: jan.haig@unisys.com
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