The Northern Trust Company offers new image-based cash management services using IA Corp.'s CheckVision; clients will have access to one of the largest archives in the banking industry.EMERYVILLE, Calif.--(BUSINESS WIRE)--Jan. 31, 1996--IA Corp., a leading developer of image-based cash management solutions, today announced that The Northern Trust Company, a multi-bank holding company headquartered in Chicago, has installed IA's CheckVision archive and distribution system to deliver image-based cash management products to its corporate customers. Northern Trust will use the CheckVision system to offer a range of new, image-enhanced products including payable through drafts, controlled disbursements Controlled disbursement A service that provides for a single presentation of checks each day (typically in the early part of the day). , positive pay, and Account Reconciliation Processing (ARP). The company plans make its new CheckVision system one of the largest archives of its kind in the banking industry. Northern Trust will be capturing images during the first, or "prime," pass of checks through image-enabled reader-sorters, allowing the company to shorten (audio, compression) Shorten - A form of lossless audio compression. processing times and make check images available to clients more quickly. "We are excited to work with IA on the implementation of a comprehensive image capture and delivery system," said Donald E. Berk, Vice President and Head of Product Management, Northern Trust Bank. "As we continue to refine our image strategy, we are investigating numerous ways of supporting specific client applications, including transmission, fax, on-demand retrieval, 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). , and the Internet." The CheckVision system will be configured con·fig·ure tr.v. con·fig·ured, con·fig·ur·ing, con·fig·ures To design, arrange, set up, or shape with a view to specific applications or uses: to capture and archive images received from Northern Trust's existing Unisys IIPS IIPS Industry Interactive Procurement System IIPS Institute for International Policy Studies IIPS International Intellectual Property Society IIPS Institute for International Peace Studies IIPS Institutional Information Processing System export platform. The captured images are stored on a Unisys U/6000 UNIX server A medium to large-scale computer system in a network that runs under Unix. Unix servers are widely used as application servers and database servers and are available from a variety of vendors, including Sun, IBM, HP and others. , and retrieved via local and remote PCs using CheckVision's PC/inquiry software for Windows. In addition, the system outputs check images to CD-ROM using Young Minds' CD Studio and Kodak PCD PCD polycystic disease. writer 600. "The marriage of the IA Archive application and the Unisys Image Export application has positioned the Northern Trust to be the leading bank in delivering check images to our clients," said Bert B. Saxon, Vice President, MIS, Northern Trust Bank. "Northern is one of the first banks in the U.S. to be able to push the envelope of exporting high volume, `prime pass' check images to the IA Archive daily." Northern Trust clients with large volume of checks, such as Thrift Drug Thrift Drug was a pharmacy chain based in Pittsburgh, Pennsylvania that was purchased by J.C. Penney in 1968, and was expanded greatly thereafter. The chain served as the flagship chain of J.C. Penney's pharmacy group. The chain didn't hide its affiliation with J.C. , Inc., welcome the new system which helps them better service their customers. "We expect this product to assist us, not only in our own research, but also in delivering quality service to our customers," said Beth A. Dubyak, Assistant Treasurer, Thrift Drug. "In today's environment the ability to respond to customers in a quick and professional manner allows us to differentiate ourselves from the competition." CheckVision CheckVision is a family of applications that automate To turn a set of manual steps into an operation that goes by itself. See automation. item processing. Based upon a robust client/server work management software, including workflow The automatic routing of documents to the users responsible for working on them. Workflow is concerned with providing the information required to support each step of the business cycle. and document management, CheckVision is highly scalable and can be geographically distributed to support high-volume check processing. CheckVision's open architecture supports interfaces to a variety of third-party check image transports, image proof of deposit systems, delivery mediums (e.g. CD-ROM, fax), printers, servers and workstations. The CheckVision family of applications includes Statement, Research, Archive, Delivery, and ARP. The Northern Trust Company The Northern Trust Company is a multi-bank holding company with 51 offices and total corporate assets of $20.1 billion. Founded in 1889, it provides high quality treasury management, trust and custody, credit, private banking, and investment management services for corporations and institutions. IA Background IA Corp., headquartered in Emeryville, Calif., is the leading supplier of high-performance, enterprise-level, geographically distributed, client/server work management software. The company specializes in image-based cash management products for the banking and 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. market. Products are based upon IA's object-oriented work management platform, WorkVision, which utilizes workflow and document management technology. IA provides solutions to suit its customers' specific requirements and assist them in differentiating their service offerings. CONTACT: IA Corp. Thierry Leger, 510/450-6816 or The Northern Trust Company Robert Lapinski, 312/444-7749 |
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