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Captovation Announces Support for the Panini My Vision X(TM) Check Scanner.

MINNEAPOLIS -- Captovation, a developer of document and check capture software, announces its latest check imaging device support for the Panini My Vision X[TM] check scanner. The My Vision X scanner can be integrated with Captovation([R])Check Capture 5.1 to provide an efficient and economical check capture system that facilitates electronic check exchange or deposit in forward presentment environments. This support extends Captovation's offering to organizations looking to implement a branch capture, back counter capture, or merchant capture (remote deposit capture) check processing system.

Captovation Check Capture provides an interface to perform the check imaging and electronic encoding process utilizing the Panini scanner's built-in MICR reader to extract check information (routing number, account number, etc.). Once captured, check images and data can be electronically transmitted to another financial institution for deposit, or sent to a check processing center for final clearing. The resulting benefits of this electronic process include reduced float time and courier costs, more immediate access to funds, and decreased fraud risk.

Since the adoption of the Check 21 Law (Check Truncation Act) in October 2004, check image exchange has been growing steadily every year. One of the many factors fueling this growth is the availability of efficient and economical check capture devices, such as the My Vision X check scanner. Celent, a research and consulting firm for the financial services industry, recently confirmed that Panini is the market share leader for distributed check capture1.

The Panini My Vision X is available in speeds of 30, 60, or 90 documents per minute (dpm). One of the unique features of the scanner is that its transport speed can be upgraded through the device firmware. Other features include a 3-mode feeder for single, 30, or 100 documents, a programmable rear inkjet endorser, and USB 2 interface support.

"As we look to grow our Check Capture customer base, it makes sense to work with a market leading, reputable company like Panini and provide support for their My Vision X scanner," said Ken Peterka, Captovation's President and CEO. "This support extends our offering to clients looking for a robust yet cost-effective Check 21 solution."

Captovation Check Capture also supports scanner models from Canon, Digital Check, and Kodak. The software is targeted to small and medium-sized banks and credit unions, as well as to merchants with high volumes of check deposits.

About Captovation, Inc.

Captovation develops check capture software for financial institutions. Our Captovation([R]) Check Capture system provides the critical first step to becoming image enabled, thereby allowing financial institutions to capture checks at their earliest point of presentment so they can participate in and realize the many benefits of Check 21 and electronic image exchange. Check Capture can be used with many check scanner devices and includes such features as X9.37 support (Check 21 output standard), auto MICR parsing, and CAR/LAR recognition (optional). Check Capture is sold through Captovation certified resellers and OEM partners. For more information, visit the company's web site at www.captovation.com.

About Panini

Founded in Turin, Italy, Panini has a successful sixty year history of enabling clients to capitalize on shifts in the global payments processing market. Panini has a rich history of technology innovation, leveraging the company's expertise in research & development. Panini's market leading solutions are based on state-of-the-art engineering resources and ISO-9000 quality certified production. Panini North America, established as a wholly owned subsidiary in 1995, offers check capture solutions that enable customers to fully realize the advantages and efficiencies available with the digital transformation of the paper check. Panini's scalable check capture solutions address the complete range of distributed check processing opportunities including teller capture, back-counter capture, corporate capture, cash vault, microfilm replacement and remittance processing. For more information please call 937.291.2195 or visit www.panini.com.

1 Based on Celent research conducted October 2006 among top 100 U.S. Banks for distributed capture (branch, corporate), inclusive of all Panini sales channels.
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Publication:Business Wire
Date:Feb 22, 2007
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