ManTech Advanced Recognition Technology (MARL), the UK data acquisition company, today announced that a new major financial services company in the USA is implementing its RDS 3000, a high-capacity document reader that automates cheque and document processing. This offers financial institutions a fast and efficient option to the practice of microfilming cheques, and thereby speeds up cheque clearing times.
World Savings, a consumer financial services company based in San Antonio, Texas, with more than $55 billion in assets and 264 branches in nine US states, has installed seven of the scanners in branch and back office environments as part of the US pilot for the RDS 3000. Use of the scanners allows financial institutions to capture cheque images for immediate viewing, as opposed to a typical delay of a month or longer using microfilm. The RDS 3000 also allows up to three images to be captured in a single pass, each at different resolution and image format.
"There is so much more you can do with the RDS 3000 and its scanning technology," said James Gergen, senior vice president, World Savings. "We've improved our tracking, indexing and imaging quality by scanning cheques, creating both significant cost and time savings for the company and its employees. Everything we've meant to prove through the pilot has succeeded."
With the scanner, Gergen expects to trim employee hours devoted to research, audit, loss prevention and accounting functions. World Savings has currently installed the RDS 3000 in branches in California, Florida and Colorado, as well as at its Internet banking, accounting and research facilities.
Loss prevention is dramatically improved since the MICR character reader
helps identify counterfeit cheques sooner. Imaging of cheques also eliminates the damage of potential physical loss of cheques by couriers, since images are cleanly captured and recorded at the branch onto a PC hard drive for easy retrieval. The archiving and viewing capability is enabled due to specialised software supplied by ManTech Banking & Finance.
"World Savings is helping exhibit the many values of the RDS 3000," said
Stephen Walsh, President, ManTech Banking & Finance. "With imaging capabilities that extend to ATM deposits, debit forms and e-cheque presentment, our technology is helping address many long-standing and serious document identification and tracking issues faced by financial institutions."
The RDS 3000 is the most advanced document reader currently available for image capture. The system is rugged and compact, combining functionality and performance in a single device, enabling improved customer service and reducing additional document handling. It has a single interface and can be used to replace five different data entry devices: front and rear camera, OCR reader, MICR reader, barcode reader and magnetic stripe reader. ?The RDS 3000 provides an ideal platform for OCR and archiving application integration into all environments via a SCSI interface and optional API for Windows 95/2000 and NT, and has been developed to allow all service and data gathering functions in the
direct proximity of each branch or office. As a result there is no additional stand-alone hardware, cabling or software - all functionality is concentrated within the scanner. The RDS 3000 delivers binary images for ICR, CAR and LAR and archiving images with 256 grey levels.
ManTech Europe Ltd
Tel: 01753 838211