Mark Ripplinger, senior vice president at ATB Financial, said the implementation will help the company comply with the Truncation & Electronic Check Presentment initiative, a scheme set up by the Canadian Payments Association, which requires financial institutions to offer image-based clearing by 2007 in an attempt to eliminate the need for paper-based item exchange between clearers.
We are also looking forward to being able to offer, within the next two years, new image-based products and services to all our customers including faster and more convenient access to check image statements, e-statements on-line, as well as self-serve trace, CD-ROM check services and image-based Lockbox services for our business customers, added Ripplinger.
Symcor’s services will include clearing and back-office processing, such as check and bill clearing and processing services, statement production (except MasterCard), remittances and tracing services, out of province clearing and inter-branch mail services.
