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April 13, 2005

Fiserv releases iLink remote deposit platform

Brookfield, Wisconsin-based Fiserv has developed a remote deposit system that uses imaging technology to electronically process corporate checks.

By CBR Staff Writer

According to the company, the new iLink program enables corporate customers of financial institutions to scan checks and then use digital images and image replacement documents (IRDs) to present and clear inter-bank checks.

Unlike solutions that have tried to adapt back office or branch capture technology, iLink is the first product on the market that has adapted a front-end business banking product to incorporate remote item capture and deposit capabilities via a browser and the web. said Gary Kasik, president of Fiserv’s Banklink unit.

The system uses the company’s Imagesoft imaging technology to ensure that images captured at the end user’s location will be acceptable for clearing via Check 21-enabled check image clearing options. It also deploys courtesy and legal amount recognition software to electronically determine the dollar amount of each deposit item and reduce the amount of key entry required to complete a transaction.

Guaranty Bank of Dallas, Texas is offering the product to its corporate customers as part of a five-year extension of iLink Cash Management services with Banklink.

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