According to the agreement, the bank will use the ImageVision platform to consolidate its item processing, retail lockbox and wholesale lockbox applications. It will also create a single image-enabled system that will integrate and store all the bank’s payment processing data.
Les Starr, executive vice president of operations and information technology, Sky Bank, commented: AFS ImageVision brings all the pieces of the puzzle together and gives us the flexibility to expand our system and add new applications as future needs dictate.
According to Advanced Financial Solutions (AFS), the payment processing suite also features proof-of-deposit, reject repair, online check research and image statements.
Additionally, Sky Bank plans to deploy two Check 21 platforms from the company, the AFS Return 21 and Forward 21, in the hope of producing Image Replacement Documents (IRDs) for returns and forward presentment. IRDs allow banks to truncate 100% of transit items and reduce the number of physical items by sorting them electronically and printing IRDs for the returned items.
