LAS VEGAS--()--Alogent Corp., a leading provider of enterprise payment transaction processing solutions for global financial institutions and processors, is cited by leading industry sources for the implementation success of its Sierra Xpedite® Deposit Automation Solutions at more than 1,000 financial institutions. Particularly noteworthy is Alogent’s distinct leadership in the teller deposit automation arena, with a majority market share in live deployments plus unparalleled teller system integration capabilities.
“representing an even more powerful business case.”
As a testament to the company’s demonstrated success, three Tier 1 financial institution customers will discuss the impact of branch image capture processes on their customers and operations at a Banking Administration Institute (BAI) Retail Delivery Conference & Expo general session on Thursday, November 15th at 2:45 p.m.
“The shift to real-time transaction processing is a key driver in the continued evolution towards true paperless processing at U.S. financial institutions,” said Brian Geisel, founder and CEO of Alogent Corp. “The traditional, manual batch processing approach has given way to new approaches and workflows – such as intra-day image exchange – that create tremendous cost savings and efficiency advantages for institutions using branch deposit automation. With front counter (teller) solutions in particular, enhancements to the customer experience set the stage for stronger, more lucrative banking relationships over time,” he said, “representing an even more powerful business case.”
Today, banks are adopting branch capture not only for its Check 21 cost savings, but also for its significant real-time benefits across the entire enterprise. In The State of Distributed Capture: Imaging at The Retail Channel, Celent notes that 90% of U.S. banks will implement branch and/or teller capture solutions over the next five years.
In the same report, Celent recognized Alogent as the single deposit automation provider with the most branch and teller system integration experience, now integrating in live operations with more than nine major teller systems, and numerous additional projects in progress. In an earlier report, Celent noted Alogent’s clear leadership in branch image capture in three ways:
- A significant lead in teller capture deployments, having demonstrable integration with multiple teller systems;
- The world’s largest branch image capture implementation; and
- Industry leadership in overall deployment of seats
Stated simply, no one has more experience in branch capture, the report stated.
Alogent’s Sierra Xpedite® branch and teller deposit automation solution dramatically increases efficiency and reduce costs. The application replaces sequential, manual processing steps with end-to-end automation, reducing key strokes and supplemental tasks at the teller counter as well as reducing errors.
Sierra Xpedite automatically validates, proofs, balances, and manages transactions in real time. It also eliminates and truncates paper items as early in the workflow as possible. Transaction item correction can be performed with the customer still present in the bank, saving significantly on the time and effort required for later manual correction processes while not impacting the amount of time a customer spends in a branch. Capture and processing for large commercial transactions can be deferred and performed through a patented process at a later time in the branch, or in virtual data centers throughout the day.
By automating the deposit process at the earliest point of presentment, financial institutions can optimize available face time with customers in the branch and leverage a valuable opportunity to promote additional product and service offerings.
According to John Leekley, founder and CEO of RemoteDepositCapture.com, branch remote deposit capture is becoming a ‘must-have’ for every bank. “As the remote deposit capture (inclusive of branch capture) industry and technology continue to evolve, banks have quickly discovered the benefits of deposit automation. Leading banks have already proven that branch capture can significantly reduce expenses, increase processing efficiencies, extend cutoff deadlines, improve availability, and provide a better experience for both bank personnel and customers alike. With over 90,000 bank branches in the US, branch deposit automation can unlock billions in value for both banks and their clients.”
About Alogent
Founded in 1995, Alogent Corporation is a leading global provider of enterprise-wide deposit automation technologies that enable financial institutions and processors to leverage the conversion of paper to electronic processing. The company’s Sierra suite of solutions automates deposit processes at every point of presentment (including branches, ATMs, merchants, corporations and cash vaults), while optimizing electronic data and image processing and settlement. As the deposit automation market leader, Alogent’s platform processes billions of payments annually, with more than 75,000 seats sold to date. The company counts KeyCorp, Lloyds TSB and SunTrust among its 1,000+ financial institution customers. For more information, visit www.alogent.com or call 888.333.6030.
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