DAYTON, Ohio - Hy-Vee Inc., one of the nation's top-20 supermarket retailers, has selected NCR Corp. for the deployment of remote check-deposit capture with back-office conversion.
"Retail businesses have a very compelling alternative for check clearing with BOC, and the best news is that it can be accomplished without impacting the point-of-sale process," said Andrew Orent, vice president of payment and imaging solutions for NCR. "That is critical to retailers like Hy-Vee."
According to a news release, Hy-Vee is using NCR's ImageMark Commercial Passport technology across its entire 224-store chain. Hy-Vee's strategy is expected to reduce check-processing costs, allowing Hy-Vee to leverage the lower cost automated clearing house network. The National Automated Clearing House Association's new BOC ruling, which took effect in March, allows businesses to collect a check written at the check-out counter and convert it to an ACH transaction in the back office, finally depositing the transaction electronically.
Hy-Vee's solution includes remote, Web-based image capture, conversion, validation, archiving and associated services.
"We wanted more control over our costs and a way to utilize our bank operations," said Kevin Reeve, assistant vice president and controller at Hy-Vee Inc. "We felt our best option was to bring the technology in-house and look for ways to leverage our investment. ACH alone will save us about 4 cents on every deposited check. NCR understood our strategy and offered a very competitive, end-to-end solution. Based on what we have seen so far, we anticipate significant cost savings when the rollout is complete."
