DAYTON, Ohio -- FleetBoston Financial (NYSE:FBF) has completed the initial conversion of two processing sites for envelopes deposited in ATMs located in Massachusetts and Connecticut using NCR Corporation's (NYSE:NCR) ImageMark Capture technology.
A third site in New Jersey will be added in June, according to a news release.
With ImageMark, FleetBoston is using recognition technology to reduce the keying and matching of items. According to the release, the system reduces manual keying by more than 80 percent.
Ralph Catalano, FleetBoston Deposit Operations executive, said in the release, "We selected ImageMark because of its flexibility to handle large volumes and multiple deposit streams. We're processing over 300,000 ATM deposits per night with very high recognition rates. That means processing is completed faster and with a more efficient use of labor."
ImageMark also will position FleetBoston for check truncation, Catalano said.
