News

Fiserv launches scalable end-to-end check capture, processing solution

June 18, 2012

Fiserv Inc., a provider of financial services technology solutions, has announced the launch of Central Source Capture, a web-based, end-to-end check capture and processing solution. The system allows financial institutions to scale to demand while capturing check images and data and routing each item for posting or distribution based on rules established by the institution.

Designed for use by large FIs, Central Source Capture automates all aspects of the item processing operation including capture, data perfection, electronic cash lettering, clearing, settlement and outputs to posting and image archive. This reduces the need for specialized resources to manage the movement of paper checks.

The solution integrates seamlessly with core account processing systems and remote capture applications to provide an end-to-end image exchange workflow regardless of the point of capture. This includes integration with the Fiserv suite of Source Capture Solutions, which comprises Mobile Source Capture, ATM Source Capture, Branch Source Capture and Merchant Source Capture.

"Even though check volumes continue to decline, check processing is still a necessary and important function for financial institutions," said Gary Brand, director of Source Capture Solutions at Fiserv. "Unfortunately, many of the legacy, centralized check processing systems have become antiquated, making them costly, complex systems to maintain … [W]e are giving financial institutions a modern, cost effective item processing solution so that they can focus their resources on other areas within their institution where demand is growing."

"With the pace of change accelerating, financial institutions are faced with resource challenges. A solution that helps financial institutions streamline item processing functions can free up time and money to dedicate toward strategic initiatives," said Bob Meara, senior analyst at Celent.

For more on this topic, visit the deposits/Check 21 research center.