News
Union Planters Chooses Paragon Product for SafeCHECK Interface
May 7, 2003
10/14/02 - Union Planters, headquartered in Memphis, TN, is now processing SafeCHECK transactions through Paragon Application Systems' Paragon Connect interface. SafeCHECK, a check electronification product offering real-time check authorization and conversion, is from The SafeCHECK Company, LLC, which processes about 150,000 transactions for about 2,000 merchants in the Southeastern US per month.>
Mike Marzec, Senior Vice President of Union Planters Bank, said, "We chose Paragon Connect because Paragon had established a track record of successfully implementing support for SafeCHECK." Marzec continues, "We needed a solution that would integrate with our existing systems and allow us to support many correspondent banks. Paragon provided this solution on time, on budget, and with minimal impact on Union Planters resources."
Peter Sturgess, Vice President of Paragon Application Systems, said, "Installing Paragon Connect at Union Planters was straightforward largely because of the knowledgeable resources they made available to describe their existing systems. Union Planters also gave Paragon the opportunity to enhance the product to include settlement reporting-not only to the switch, but also between the correspondent banks."
Background
Union Planters Bank, headquartered in Memphis, TN, is one of the 30 largest bank holding companies in the United States with assets of $34.2 billion. A multi-state financial service company offering a full range of services from traditional personal and business services to insurance, investments, mortgage lending and specialized products, the corporation has 762 banking offices and 958 ATMs to serve its twelve-state market. More information on Union Planters is available at www.unionplanters.com.
Paragon Application Systems provides ATM and EFT software and services exclusively to the financial industry. With more than 90 financial institutions in 15 countries using over 350 products, Paragon is the leader in the design and implementation of ATM design and test tools as well as ISO 8583 testing and middleware solutions. Paragon is a Diebold Partner Information Xchange (PIX) member and an NCR Strategic Business Partner. More information about Paragon is available at www.parappsys.com.
SafeCHECK (www.safecheck.com) is owned by 11 top banking organizations in the country that together account for 45% of the nation's demand deposit accounts, and three EFT switches. With SafeCHECK, checks are processed electronically within seconds, converting a paper check into a point-of-sale debit transaction. This service significantly decreases processing costs and dramatically reduces the risks taken by merchants, financial institutions, and processors. The banking organization owners of SafeCHECK are: ABN AMRO Services Company, Inc., Banc of America E-Commerce Holdings, Inc., BB&T, Citibank, Fleet National Bank, JPMorgan Chase Bank, USBank, Union Bank of California, Union Planters, Wachovia and Wells Fargo. NYCE Corp., PULSE and STAR are also owners. For more information, contact Anne O'Toole, SafeCHECK's Executive Director at 212-612-9315 or anne.otoole@safecheck.com.
Included In This Story
Diebold Nixdorf
As a global technology leader and innovative services provider, Diebold Nixdorf delivers the solutions that enable financial institutions to improve efficiencies, protect assets and better serve consumers.
