Management Strategies

02:44 PM
Nancy Feig
Nancy Feig
News
Connect Directly
RSS
E-Mail
50%
50%

BB&T Taps Software Earnings’ Payments Navigator to Streamline Check and Item Processing

Supporting the industry's shift to electronic payments, the solution enables the bank to consolidate item processing sites and centralize major item processing functions via a centralized processing hub.

Winston-Salem, N.C.-based BB&T Corp. ($136.4 billion in assets) has adopted Software Earnings' Payments Navigator to improve check processing enterprisewide. Helping accommodate the industry's shift from paper to electronic payments, the solution enables the bank to consolidate item processing sites and centralize all major item processing functions using a series of remote capture sites to feed a centralized processing hub, according to the bank.

Beyond just reducing transportation costs, BB&T has extended its branch cutoff and same-day availability on items by as much as three hours for selected financial centers by using Payments Navigator and the centralized model, the bank reports. In addition, the software has the ability to accept unbalanced back-counter branch transactions, perform data perfection and prepare X9.37 files for electronic exchange.

"As the payment landscape becomes increasingly electronic, it was important that BB&T capture check images as close to the source as possible and automatically determine the optimal path for the image to reach the bank," said Tim Dillow, senior vice president of BB&T, in a statement. "Software Earnings' solution gives us a flexible capture model that easily fits into our existing systems, while also helping us stay on the leading edge of enterprisewide payments processing."

Comment  | 
Print  | 
More Insights
Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Slideshows
Video