FleetBoston Financial has signed a long-term agreement to implement Viewpointe Archive Services' check image archiving technology. Fleet will utilize Viewpointe's national image archive to electronically store and rapidly access checks and other financial documents for customers, and to reduce check processing costs.
Viewpointe, which archives and provides access to over one billion new check images each month, gives Fleet's retail and commercial customers immediate access to check information through new products and existing channels. In addition, Viewpointe enhances Fleet's ability to process and store check information.
Ultimately, Fleet will be positioned to participate in Viewpointe's image exchange program, which eliminates costs and inefficiencies associated with the transportation and duplicate processing of paper-based payments.
"We realized that we were outgrowing our current in-house image archive and our ability to meet the growing demand for check and document images," according to James Witkins, managing director for wholesale technology and operations at $187 billion FleetBoston Financial. "Viewpointe provides us with a total and quick solution which really allows us to skip a whole generation of in-house development."
"Viewpointe's imaging services allows us to get the solution to market fast and efficiently to ensure our customers' experience remains world-class," he added.
Noted Mary Ellen Baker, managing director for consumer technology and operations at FleetBoston, "With imaging capability, Fleet will be able to more quickly and efficiently address customers' check related questions through any of our customer touch points-over the telephone, in the branch or though our online banking service, HomeLink."
Fleet is one of Viewpointe's largest customers. "Their image volume coupled with our existing customer business adds significant value to our national archive business, and moves the industry closer to national check image exchange," said John Lettko, chairman and and CEO of Charlotte, N.C.-based Viewpointe Archive Services.
Other customers include Bank of America, First Tennessee National Bank, HSBC Bank USA, JP Morgan Chase, SunTrust Banks, U.S. Bancorp, and Zions Bank.
Separately, Viewpointe has contracted with Advanced Financial Solutions, a provider of image-based processing, payment, and transaction software, to integrate the AFS eVision Check, a check and item research system, into Viewpointe's image archive solution in order to simplify and speed customer image technology implementations.
Enterprise-wide, fast access to check images and transaction information allows banks to detect and prevent fraud, assist customers in seconds, and eliminate inefficient, labor intense research operations. AFS eVision Check, a browser-based thin-client solution, provides back-office personnel and customer service staff with secure check image research and print capabilities.
For Viewpointe's clients, the AFS product is an alternative to building retrieval capabilities in-house, thus eliminating a significant step in implementing image technology.
"Check image requests are often time-sensitive and require an immediate response," said Gary Nelson, president and CEO of Oklahoma City-based AFS.
Using AFS eVision Check, Viewpointe's customers can pull up a list of all imaged transactions to address customer service questions and back office research requirements. Just a point-and-click brings the front and back image of the check to a PC screen.
"After listening to our newest customers and prospects, we learned that they desired proven, robust technology that they could easily implement and administer through their enterprise to speed their image capabilities," said Lettko.
"AFS eVision Check proved to be the best application to help us meet that need," he added.