Management Strategies

10:41 PM
Connect Directly

News & Rollouts

First National Joins the Party; Mitek's QuickStrokes Recognition Tool; IBM Enhances Workplace Solutions; Fuego's BPM 5.5; Bank of India Deploys Misys; Hancock Implements AlterPoint; Hancock Implements AlterPoint; Maybank Rolls Out Welcome

First National Joins the Party

Bank goes live on the Endpoint Exchange Network.

First National Bank (Omaha; more than $16 billion in assets) recently began processing check images for electronic clearing and settlement through the Endpoint Exchange Network. The bank is interfacing its full suite of image-enabled Advanced Financial Solutions (AFS; Oklahoma City) item processing applications to the network. According to First National, its current technology provides a compatible platform to convert from paper-based to image-based check clearing and settlement.

First National began considering clearing and settling check images electronically in early 2004 because of the operational and transactional cost savings associated with electronic check processing, relates Russ Oatman, the bank's senior vice president and division head. "First National is always looking for the most effective way to process payments," he says. "After comparing our mix of check deposits with that of the Endpoint Exchange membership, we determined we could realize cost savings by joining the network," Oatman adds.

"We had an agreement in place by June, installed and tested the product by October, and started live processing the first week in November," he continues. "Even though we worked under a condensed time line, the implementation went very smoothly and the product has subsequently worked great."

1 of 7
Comment  | 
Print  | 
More Insights
Register for Bank Systems & Technology Newsletters
White Papers
Current Issue
Bank Systems & Technology Oct. 14, 2014
Bank Systems & Technology's new Must Reads is a compendium of our best recent coverage of customer analytics. Learn what big data means for banks, meet Wells Fargo CDO Charles Thomas, find out how to connect with your Gen Y customers, and more.
Bank Systems & Technology Radio
Archived Audio Interviews
Join Bank Systems & Technology Associate Editor Bryan Yurcan, and guests Karen Massey and Jerry Silva from IDC Financial Insights, for a conversation about the firm's 11th annual FinTech rankings.