PLYMOUTH, Mich., May 20, 2013 /PRNewswire/ -- Burroughs, Inc. and Financial Transmission Network Inc. (FTNI), a provider of industry-leading receivable management solutions announced today they have partnered and completed the integration of the Burroughs SmartSource Adaptive Series scanner with FTNI's award-winning and SaaS deployed, ETran Integrated Receivables Management platform.
When a media production company approached FTNI, they were utilizing Check21 Remote Deposit Capture via a third party clearing bank. This process did not provide them immediate access to these deposits as they were electronically cleared into their own bank account, days later. While one of their primary objectives was to accelerate their access to those deposits, they were also searching for a simplified alternative to the related task of scanning and archiving the documents and remittances that accompanied the check payments. These documents arrived in a variety of sizes and formats, further complicating the process.
Burroughs, a leading provider of technology services and payment-related products, provided FTNI the SmartSource Adaptive scanner, a perfect fit for the media and Television Company. They selected the Adaptive because of its unique ability to scan 8 ½" x 14" documents and consistently read the magnetic ink that is used on a check's MICR line.
Based on the successful SmartSource Series check-imaging platform, the Adaptive incorporates many of the proven features first introduced on the Professional and Expert series models. Standard functionality includes a unique track design and unmatched endorsement/printing capabilities.
FTNI's ETran application allows clients to archive both the check and the accompanying document(s) made the scanning process a single pass activity. Archiving the check and document images as a single payment item was an added bonus. Having streamlined the scanning process, FTNI then solved the "availability of funds" issue by taking those deposits directly to this media company's bank, bypassing the 3rd party clearing bank delay.
"The addition of the Burroughs's SmartSource Adaptive scanner to FTNI's ETran platform provides our clients with a unique scanning solution that combines full-page and MICR documents in a single, complete batch – thus, creating improved efficiencies and productivity and lowering expenses," said Doug Fisher, Executive Vice President, for Software Solutions at FTNI.
Alan Howard, CEO and President of Burroughs, Inc. states, "Our company is fully committed to providing technically innovative products that ensure clients are able to meet current and future processing needs. FTNI is the type of partner we seek to incorporate our latest innovations."
Burroughs, Inc. offers its customers access to world class service, industry-leading technology, and overall support for a portfolio of technology related needs. Our vast portfolio consists of repeatable and custom solutions like the SmartSource® check and document scanners, SmartCash™ cash automation solutions; ATM products, ATM parts, enterprise servers, device performance management software, asset recovery, and supplies combined with implementation and maintenance services. The sales organization works through value-added resellers, distributors and directly with clients in more than 55 countries worldwide. Today, Burroughs focus on payment systems related technologies and services results in numerous efficiencies for anyone who processes check and cash transactions. For more information, please visit www.burroughs.com.
Financial Transmission Network, Inc.'s (FTNI) ETran platform incorporates Remote Deposit Capture (check scanning), ACH, credit card processing and cash posting, on single, managed platform to help clients reduce costs, accelerate timelines and improve transaction processing quality. The Company's cloud computing based software enables customers to setup recurring payments (ACH & credit card), message between users and provide custom integration into back offices systems, thereby reflecting the payment activity in the merchant's receivables system. This technology offers merchants a turn-key, single-payment platform in a software-as-a-service ("SaaS") environment that is fully PCI-compliant, thereby eliminating the hardware and software costs associated with traditional solutions. Due to its modular approach and easy deployment, the ETran platform can be deployed in a variety of verticals and customized easily to fit the end-users needs. For further information on FTNI, please visit www.ftni.com.
SOURCE Burroughs, Inc.