Republic Bank Maximizes Branch Capture Efficiency With Orbograph's Automation Services™

BILLERICA, Mass., May 4, 2011 /PRNewswire/ -- Orbograph Ltd., a leading developer of recognition solutions for the U.S. check processing market, announced today that Republic Bank has successfully implemented its patented Automation Services solution as part of the company's cost reduction and efficiency strategy. Republic Bank selected Automation Services as the recognition platform of choice in conjunction with Open Solutions' ISCheck™ and ISRemote™ branch image capture solution.

Automation Services targets straight-through-processing (STP) levels of recognition efficiency by delivering performance results near 98% read rates with 99% accuracy.  Automation Services enables Republic Bank to virtually eliminate data entry, improve reject re-entry efficiency, streamline balancing and absorb Monday and Friday peak day volumes without extending staff hours.

"Regulatory changes continue to put pressure on our bottom line," stated Mike Long, Vice President of Republic Bank. "By essentially eliminating data entry with greater accuracy and improved branch capture procedures, our item processing associates can focus on what they do best – balancing transactions and getting branch staff out the door, rather than getting stuck in data entry mode on peak days.  The workflow is also more flexible, as we can leverage balancing resources faster and at the branch level if we choose. The result is lower FTE requirements."

"The migration from OrboCAR Super Trinity™ or OrboCAR Accura™ to Automation Services highlights a tremendous value proposition for our client base," stated Andy Leonhardt, Vice President of Sales for Orbograph. "Processes like data entry and reject repair are non-value processes, whereas balancing is a critical function for validating customer deposits. More banks like Republic Bank want to eliminate non-value functions."

About Orbograph

Orbograph (www.orbograph.com), a subsidiary of Orbotech, is a leading provider of recognition-centric software and services for the check processing and forms processing markets. Orbograph's innovative technologies are in use in over 1,000 financial institutions and service bureaus, processing billions of checks and forms annually. Through check processing automation, fraud prevention, data mining for marketing and forms processing automation solutions, Orbograph enables clients to envision more for their organization by reducing costs, managing risk and driving revenue growth, while ensuring that achieving more is a reality.

About Republic Bancorp, Inc.

Republic Bancorp, Inc. (Republic) has 43 banking centers and is the parent company of Republic Bank & Trust Company and Republic Bank. Republic Bank & Trust Company has 35 banking centers in 13 Kentucky communities, banking centers in Florida, as well as Cincinnati, Ohio. Republic operates Tax Refund Solutions, a nationwide tax refund loan and check provider. Republic offers internet banking at www.republicbank.com. Republic has $3.4 billion in assets and $1 billion in trust assets under custody and management. Republic is headquartered in Louisville, Kentucky and Republic's Class A Common Stock is listed under the symbol "RBCAA" on the NASDAQ Global Select Market.

NOTE: Actual performance may vary according to hardware used, configuration or other factors within your processing environment. Statistics cited in this release do not constitute guarantees of performance.  For more information, visit us online at www.orbograph.com.

SOURCE Orbograph Ltd.