BILLERICA, Mass., March 4, 2011 /PRNewswire/ -- Orbograph Ltd., a leading developer of recognition solutions for the U.S. check processing market, announced today that Whidbey Island Bank has successfully implemented its Automation Services solution as part of the company's growth strategy. Selected as Whidbey Island Bank's recognition platform of choice, Automation Services is running in conjunction with FIS's VisionIP™ check image system for branch image capture in each of its 30 branch locations.
Orbograph's patented Automation Services solution is the industry's only check recognition service for financial institutions with in-house check processing systems. Automation Services targets straight-through-processing (STP) levels of recognition efficiency by delivering performance results of 98% read rates with near 99% accuracy. Automation Services utilizes a Software as a Service (SaaS) business model which will enable Whidbey Island Bank to achieve higher accuracy levels, reduce short term costs, and absorb incremental acquisition volumes without adding data entry and balancing staff.
"Whidbey Island Bank was founded on the principle of providing exceptional customer service, and we are always looking for new ways to improve in this area," stated Joe Saletto, SVP, Whidbey Island Bank. "Automation Services delivers increased accuracy levels and streamlines our check processing. The combination of lower costs with higher accuracy supports higher levels of customer satisfaction."
"We replaced our existing CAR/LAR (courtesy amount recognition/legal amount recognition) system with Automation Services and immediately felt the efficiency benefits," stated Vanessa Cope, Data Processing Manager and Assistant Vice President Operations. "I love it because managing the department is easier and its one less thing to worry about when we acquire additional institutions."
"Whidbey Island Bank is a case study of efficiency for back-counter branch image capture," stated Joe Gregory, Vice President of Marketing for Orbograph. "The ability to drive out the extra costs of exception processing like data entry and balancing is critical for today's check processing environments."
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.
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.