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Unisys Launches Check Imaging Hardware and Services for Check 21 Legislation; New Check Processing System Facilitates Faster, More Secure Electronic Banking
BLUE BELL, Pa. --(Business Wire)-- April 5, 2004 -- To help banks comply with Check 21 legislation and benefit from the ability to exchange digital check images, Unisys Corporation has introduced the NDP Quantum Series -- a new check processing hardware system with related software and services that validates check image quality and accelerates financial services firms' overall check processing operations.
The U.S. Check Clearing for the 21st Century Act, or Check 21, mandates that banks accept image replacement documents (IRD), or electronic images of checks, in addition to paper checks. The act, which goes into effect on October 28, 2004, addresses the financial industry's intention to move toward more electronic processes, making their operations faster, more secure and more cost effective. The NDP Quantum Series responds to this drive with capabilities designed especially for handling image exchange and IRDs.
Half of all checks written in the world are processed using Unisys solutions, and Check 21 is the driving force behind the first major technological change made in banking in more than 50 years, said Gary Wallen, vice president and general manager, Unisys Systems & Technology, Payment Systems. The performance and functionality of the new NDP Quantum Series are key to an end-to-end Unisys solution that focuses on Check 21 and related image exchange issues.
Tests of the NDP Quantum Series in client environments have demonstrated up to 60 percent improvements in workload processing compared with previous NDP Series generations, as well as up to 20 percent faster workload processing compared with current competitive check processing system models.
Banks must work to assure their financial partners, and more importantly their customers, that check images have not been miscaptured or fraudulently altered. Check image exchange standards such as Check 21 make the quality, security and dependability of the image capture process more critical than ever before. The NDP Quantum Series combines industry leading check processing systems with financial industry expertise that understands the need for banks to verify the legitimacy and security of their check processing operations. Unisys also offers a companion image exchange solution, compliant with emerging industry standards, that makes it easier to transfer payment data related on the check.
We are particularly pleased with the new Quantum announcement from Unisys, said Paul Obermeyer, executive vice president, Comerica Bank. In our longstanding relationship, Unisys has worked very closely with us on Check 21 initiatives as well as many other technology developments. Together, we have been pioneers in image technology dating back to Comerica's installation of the original Unisys Image Proof of Deposit system in 1990. We believe the improvements offered by this product will keep both Unisys and Comerica firmly on the leading edge of innovation in the financial services industry.
Along with providing payment systems technology and services to the market, Unisys works actively with industry groups such as the Financial Services Technology Consortium (FSTC) and the Electronic Check Clearing House Organization (ECCHO) to develop image standards in response to Check 21 and encourage image exchange adoption across the industry.
Features of the NDP Quantum Series include:
-- An intelligent combination of check data recognition techniques that reduces rejects and facilitates exception item recognition, as well as Check 21 image quality flags that identify items with potential readability problems so an operator can review and correct information.
-- Technology that recognizes digital signatures to verify images and protect against image fraud.
-- Design changes that reduce jams, stoppages and downtime, including high-capacity document delivery for continual operation and a resume flow switch to restart post-exception processing quickly.
-- Front and rear upstream image cameras that reduce the size of the system and lower financial institutions' cost of ownership.
The NDP Quantum Series is available immediately. Prices for the Unisys NDP Quantum Series - with models that provide 200, 300, and 600 dpm speeds-- range from $65,000 for an entry-level 200 dpm model, to $250,000 for a fully configured 600 dpm system.
About Unisys
Unisys is a worldwide information technology services and solutions company. Our people combine expertise in consulting, systems integration, outsourcing, infrastructure and server technology with precision thinking and relentless execution to help clients, in more than 100 countries, quickly and efficiently achieve competitive advantage. For more information, visit www.unisys.com.
RELEASE NO.: 04058401
http://www.unisys.com/about__unisys/news_a_events/04058401.htm
Unisys is a registered trademark of Unisys Corporation. All other brands and products referenced herein are acknowledged to be trademarks or registered trademarks of their respective holders.
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