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Automatic Bank Remittance Processing: CETELEM chooses ITESOFT ALMAS

ITESOFT ALMAS's I-Spid solution processes 3 million remittances a year - postal or bank cheques and money orders - and cuts processing time by 60%

Farnham, 10 May 2006 -- ITESOFT, the specialist in automated data flow processing, has announced that CETELEM, part of the BNP Paribas Group, has selected the software solution I-Spid, which is produced and commercialised by its ITESOFT ALMAS subsidiary.

A European leader in consumer credit and financial services, CETELEM has 10,000 employees, 29 billion euros of customer credit and 15 million card holders worldwide.

CETELEM has decided to replace its traditional cheque magnetic encoding software by ITESOFT ALMAS's I-Spid automatic cheque processing solution (scanning + ADP + magnetic encoding). I-Spid was chosen for its performance levels, adaptability and capacity to manage multiple receipt flows.

CETELEM receives 3 million financial documents a year, which requires the implementation of an extremely long and tedious manual process that generates a large number of errors.

Catherine BROCHARD, Head of Customer Accounting, explains: "Until now, the data entry and magnetic encoding of cheques was performed manually. The processing of this mass of documents led to resource management problems: Firstly, we had difficulty motivating the staff to perform such repetitive work over long periods; in addition, manual data entry generated errors that slowed down the processing operation and delayed bank remittance.

The issues involved in the implementation of the I-Spid solution at CETELEM were:

- to accelerate the remittance of cheques,
- to improve productivity,
- to optimise data accuracy,
- to facilitate operator management and increase motivation.

The solution automatically processes all financial flows received. It performs scanning, automatic recognition of references and totals, and data checks to guarantee the accuracy of the information, bank remittance and the generation of account statements.

Now, following the installation of I-Spid, 80% of documents are processed totally automatically without any operator intervention and the bank remittance time has been cut by 60%.

CETELEM has gained improvements in customer services, with advisers at the branch having instant access to an image of the cheque concerned, enabling them to respond in real time to any customer's question on the subject.

Catherine BROCHARD concludes: "The ITESOFT ALMAS solution quite simply enabled us to resolve all the problems we had previously encountered!"