U.S. Bancorp, which operates 2,199 banking offices and 4,575 ATMs in 24 states, set an objective of capturing images at the prime pass stage in order to maximize use of on-us items for image work on "day two" processes, image statements and image exchange through the ViewPointe image archive (of which U.S. Bancorp is an owner) and SVPCo. To facilitate this initiative, the bank purchased several configurations of VECTOR:Capture for Prime Pass, as well as VECTOR:ImageEX, which provides image exchange.
"We recognize the importance of image quality which is why we chose VECTORsgi for this important piece of our imaging strategy," said Tom Rea, executive vice president for Transaction Services for US Bank. "As more banks begin to exchange images the greatest single issue will be the quality of the images exchanged. I am proud to say that US Bank has a system that produces images of the highest quality, and an imaging partner that has made image quality its top priority."
Inferior quality images can have long ranging cost impacts on the depository and paying banks as well as customer satisfaction. Poor quality capture leads to missing images, which occur when the data line on a check is captured but no matching image exists. Items with missing images cannot be processed without significant manual work and are sometimes simply written off by the bank.
"US Bank has established itself as a leader in the banking and financial services industry," said Sydney Smith Hicks, president and CEO of VECTORsgi. "The era of image capture and image exchange presents new challenges and opportunities for the entire financial services industry. By developing an aggressive and ambitious imaging strategy, US Bank has shown that it will continue in its role as an industry leader." U.S. Bank recently began capturing images of prime pass items in all eleven of its designated capture sites giving the bank full image capability for its entire prime pass capture volume.
VECTORsgi is an active proponent of industry-wide standards for the quality of check images exchanged between financial institutions and is leading the way in assisting banks to meet that goal with its line of VECTOR software products. These image-related products have built a strong reputation for performance - no other system can populate an image archive as accurately and reliably. VECTOR:Capture exceeds Six Sigma performance standards - the products are also scalable, and will run on many image capture devices from desktop models to IBM 3890/XP transports, in any quantity either centralized or distributed. In addition, VECTOR:Capture for Prime Pass has proven to be the easiest and most economical system of its type to install.