ADDISON, Texas, April 21, 2005 - VECTORsgi, a Metavante company and leading provider of financial transaction applications, announced the addition of VECTOR:PICS, a payment information and control system designed to replace a financial institution's paper-based capture system and prepare it for the transition to a Check 21 environment.
The product works as a long-term replacement for paper-based capture systems. The replacement can be implemented in steps or all at once. VECTOR:PICS builds on a bank's existing infrastructure, integrating with capture technology or image exchange components. VECTOR:PICS captures both data and images from a variety of sources, including scanners, remote branches, other banks and corporations.
"VECTOR:PICS further extends the capabilities of VECTORsgi solutions to deliver a complete environment independent of antiquated systems that will hinder growth and synergistic control in today's marketplace," said Sydney Smith Hicks, Ph.D., president of VECTORsgi. "As paper volumes decrease and electronic volumes increase, VECTOR:PICS furthers the migration from a paper-based world to an electronic world. It is a critical solution for a completely electronic environment, positioning banks to reap the benefits of image exchange and other forms of electronic payments."
VECTOR:PICS navigates a bank's transition to a total electronic network. With the solution, items clear faster, which mitigates risk and reduces fraud. Additionally, VECTORsgi offers consulting and production support services to help banks optimize their current paper-based capture system while transitioning to being a full image exchange participant.
VECTORsgi will host an industry briefing event Tuesday, May 3 from 8:30 a.m. until 11:00 a.m. at the Rosen Centre Hotel in Orlando, Fla. Steve Ledford, president of Global Concepts, will deliver a speech titled "Trends toward Distributed Capture & the Impact on Traditional Capture Methods." Rian Maloney, vice president of emerging image solutions for VECTORsgi, will detail the new VECTOR Payment Information & Control System and the expansion of the VECTOR Capture Anywhere Solution to include new distributed capture technology.