OKLAHOMA CITY, February 22, 2005 â Advanced Financial Solutions, Inc. (AFS), a Metavante company and leading provider of image-based payment processing solutions to the financial services industry, has announced a series of seminars titled, "Merchant Capture to Image Exchange: The Coming Check 21 Revolution." The conferences will take an in-depth look at merchant capture and check image exchange technology and the new opportunities they present for financial institutions and their commercial depositors.
The seminars are a service of the Advanced Financial Solutions Consulting Services Group, and will be delivered by the companyâs top consultants in check image exchange, distributed image capture, and new product strategies. Each seminar is scheduled from 10:00 AM to 2:00 PM, local time, with a working lunch at noon.
The seminars are scheduled for:
Â· Feb. 23, 2005 â Baltimore, MD
Â· Feb. 24, 2005 â Richmond, VA and Seattle, WA
Â· March 1, 2005 â Tulsa, OK
Â· March 2, 2005 â Dallas, TX and Birmingham, AL
Â· March 3, 2005 â Tallahassee, FL and San Antonio, TX
Â· March 15, 2005 â West Des Moines, IA
Â· March 16, 2005 â Omaha, NE and Harrisburg, PA
Â· Marsh 17, 2005 â Sioux Falls, SD and Pittsburgh, PA
Â· March 23, 2005 â West Palm Beach, FL and New Orleans, LA
Â· March 24, 2005 â Orlando, FL and Columbia, MO
Â· March 29, 2005 â Lansing, MI
Â· March 30, 2005 â Memphis, TN and Chicago, IL
Â· March 31, 2005 â Minneapolis, MN and Knoxville, TN
Â· April 5, 2005 â Springfield, IL
Â· April 6, 2005 â Indianapolis, IN and New York, NY
Â· April 7, 2005 â Worcester, MA and Cincinnati, OH
All seminars will explore the new trends, emerging technologies, and financial realities pertaining to electronic payment processing in a post-Check 21 world. With paper check processing costs increasing at twice the rate of electronic payments, financial institutions are finding they must quickly adapt its processing, platforms, and technology to compete in an increasingly image-based environment.
Gary Nelson, president of AFS, commented on the upcoming national seminars, "Merchant capture and check image exchange are rapidly changing the deposit landscape. The software and infrastructure necessary to support the receipt and processing of image-based deposits and payments from corporate clients is now available and affordable. The AFS seminars are being offered to assist financial institutions develop a comprehensive merchant capture and image exchange strategy to attract new corporate accounts and strengthen existing relationships."
Merchant capture provides numerous benefits to both the bank and the corporate depositor. Continued Nelson, "Banks will benefit from reduced workloads, improved customer loyalty and consolidated depositor relationships, as well as expanded reach and market share. Corporate depositors benefit by the acceleration of funds availability, the consolidation of accounts, the elimination of transportation costs, and reduction of posting errors."
Check image exchange is quickly emerging as the primary method for processing checks. By placing a check image exchange "client" with a merchant depositor, the customer can forward present check images of all payments to their bankâs back room resulting in same or next day availability of funds, reduced float and check fraud, and the identification and processing of exception items via image, without any paper being processed.