OKLAHOMA CITY, June 10, 2005 â Advanced Financial Solutions, Inc. (AFS), a Metavante company and leading provider of image-enabled payment processing solutions to the financial services industry, today announced an agreement with Sherpa Business Solutions, an ICICI OneSource company, to provide remote keying and balancing services for AFS clients around the world.
This strategic business alliance with Sherpa Business Solutions is the latest AFS offering designed to provide clients with state-of-the-art back-office banking functions on an augmented, outsourced, basis. Traditionally, financial institutions use internal staff to key and balance all incoming tapes and batch balancing tapes. With this enhanced capability, AFS clients now have the option of outsourcing the keying and balancing of checks on an "as needed" basis. These new services take full advantage of AFSâ ImageVision product suite used by more than 7,500 financial institutions and operations centers worldwide.
"Sherpa Business Solutions supports remote keying and balancing anywhere in the world over a wide area network," said Scott Shafer, president, Sherpa Business Solutions. "Our services provide a valuable on-demand resource that enable AFS customers to seamlessly outsource work that is spread over multiple time zones and be keyed and balanced in time to meet crucial deadlines."
Remote key entry and balancing helps resolve a number of issues facing financial institutions and remittance departments today. Remote keying simplifies the process of completing work and meeting deadlines by absorbing volume increases and spikes. Workload balancing can not only be automated, but can also be distributed and keyed remotely. Employees can simultaneously work on the same job, and even transfer workloads to remote personnel at other sites worldwide. Remote keying and balancing can be deployed to streamline and balance the workflow throughout the day, reducing the end-of-day "crunch" time. In addition, these services can help to decrease overtime labor costs by expanding the processing window along with helping to reduce issues related to attrition, hiring, and training for this critical function.
Remote key entry and balancing may also eliminate the need for additional data entry equipment needed on-site for keying and balancing. In a business recovery environment, Sherpaâs remote keying and balancing services may replace the need for redundant on-site proofreading and keying.
"Sherpa Business Solutions will provide our customers with the option to access to a highly skilled, professional staff that can minimize their exposure to labor shortages, labor costs, processing bottlenecks, down time, and the peaks and valleys of work distribution," said Gary Nelson, president of AFS.