|Check processing modernized at Peoples Bank|
Peoples Bank of Moniteau County, Mo. has selected its Integrated Image Teller and Integrated Document Imaging products from Integrated Bank Technology to increase the efficiency of check processing and document imaging.
Peoples Bank Selects IBT’s Integrated Image Teller and Document Imaging Products
Solutions to speed up processing and increase efficiency
Cedar Park, Tex., June 9, 2008 – Integrated Bank Technology (IBT), a company that specializes in engineering robust software applications and provides 24/7 support services to community financial institutions across the country, announced that the Peoples Bank of Moniteau County, Mo. has selected its Integrated Image Teller and Integrated Document Imaging products to increase the efficiency of check processing and document imaging.
The search for new technology began when Peoples Bank decided it wanted to enhance its processing capabilities. The bank was introduced to IBT through the company’s preferred partner, Financial Systems & Equipment (FS&E), a multi-faceted consulting, marketing, and service organization that have worked with the bank in the past. Based on Peoples Bank’s needs, it considered IBT’s image teller and document imaging products.
“The day that IBT spoke with us was the day that we purchased the software,” said Tricia Shaffter, the assistant operations officer for Peoples Bank. “Since we’ve had such a successful partnership with FS&E, we were grateful that they were able to refer us to IBT and in comparison to other technology vendors, IBT was better positioned. The products seemed easy to use and very user-friendly. Also, we like the fact that the software is not connected to the core processor so if it goes down, we can use IBT’s Integrated Bank Environment (IBE) as a back up.”
First, Peoples Bank implemented IBT’s Image Teller. This means that from the moment that the customer presents the transaction to the teller at the counter the items are scanned into IBE, completely reengineering the traditional Day 1, followed by Day 2 processes. It maintains the transaction in digital form, allowing for electronic presentment and real time posting of transactions. Image teller completely eliminates transporting paper checks to the main branch every day. The application can also automatically photograph each customer as they approach the teller window and store the image as part of the transaction journal history archive. Everything that happens in that interaction is logged for both the customer and Peoples Bank itself. The information is accessed instantly and there is no lengthy search involved anymore.
In February the bank also installed Integrated Document Imaging. No paper reports ever need to be printed. The audit feature that is built into the application allows Peoples Bank to put every document in the bank in digital form and trust that it is properly reviewed before the original paper is destroyed. This gives Peoples Bank more time to not only manage document image quality, but also maintain the integrity of filing. And since Integrated Document Imaging stores all of the bank’s documents in one centralized database, the time and costs associated with document management, retrieval and storage have been significantly reduced.
“A number of financial institutions are responding to the current economic downturn by postponing or cancelling technology projects,” Mike Golebiowski, president at IBT, explained. “Banks are beginning to realize that investment in new technology innovation, such as IBE, will increase their profitability and improve service performance to their customers. Peoples Bank decided to make the investment and the bank will reap the benefits for years to come.”
About Integrated Bank Technology
Cedar Park, Texas-based Integrated Bank Technology (IBT) provides software applications and support services to community financial institutions across the country. The company’s flagship product, Integrated Bank Environment, is a robust software application that is designed to enhance a financial institution’s overall customer experience while making the cost of ownership affordable.
For more information, visit www.iBankTech.net.
About Financial Systems & Equipment
Founded in 1981, Financial Systems & Equipment Inc. (FS&E) has provided more than 800 financial institutions with the widest choice of hardware and software products. Its technology facilitates business activities through electronic management of image delivery, workflow and regulatory compliance. FS&E is committed to financial institutions and their success and the company continuously provides clients with successful implementations of image teller, image checks and loan compliance tracking systems.
For more information, visit www.FinancialSystems.net.
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