BancTec Joins the Financial Services Technology Consortium
01.10.2005 — Dallas
BancTec, a leading provider of check processing solutions, announced that it has joined the Financial Services Technology Consortium (FSTC) to participate in the consortium’s Phase II Image Quality and Usability Assurance initiative. The FSTC is a consortium of financial institutions, vendors, research organizations and government agencies with the goal of researching new technologies for the financial services industry.
The FSTC Image Quality and Usability Assurance initiative has the long-term goal of defining an operational framework for the industry that ensures that any check image, regardless of its capture point, meets the industry’s minimum requirements. The Phase II initiative will define the thresholds for key image metrics that can then be used to define acceptable image quality and usability standards.
"The project will undertake a robust, real-world analysis and test to provide actionable specifications and direction to the industry," said Zachary Tumin, FSTC executive director, "This will allow financial institutions, technology vendors, standards organizations, and other key partners to collectively implement baseline image quality and usability through industry collaboration." The results of Phase II are expected to provide the empirical justification for the image usability standards and business practices required by the industry.
"The FSTC Image Quality and Usability Assurance initiative is critical to developing a standard for check images that reduces the financial and operational risk of processing check images," said J. Coley Clark, BancTec Inc. president and chief executive officer. "The creation of an industry-wide framework that ensures check images meet minimum standards will make it possible for all financial institutions to realize the benefits of Check 21."
Participating in the FSTC Image Quality and Usability Assurance Initiative enables BancTec to provide industry expertise and resources in check processing and image capture to the project. BancTec will also leverage what it learns through the project to help enhance solutions, such as Image Sentry, its’ advanced image quality software designed to help companies that are capturing check images as part of Check 21.
Contact:
1-800-BancTec
inquires@banctec.com
