International Bank Selects CheckPlus Financial as Payment Management System
Recently a large international bank with 120 plus years of operating in 25 countries, selected CheckPlus Financial software as payment management system for its branch in Jamaica. The check printing software program integrates with bank’s OPIC system to process checks from multiple accounts, using multiple currencies and various formats.
The bank serves more than two million customers, provides innovative financial products and services to individuals, small and medium-sized businesses, and large corporations. Secure payment management system enables it to process payments more efficient. CheckPlus Financial improves accounts payable and payroll operations by centralizing payments in one location. When various bank departments use different systems to manage a certain part of the business, CheckPlus payment management system is able to pull the information together to generate payments. This centralization can save hours of manual work and automate operations.
CheckPlus Financial Payment Management System Components
Before implementation of CheckPlus Financial software, the bank was using pre-printed checks. There were many forms that they had to stock for various accounts, formats and currencies. They switched to blank secure check stock from Printech and were able to print all the checks on the same laser check stock. The software fills out all information on the check including check number, account number, routing number, payee and payor, date and other required details. The cost saving is significant and checks look professional with all required security components.
The bank implemented CheckPlus Financial payment management system in combination with OM Plus Delivery Manager software to increase productivity of its check printing operations. The software manages to process thousands of checks at a time in automated mode. The checks are printed on various devices and for cost cutting purpose, it is important to identify the most efficient machines to print checks. CheckPlus Financial payment management system processes payments and passes them to Delivery Manager software to print checks. The load balancing option spreads the batches across the devices efficiently.
One of the bank’s requirements was assurance that all checks were printed. Delivery Manager software communicates directly with the devices to ensure all payment are processed and checks are printed properly. In case of an error, a message is generated to the administrator to take action. The software also manages hold and release feature, so that operators may select and print jobs on demand when needed.
The bank is a leading financial institution in Jamaica offering a full range of retail banking and commercial services. The Management was pleased with the implementation of CheckPlus Financial payment management system. As the result, they were able to save cost, improve productivity, increase security and reliability of payment processing operations.
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