LONDON, March 11 /PRNewswire/ --
BancTec Ltd., a global provider of advanced, high-volume, document and payment processing services and solutions, has signed a three-year agreement with Allied Irish Banks (AIB) to image-enable AIB's cheque clearing system with an online archive and retrieval solution. The automated solution replaces AIB's legacy microfilm system.
BancTec has developed a robust archive and retrieval solution that will significantly increase the efficiency of our clearing operation, said Donal Coogan, Clearing Operations Manager, AIB. This managed service will deliver operational efficiencies, reduce operational risk and help us deliver better customer service.
AIB has been a BancTec customer since 1994, when it originally purchased a cheque processing system. To deliver the business benefits sought by AIB, BancTec is upgrading the scanning system's image cameras in order to capture the fidelity required by an online system. In addition, BancTec's eFIRST(TM) solutions are being utilised to capture and store the cheque images, which will reside in a BancTec-hosted and managed archive. When fully operational, AIB personnel will be able to access online cheque images, replacing the time-consuming process of looking up cheques on microfilm.
AIB's need to improve the efficiency of its check clearing and archive process is a common one among large, multi-national financial institutions, said Steve Downey, General Manager, BancTec Ltd. Our experience delivering leading edge capabilities in a managed-service environment was a perfect fit for AIB's requirements. We look forward to expanding the capabilities of this solution as AIB expands its business.
About AIB
AIB Group is Ireland's leading banking and financial services organization. It operates principally in Ireland, Britain, the USA and Poland.
About BancTec
BancTec helps clients around the world simplify the process of managing their information. Founded in 1972, the company provides a wide range of solutions for automating complex, high-volume and data-intensive business processes for clients in the financial services, healthcare, manufacturing, government, services and utilities industries. BancTec's offerings include business solutions, business process outsourcing, and infrastructure services. With headquarters in Dallas, BancTec serves clients in 50 countries. For more information on how BancTec can help you optimize information management, visit www.banctec.com or call 1-800-BANCTEC.
Forward-Looking Statements
All statements in this press release that do not directly and exclusively relate to historical facts are forward-looking statements describing BancTec's objectives, targets, plans, strategies, costs, anticipated capital expenditures and expected cost savings. These statements represent BancTec's intentions, plans, expectations and beliefs, and are subject to risks, uncertainties and other factors, many of which are outside the Company's control. These factors could cause actual results to differ materially from such forward-looking statements. For a written description of these factors, see the section titled Risk Factors in the Company's Registration Statement on Form S-1, as amended, initially filed with the Securities and Exchange Commission on August 8, 2007. The Company disclaims any intention or obligation to update these forward-looking statements whether as a result of subsequent events or otherwise except as required by law.
James Silcock of BancTec Ltd., +44-01753-778750, james.silcock@banctec.co.uk
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