EMERYVILLE, Calif.--(BUSINESS WIRE)--May 29, 1997--IA Corp.
(NASDAQ:IACP) announced today it made a breakthrough solution in the
cash management software arena by providing QuestPoint, a leading
transaction processing company based in Philadelphia, the first
client/server image-based cash management system compatible with
IBM's IOCA/ABIC image compression format.
The system is compatible with the IBM, NCR and Unisys platforms
widely used by banking and transaction processing institutions. IA's
new software solution is the first of its kind in the cash management
industry and offers financial institutions a more flexible and
cost-effective solution.
"Customers now have a cost-effective alternative to proprietary
software systems," said Thierry Leger, IA vice president of
marketing. "By targeting a commonality among the various
hardware/software solutions, IA provides a solution that works across
several manufacturers' platforms."
QuestPoint chose IA's CheckVision software with its Magnetic
Storage Subsystem and CD-ROM Production Facility to process more than
300,000 items per day. Check Images are captured and stored
electronically in CheckVision's Magnetic Storage Subsystem for easy
retrieval and on-line access, enabling improved customer service
and new on-line services for clients.
The new QuestPoint check image storage and services are based on
IA's CheckVision software: ARP (accounts reconciliation process), CD
Delivery, Positive Pay, and Retrieval. With this CheckVision
software, QuestPoint can easily set up and customize CD-ROM delivery
of check images to its financial institution clients as well as offer
on-line viewing.
The new IA software supports IBM's ABIC image compression format.
In addition to IOCA/ABIC, it also supports industry-standard
TIFF/CCITT and TIFF/JPEG, making it the first mixed mode check
storage and cash management system of its kind.
"In the fiercely competitive banking environment where mergers
and acquisitions are an everyday reality, this mixed mode product
lets banks implement an open architecture solution that will work
with any capture transport and the growing number of multiple check
image applications used in financial services, today and in the
future," noted Leger.
In collaboration with QuestPoint, CoreStates Bank, N.A,
headquartered in Philadelphia, is the first bank to take advantage of
enhanced CheckVision solution. "The flexibility that IA's product
provides goes above and beyond all other check image application
software available in the marketplace today," said Sanford Lazar,
senior vice president of application development, CoreStates Bank,
N.A.
"Rather than being limited to one platform, IA's solution now
allows us to capture, store and view check images in a variety of
formats for our customers."
IA CheckVision
IA CheckVision provides image-based check processing applications
for banks to optimize their cash management services. CheckVision's
full suite of applications include:
-- CheckVision Archive stores MICR images to a variety of media
for short and long term research and retrieval.
-- CheckVision ARP integrates existing ARP services with stored
check images.
-- CheckVision Delivery writes images to various media and
delivers images.
-- CheckVision Exchange transmits check images between sites.
-- CheckVision Positive Pay allows banks to receive immediate
confirmations for suspect checks through images transmitted to PCs,
which reduces check fraud.
-- CheckVision Research/Inquiry allows PC-based inquiry and
retrieval of check images.
-- CheckVision Statement produces account statements with check
images.
QuestPoint Background
QuestPoint, established in 1994, is a specialty transaction and
information processing company providing remittance, check and
document services to more than 400 financial institutions and nearly
5,000 corporations.
Through its specialty processing units -- Remittance Services,
Check Services and Document Services -- QuestPoint offers uniquely
focused and technology-enabled solutions to meet the paper processing
and electronic migration needs of the financial institution market as
well as the direct payment processing needs of large retail billers.
Across its service units, QuestPoint annually handles nearly 2.5
billion paper items and operates more than 25 processing locations in
the United States and Canada. QuestPoint is a subsidiary of
CoreStates Financial Corp.
CoreStates Background
CoreStates Financial Corp (NYSE:CFL), a Philadelphia-based
banking company with assets of $45.1 billion, markets broadly
diversified financial products and services in the middle Atlantic
region and selected product and services worldwide.
CoreStates is a top 10 provider of a broad range of cash
management transactional products and services as well as services to
the business and institutional market including services such as:
retail and wholesale lockbox, a national lockbox network, CHIPS, EDI,
information reporting and funds transfer services.
IA Background
IA Corp. (NASDAQ:IACP) is headquartered in Emeryville, Calif.
The company develops, markets, implements and supports software
solutions for financial service organizations that require flexible
automation of high-volume, complex transactions.
The company currently sells two leading application framework
software products for advanced cash management services, CheckVision
and RemitVision, which are built upon the company's advanced
client/server complex transaction management software platform,
WorkVision.
IA offers scalable, enterprise-wide application framework
software products that enable its customers to manage and automate
their business process from end to end. These software products are
deployed through professional services that include comprehensive
installations, training, ongoing maintenance, support and development
services.
The company's customers include GE Capital Mortgage Corp.,
Harris Bank, Mellon Bank Corp., Sanwa Bank California, Ltd.,
and UMB Bank, N.A.
IA is located at 1900 Powell St., Emeryville, CA, 94608-1840,
USA. Telephone: 510/450-7000, fax: 510/450-7099,
e-mail: info@ia-us.com and website: www.ia-us.com .
CONTACT: IA Corp.
Thierry Leger, 510/450-6816
thierry.leger@ia-us.com
or
QuestPoint
Kevin Stirling, 215/973-3546 |
