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Thursday, August 18, 2011
(CTS North America)
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Wixom, MI. – August 18, 2011 – CTS North America, a leading supplier of cash and check solutions for merchant, teller, branch, self-service systems and retail point-of-sales counters today announced the release of TopImage – a unique software solution designed to improve the legibility of challenging financial payment documents. In partnership with leading US financial institutions, CTS performed high-volume tests with real life items using TopImage and found increased read rates up to 2% over competitive algorithms, while reducing misread rates up to 20% - without degradation in device performance or an increased image size. TopImage is a proven image-enhancement performer with personal and business checks, money orders, deposit tickets and cash deposit tickets.
Financial institutions often have high expenses associated with costly exception processing which includes the handling of miss-reads - incorrectly interpreted CAR/LAR results. Misreads cause a transaction to be out of balance during teller capture and require additional research often while the customer is waiting, adding significantly to the transaction time. Because TopImage is effective on low contrast written checks – improving images for money orders and checks with gel pen writing, noisy backgrounds and security patterns - CAR/LAR read rates and accuracy are greatly improved allowing institutions to increase teller transaction size limits handled by the teller, reduce customer wait times, and minimize the number of transactions that need to be handled in a branch back-office or sent to a processing center.
“For financial institutions, the cost of poor image quality defects can be substantial, and increases at every stage of the transaction clearing - ranging from $0.10-0.15 for items identified before transmission, to more than $20-40 if handled as an adjustment. This requires images to be researched by the branch, sent to a processing center, re-scanned, or cleared using physical exchange,” explains Urs Bockli, Executive Vice President and General Manager for CTS North America. “With TopImage, read rates are substantially improved, out-of-balance conditions are minimized and resolution time and effort, along with the associated expenses, are greatly reduced,” adds Bockli.
About CTS
CTS is a leading global manufacturer of cash and check solutions for tellers, back offices, self-service systems and retail point-of-sale counters with three decades of growth, experience, and innovation. Under the leadership of its founders and owners, the company has grown to over $100m in annual revenue and 240 employees since 1980. CTS’ main strength is the fast-cycle design of innovative products, with more than 100 engineers dedicated to research and development of solutions for the financial services industry. Today, CTS has more than 1 million banking peripherals installed including over 300,000 scanners at end user locations across five continents. For more information, visit www.ctsna.com or contact Urs Bockli at 248-522-9531.
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