MT. PROSPECT, Ill., Sep 13, 2011 (BUSINESS WIRE) - Cummins-Allison, the leading innovator and provider of currency and coin handling solutions, announces an industry first - check image capture using the same device that also processes currency. The JetScan iFX(TM) i100 is a revolutionary two-in-one device that brings significant efficiencies to businesses that process both checks and currency.
The JetScan iFX i100 captures full, industry-standard, high-quality images of checks and MICR line data at a speed of 400 documents per minute, leapfrogging much slower competitive equipment. The check images and data can integrate into Remote Deposit Capture (RDC) systems, providing real-time posting and clearing of checks.
Branch capture is accommodated by this unique two-in-one device as complete deposits - checks, currency and deposit slips - can be processed in the backroom or at the teller line in minutes.
"One of the factors preventing financial institutions from implementing branch capture is the slow speed of existing check scanning equipment," says Rob Klein, Director of Enterprise Solution Design & Integration at Cummins-Allison, "but at 400 documents per minute, the JetScan iFX i100 removes this barrier - making true teller capture feasible. Capturing checks at the earliest point of presentment - at the teller line - is the most efficient form of branch capture and now this can be done quickly."
The JetScan iFX i100 also reduces or eliminates piggybacking, one of the most time-consuming errors encountered in deposit processing. Competitive units are prone to pulling two checks through the device at once, resulting in double images or front-and-back discrepancies.
"The JetScan iFX utilizes a feeding mechanism that has been time-tested and proven in high-speed currency processing. Piggybacking and other misfeed problems are rare," says Klein, "but even if they do occur, the machine stops and its touchscreen display guides the operator through a quick and easy process. All prior checks imaged are retained in the system and do not have be re-run. The issue is caught and rectified right at the point of capture."
The deposit record can also be imaged and processed together with the checks and currency with the unique multi-document processing capabilities of the JetScan iFX i100. Deposit integrity is maintained by verifying documents against the deposit slip, transmitting IQA-compliant balanced deposit records to the host imaging system.
What's more, currency can also be processed at 1,600 notes per minute on the same JetScan iFX i100. This revolutionary two-in-one platform leads to significant operational efficiencies and reduced costs.
"Using only one machine to process checks and currency brings dramatic savings in equipment and processing time," says Cummins-Allison President Doug Mennie. "Combine that with the speed, image quality, RDC capabilities and other features inherent in the JetScan iFX and you have a system truly designed as a game-changing process improvement."
About Cummins-Allison
Cummins-Allison is a global leader in developing technologies which count, sort and authenticate currency. The U.S.-based company has a 100-year heritage of leadership in technology and product innovation and currently serves the majority of financial institutions worldwide, as well as leading organizations in retail, casinos, law enforcement and government. The company holds more than 350 U.S. patents and has ongoing research and development (R&D) investments double the industry average. Cummins-Allison is headquartered near Chicago, IL with R&D centers near San Diego, CA and Philadelphia, PA and wholly owned subsidiaries in Canada, the United Kingdom, Ireland, Germany and France. The company also has an extensive sales and service network with more than 50 offices in North America and is represented in over 70 countries.MT. PROSPECT, Ill., Sep 13, 2011 (BUSINESS WIRE) - Cummins-Allison, the leading innovator and provider of currency and coin handling solutions, announces an industry first - check image capture using the same device that also processes currency. The JetScan iFX(TM) i100 is a revolutionary two-in-one device that brings significant efficiencies to businesses that process both checks and currency.