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Wednesday, January 20, 2010
(Panini)
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This week Panini, the market leader in distributed check capture, will be presenting Check Truncation Perspective at Banknet’s Sixth Annual Conference on Payments in Mumbai, India. The presentation, to be delivered Friday, January 22 by Michael Pratt, Panini’s Chief Marketing Officer, will cover the various check truncation (CT) applications, CT legislative status in key global markets, and India’s current CT status.
“Check truncation has become a very important payments initiative in India, and Panini has played an instrumental role in its early development,” says Michael Pratt, Chief Marketing Officer, Panini. “This presentation will allow us to share with the audience our experience and expertise with check truncation initiatives in India and throughout the world.”
The Check Truncation System (CTS) was implemented in India’s National Capital Region in February 2008 to improve the efficiency of check clearing. 11 of 20 government banks, including the two largest – representing over 25% of all bank branches in India – were equipped with Panini check scanners, and Panini scanners now account for 70% of deployments in India’s distributed capture market. CTS will be implemented next in the Chennai Region with national implementation planned once the test phase is completed.
Conference attendees can also visit booth n.9 at the Banknet Conference where Panini will showcase their market-leading Vision X® family of check scanners and the newly released Panini I:Deal™. The Panini Vision X leads the distributed capture market with over 400,000 scanners deployed worldwide. The check scanner’s scalability provides users with unparalleled investment protection; the scanner configuration and features can be changed as their deposit needs change without replacing the hardware. The Panini I:Deal, designed specifically for low volume distributed capture, quickly became the industry’s scanner of choice for small business remote deposit capture (RDC) as Panini tripled the product’s initial sales forecast in its first two months on the market.
“Check truncation has the potential to change the entire payments landscape in India providing banks and their customers with significant operational savings and efficiencies,” adds Nicola Aliperti, CEO, Panini. “As the global market leader in this payments segment, we’re fully committed to the success of this initiative in India.”
To schedule an appointment with Mr. Pratt or a Panini sales representative during the Banknet Conference, please email Daniela Bertalot at daniela.bertalot@panini.com .
About Panini
Founded in Turin, Italy, Panini has enabled clients to capitalize on shifts in the global payments processing market for more than sixty years. Panini has a rich history of technology innovation, leveraging the company’s expertise in research & development. Panini’s market leading solutions are based on state-of-the-art engineering resources and ISO-9000 quality certified production. Panini North America, a wholly owned subsidiary, offers check capture solutions that enable customers to fully realize the advantages and efficiencies available with the digital transformation of the paper check. Panini’s scalable check capture solutions address the complete range of distributed check processing opportunities including teller capture, back-counter capture, corporate capture, merchant back office conversion (BOC), cash vault, microfilm replacement and remittance processing. For more information please visit www.panini.com.
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