IVI Checkmate recently received an order of more than $1 million from SunTrust Bank for the e N-Check 430, the industry's leading check reader. Like many banks in the U.S. and Latin America, SunTrust selected the e N-Check 430 as a tool to eliminate check fraud, to eliminate the need for tellers to key large amounts of data on check transactions, and to speed customer service.
The check continues to be the most popular form of non-cash payment. Projections are that annual check transactions will grow from approximately 65 billion to more than 76 billion by the middle of the next decade. As a result, financial institutions and the financial services industry are moving towards automated check services to streamline check processing and reduce cost.
President and CEO of IVI Checkmate's U.S. Operations, Greg Lewis, states, "Our e N-Check 430 is a tremendous tool for SunTrust to use to increase customer throughput and eliminate fraud at the teller window. The e N-Check 430's track record in reliability, read accuracy and endurance was the basis for the selection by SunTrust."
SunTrust will be installing the e N-Check 430's at each teller lane in more than 650 branches throughout Georgia, Florida, Alabama and Tennessee. IVI Checkmate is the third largest electronic payment solutions provider in North America. For more information on IVI, contact Jamie Bethea, V.P. Transaction Processing at (972)445-4135.
