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Frost Bank Selects Carreker’s Image Solutions for Improved Back Office Processing
Adjustments Express to automate the back-office research and adjustments process;
All Transactions File for enterprise-wide management of transaction information;
and Web Express/Case Entry for fast, online case input and query
BAI TRANSPAY CONFERENCE & EXPO, ORLANDO, FL - (February 12, 2007) — Carreker Corporation (Nasdaq: CANI), a leading provider of technology and consulting solutions for the financial industry, announced today that Cullen/Frost Bankers, Inc. (Frost) has licensed and is planning to integrate three of Carreker’s Payment Information Management solutions for improving and automating back office processing.
Adjustments/Express™ (AE) is an image-based, workflow automation system that improves the entire back-office research and adjustments process, and can be extended to resolve disputes involving multiple payment types and a number of processing models such as Back-Office Conversion.
All Transactions File™ (ATF) is designed as an open, central warehouse of all check and electronic transaction data and will be leveraged by Frost to include multiple payment types, including the growing volume of checks converted to ACH.
Web Express/Case Entry when integrated with AE delivers an online environment for submitting case requests to the appropriate end-user department for processing and subsequent queries such as case status with supporting documentation. The system can be deployed internally, to increase efficiency, as well as externally to offer Frost’s corporate customers entry/inquiry capabilities, thus improving customer service and speeding case resolution.
“Our current environment is very paper-intensive and includes a number of manual processes. In the long-run we did not want these factors to have an impact on the level of service we provide to our customers,” said Vicki Ball, Senior Vice President, Frost. “Our selection of Carreker’s imaging and Web solutions allows us to dramatically improve productivity and customer service by migrating to an image-enabled environment and automating the entire back-office adjustments process.”
Typical client results from AE include reducing backlog inventory by 50 percent; reducing debit item write-offs by 75 percent; reducing resource requirements for adjustments resolution by 30 percent; and most significantly, perhaps, reducing the average work effort by 90 percent or more.
On Frost’s selection of ATF and Web Express, Ball commented, “ATF provides us with a system that allows us to access any transaction regardless of payment type or where it is in the transaction lifecycle. Web Express not only gives us Web entry and inquiry abilities, but, more importantly, it allows us to empower our customers by extending these capabilities to our Corporate clients.”
Additional benefits include:
- AE allows operators to scan information into the system, automatically retrieve both image and microfilm items, and make accounting entries from all of the main sources of adjustments cases, delivering a virtually paperless, seamless environment and enabling a robust and reliable business resumption process.
- ATF allows operators to access stored data from the bank’s capture and collection processes, provides retrieval and display of item information for an entire transaction life cycle, including pay/no pay decisions, incoming and outgoing views of how an item was received, how it was sent, and how it was rendered for final payment.
- Web Express allows scanned document images to be attached to a case file at the time the case is submitted and enables web-based input of cases, eliminating phone calls, paper and faxes.
The three solutions together form a compelling information management tool: ATF has visibility into all payments activity, while AE can automatically access all needed adjustments information, including data from ATF, and Web Express. This enables real-time case submittals/inquiries, thus improving case resolution time. As a result, the bank can improve productivity, optimize workloads, reduce errors, reduce float and other costs, speed case resolution, and reduce customer response time.
Michael Ringuette, COO, Global Payments Technologies, Carreker, said, “AE, ATF and Web Express will be instrumental in helping Frost continue to provide their customers with the high level of service they have come to expect from the bank. Even as the lines between payment types continue to blur and back office processes become more complex, these three solutions will allow Frost to quickly access all of the information they need for researching and resolving exceptions and adjustments cases across the enterprise, regardless of payment type.”
J.D. (Denny) Carreker, Chairman and CEO, Carreker Corporation, said, “The migration from paper to electronics is intensifying and we’re seeing increased demand from banks of all sizes for our advanced solutions. These solutions are designed to help banks successfully transition to an image-enabled environment. We’re delighted that a long-time client like Frost has selected our AE, ATF, and Web Express solutions to help them improve back office processing and reduce costs.”
Carreker’s solutions operate in both a Windows and Citrix Operating System environment and a DB2 and SQL database environment. Frost is the first Carreker client to operate in SQL and Citrix Environments.
About Cullen/Frost Bankers Inc.
Cullen/Frost Bankers, Inc. is a financial holding company, headquartered in San Antonio, with assets of $13.2 billion at December 31, 2006. The corporation provides a full range of commercial and consumer banking products, investment and brokerage services, insurance products and investment banking services. Its subsidiary, Frost Bank, now operates more than 100 financial centers across Texas in the Austin, Corpus Christi, Dallas, Fort Worth, Houston, Rio Grande Valley and San Antonio regions. Founded in 1868, Frost is one of the largest banks headquartered in Texas, with a legacy of helping Texans with their financial needs during three centuries.
About Carreker Corporation
Carreker Corporation improves earnings for financial institutions around the world. The Company’s integrated consulting and software solutions are designed to increase clients’ revenues and reduce their expenses, while improving security and increasing the value of their customer relationships. Carreker provides products and services to more than 250 clients in the United States, Canada, the United Kingdom, Ireland, continental Europe, Australia, New Zealand, South Africa, South America, Mexico, and the Caribbean. Clients include the full range of community, regional and large banks, among them more than 75 of the largest 100 banks in the United States. Headquartered in Dallas, Texas since 1978, Carreker Corporation has offices in London and Sydney. For more information, visit, visit www.carreker.com. |
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