Mid-State Bank & Trust has licensed the CheckQuest check imaging and CaptureQuest document management solutions from Mitek Systems, a Poway, Calif.-based software company.
The combination of CheckQuest and CaptureQuest will allow the Arroyo Grande, Calif.-based bank to electronically capture and process information from checks and other items, plus image, archive, retrieve and route its other financial documents. Mid-State Bank & Trust plans to process an average of 200,000 items per day, with a peak volume of approximately 350,000 items per day, using multiple high-speed document transports from Unisys.
The combined CheckQuest and CaptureQuest system enables customers to receive check image statements via e-mail and to access account information through the system's Web-based research module. Customers will be able to research account information from home. The bank's staff can also research account information very quickly over the phone or at any of the bank's 39 branches.
The Mitek system was configured as an enterprise license so that as Mid-State Bank & Trust continues to grow, it will be able to provide the same level of service to all of its branches in California and any new branches that are opened in the future.
"The implementation of CheckQuest and CaptureQuest is of great value to our customers," according to Brantley Pettigrew, senior vice president and director of information technology at $2 billion Mid-State Bank & Trust. "They will have faster, more convenient methods to access account information."
Researching a check can be done at "light-speed" compared to microfilm, he added. "With the new system, customers will be able to obtain real-time information over the phone, in person at the branch, or they can view their check images on the Internet."
As a result, Mid-State Bank & Trust's management team anticipates a significant improvement in efficiency in the back office as well as a reduction in postage costs.
"The bank has been looking for a system that will allow us to capture both the date and the payee line from a check," said Pettigrew. "The advantage is that it will allow a business customer the added convenience of reviewing one line on a statement to see when the check was written, to whom it was made out and when it cleared. During our evaluation, Mitek demonstrated CheckQuest's ability to do this."
Mid-State chose Mitek's solution based on such leading-edge features as credence-assisted balancing, high read rates and browser-based research.
Mitek's customer support operation and systems integration capabilities were also evaluated prior to the licensing of CheckQuest and CaptureQuest. Mid-State Bank & Trust found that Mitek has an excellent relationship with customers, seeking to become long-term partners in their success.
CaptureQuest will be a key component in the bank's compliance with the USA PATRIOT Act, said Pettigrew. "It will allow us to image and archive documents that are used to verify the identity of customers and potential customers."
Designed to improve balancing efficiency and overall processing workflow, CheckQuest offers Mid-State Bank & Trust and other institutions an affordable, high-performance check imaging solution, featuring check reading, forms processing and document identification. The system can process any number of bank documents without reading a MICR line or redesigning forms, both of which are often required with traditional proof of deposit systems.
CaptureQuest, a document management system, features a new generation of product modules allowing banks to file, distribute, archive, retrieve and automatically process documents. Scalable and adaptable to fit small or large organizations, it provides financial institutions with a single centralized system for handling all documents.