Unisys Corporation today announced that The Standard Bank of South Africa Limited, one of South Africa`s largest banks, signed a $7.5 million contract for the Unisys e-@ction Payment Solutions portfolio, which includes item and image capture, archiving and data consolidation applications. Unisys payment solutions will enable the bank to enhance its cheque-processing operations to reduce opportunities for fraud while increasing responsiveness to customers.
Standard Bank, with headquarters in Johannesburg and total assets of $38 billion, processes checques in 16 Day 1 sites and three Day 2 sites. To accelerate the processing, Unisys e-@ction Payment Solutions will deliver high-speed, image-capture and bulk filing capabilities. The solution will also include consolidatation of information captured on Day 1 from non-Unisys platforms and on Day 2 from the Unisys Cheque Processing solution, VisualImpact, to feed the Unisys Payment Information Archive. The central archive then provides complete audit information related to a transaction regardless of the capture system, eliminating redundant archive systems. The information is stored automatically in the archive storage and retrieval facility, enabling the bank to streamline a number of processes - such as check sorting for exception handling, bulkfile statement cycle storage, and the preparation of monthly statements.
In addition, the scalable Unisys system will enable Standard Bank to develop strategies to address the critical business issue of fraud by detecting forgery through imaging techniques, including signature verification and audit. The Unisys Payment Information Archive will allow the bank to provide Internet access to their customers and employees as well CD-ROM products and image statements.
Unisys also will provide four NDP 1825 and four NDP 1150 high-speed reader/sorters and six NDP250 medium-speed power encoders, along with Aquanta Intel-based servers and image workstations.
"We evaluated in-depth product offerings from various suppliers, and the Unisys product set came closest to suiting our business needs," said Michael Backwell, director, operational services at Standard Bank. "We are extremely pleased that a minimum amount of customization is required to enable us to implement the new system, which we believe will help us detect and reduce fraud, position the bank for future moves toward check truncation, and enable us to provide additional value-add services."
Standard Bank will implement the Unisys e-@ction Payment Solutions at its Johannesburg, Durban and Cape Town offices, and expects the system to be fully installed and operational by the end of 2000.
For more information about Standard Bank, visit their website at http://www.sbic.co.za/
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Unisys
Unisys is an electronic business solutions company whose 36,000 employees help customers in 100 countries apply information technology to seize opportunities and overcome challenges of the Internet economy. Unisys people integrate and deliver the solutions, services, platforms and network infrastructure required by business and government to transform their organizations for success in this new era. The company offers a rich portfolio of Unisys e-@ction Solutions for electronic business based on its expertise in "repeatable" vertical industry solutions, network services, outsourcing, systems integration and multivendor support, coupled with enterprise-class server and related technologies. The primary vertical markets Unisys serves worldwide include financial services, transportation, communications, publishing and commercial sectors, as well as the public sector, including federal government customers. Unisys is headquartered in Blue Bell, Pennsylvania, in the Greater Philadelphia area.
For more information on the company, access the Unisys home page on the World Wide Web at www.unisys.com. Investor information can be found at www.unisys.com/investor.
Unisys is a registered trademark and e-@ction is a trademark of Unisys Corporation. All other brands and products referenced herein are acknowledged to be trademarks or registered trademarks of their respective holders.