Standard Register and Metavante Team To Serve Financial Institutions
Press release from the issuing company
DAYTON, Ohio (May 16, 2003) – Standard Register today announced an alliance with Metavante that will provide financial institutions a secure and cost-effective end-to-end print automation solution. This solution provides branch document automation including checks, signature cards and other document printing, resulting in a boost to institutions' profitability and customer satisfaction.
According to Jamie Geschke, senior vice president and general manager, Metavante Financial Technology Services, “ This turnkey print automation solution improves our clients' branch efficiency and printing accuracy, which translates into increased throughput and improved service for their customers. It also affords them the opportunity to maximize every customer contact.”
By integrating Standard Register's state-of-the-art MICR (Magnetic Ink Character Recognition) print automation solution into the Metavante branch products, TellerInsight and BankerInsight, financial institutions realize a variety of benefits. These results can improve overall operating efficiencies. Additionally, the solution may help to reduce check fraud.
According to a 2002 Association of Certified Fraud Examiners Report: “Occupational Fraud and Abuse,” found on their association Web site http://www.cfenet.com, fraud increased 50 percent since 1996, from $400 billion to $600 billion. The report notes that check fraud accounts for about $180 billion (30 percent) of this. Internal and external fraud may be reduced through the use of integrated hardware and software capabilities, such as encryption, password protection, secure number fonts and reprint control and controlled number sequences.
Peter Dorsman, Standard Register executive vice president and chief operating officer, noted, “Standard Register solutions help companies transform how they operate by leveraging information technology. Our alliance with Metavante provides financial institutions with ways to optimize efficiency and performance while greatly improving security.”
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