ID Scanner provides fraud control for banks.
Share:
Press Release Summary:
With LS150 IDC, banks can process all transactions - including previously deferred large deposits - at branch for image capture and balancing. By-pass feeder enables all-in-one device to scan ID card, create color image, and read magnetic stripe. On-board 2D barcode reader interprets card data, enabling bank to capture and verify identification of customer. TopImage processing optimizes CAR read rates while minimizing errors and non-conforming images.
Original Press Release:
CTS to Debut ID Capture Solution at BAI Connect
CTS Developed Advanced Branch Capture Solution for Top US Banks
WIXOM, Mich., -- CTS North America, a leading supplier of check and cash solutions for merchant, teller, and branch solutions today announced the release of the LS150 IDC (ID Capture) - a revolutionary scanning solution that combines high performance check capture with color ID capture for improved customer service and fraud control.
The LS150 IDC was developed for leading US bank customers with the largest branch networks in the country. Over a two year period, CTS designed and tested performance enhancements and new features, in CTS laboratories, at bank test sites and later in live branches, to analyze performance data and teller feedback. A number of scanners were subjected to an accelerated life cycle test, simulating over 10 years of usage in a normal branch operation, with only minimal cleaning and no parts or consumables (belts and rollers) replacements. The test concluded with well over 1 million items processed on each scanner and no failures reported.
Based on the test results, CTS obtained orders for large scale teller implementations in 2012. The business case and return of investment for the LS150 IDC deployment is based on:
1. Large Deposit Capture: The speed and throughput of the LS150 IDC enables banks to process all transactions - including previously deferred large deposits - at the branch for image capture and balancing. With lower performance scanners, these deposits are usually sent via courier to regional processing centers at a high cost. Result: Immediate cost savings from transportation and the elimination of a duplicate process with its own locations, staffing, and equipment.
2. ID Capture and Authentication: The unique LS150 IDC by-pass feeder enables the scan of an ID card with the LS150's unique by-pass feeder, create a color image, and read a magnetic stripe -all in a single device with a very small footprint. The CTS on-board 2D barcode reader interprets card data enabling the bank to capture and verify identification of the customer. Result: All-in-one device saves space and avoids clutter, bank reduces fraud losses with positive ID results, and improves customer servicing by speeding up transaction wait time.
3. Better Image Quality: CTS' proprietary TopImage processing demonstrated increased CAR read rates with fewer errors. On difficult documents such as Money Orders, TopImage reduces the number of Non-Conforming Images. Result: Reduced data entry, ability to process larger deposits at the teller station, and fewer image exchange rejects.
4. Lower TCO: The LS150 IDC's unique belt and roller mechanism greatly reduces teller maintenance and service costs. In an accelerated 1million item life test, the bank experienced less paper damage, less dirt build-up, and no replacement of rollers and belts that are designed to last for the scanner life cycle. Additionally, the device's auto-sensing 100 item feeder allows the operator to perform single-handed insertion. The improved feeder and pocket extension were strengthened to handle large deposits. Result: No down-time, reduced consumables expense, no hassles over replacements, and better focus on the teller's customer.
CTS will debut the LS150 IDC at BAI Connect, held March 12-14 at The Mirage in Las Vegas. Conference attendees who visit CTS at booth #401 will receive an interactive demonstration of the LS150 IDC and receive a complimentary white paper entitled "ID Authentication in Banking Applications."
"For our bank clients and for all financial institutions considering image scanning at the teller, the business case for the LS150 IDC almost writes itself. Courier savings, improved efficiency, reduced consumables, fraud loss prevention, and enhanced customer satisfaction all add up to an impressive return on investment," explains Urs Bockli, Executive Vice President and General Manager for CTS North America.
About CTS
CTS is a leading global leader in banking automation with three decades of growth, experience, and innovation. Under the leadership of its founders and owners, the company has grown to over $100m in annual revenue and 300 employees since 1980. With more than 100 engineers dedicated to research and development, CTS' main strength is the fast-cycle design of innovative cash and check solutions for tellers, back offices, self-service systems and retail point-of-sale counters,. Today, CTS has more than 1 million banking peripherals installed at end user locations across five continents. For more information, visit www.ctsna.com or contact CTS North America at (888) 886-0231.
Web Site: www.ctsna.com
