Software provides flexible transaction sorting.

Press Release Summary:



Routing and Transit with Check Truncation Enhancement, for Image Export Module (IEM) on System 150 and MPE 7.5, allows transactions to be sorted based upon any combination of routing and transit bank number, including check account number. It sorts truncatable transactions and non-truncatable transactions into separate pockets. Software supports up to 8 different check classifications, which are then sorted into different batches and groups based on check type.



Original Press Release:


OPEX Introduces Routing and Transit (R&T) with Check Truncation Enhancements for the IEM (Image Export Module)


Automatic ID-Moorestown, NJ-August 23, 2002-OPEX Corporation (http://www.OPEX.com), a major manufacturer of incoming and outgoing mailing equipment, today announced the Routing and Transit (R&T) with Check Truncation Enhancement for the IEM (Image Export Module). Recently introduced at the 2002 TAWPI Show in Chicago, this new software is an optional feature that allows transactions to be sorted based upon any combination of the routing and transit bank number, including check account number. Integrated with the System 150 or MPE 7.5 with IEM, the combination becomes a truly one-pass system that has the flexibility to separate truncatable payments from non truncatable, which helps to maintain security and transaction integrity. This innovative technology allows certain types of transactions to be sorted into separate batches to that they can be processed immediately and appropriately.

The versatility of the IEM with check truncation capabilities increase the efficiency of payment systems for immediate electronic check presentment. The sort capabilities are extremely flexible,with a variety of options that include both simple or very complicated sort schemes. The software is adaptable to specific sorting needs--Complex sort arrangements are easily accomplished. For simpler processing requirements, the enhancement software can place all checks from a specified bank into a separate batch. Complicated sort schemes can include sortation by bank name and account numbers, providing a host of options for the user.

According to Mark Stevens, OPEX Corporation's President, "The IEM with Check Truncation Enhancement is a responsive approach to the changing needs of the mailing industry. Based upon our success with image capture, this new software presents an exclusive opportunity for OPEX to implement technology that is directly related to proposed requirements by the Check Truncation Act."

Outstanding highlights of the enhancement software include the ability to sort truncatable transactions and non-truncatable transactions into separate pockets and perform accurate read rates. This exclusive software supports up to eight different check classifications, which are then sorted into different batches and groups based on check type. The special check feature allows banks to take advantage of early deposit incentives and identify high priority checks. To ensure the most accurate read rates, the MICR line is read by both magnetic and optical readers.

In addition to the IEM with Check Truncation Enhancement, OPEX Corporation develops, sells and services a complete product line of mailing equipment designed for both high and low volume, incoming and outgoing capabilities. The company offers a full range of mail opening, extraction and sorting machines--all of which deliver high-speed and efficient mail processing solutions. OPEX's Omation division offers a diverse line of envelopeners and compact letter openers for both office and mailroom applications. OPEX sets the highest performance standards for its products and is dedicated to achieving excellence through revolutionary technology and superior customer service. OPEX Corporation's headquarters are located in Moorestown, NJ with European locations in both Paris, France and Manchester, England.

OPEX's new Check Truncation Enhancement software is an option available for use with the System 150 or MPE 7.5 (high-speed extraction units) equipped with IEM. For more information on this new software, contact OPEX Corporation, 305 Commerce Drive, Moorestown, NJ 08057-4234; TEL: 856/727-1100 FAX: 856/727-1955; Website: www.OPEX.com.

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