ROTHSCHILD, WI April 1, 2004 -โ€" River Valley State Bank, a $350 million-asset community bank with headquarters in this Wausau suburb and nine locations in central and northern Wisconsin, has replaced a competitor's manual check production system that had been in use for three years with a MICRPro 800 automated in-house check production solution from the Financial Documents Division of ACOM Solutions, Inc., it was announced today by River Valley State Bank Executive Vice President Jay Wittman and Mark Firmin, vice president and general manager of the ACOM division.
Installed in early February, the ACOM solution was selected for its ability to fulfill as many as 50 check orders per hour. According to Teller Supervisor Cindi Jaeger, who is in charge of the system, River Valley State Bank selected the new system because of the advantages a automated system can provide over the manual one. The new system currently is producing between 660 and 700 new orders and reorders per month. Jaeger expects this number to grow.
The MICRPro automated solution is a fully integrated hardware-software system comprised of a powerful personal computer with a 17-inch monitor, interactive check design and printing software, MICR-enhanced laser printer, and an automated finishing system for trimming, stapling and taping the printed checks. ACOM also provides check printing supplies such as blank security check stock in various styles and MICR toner. The company also sells lower cost in-house check production solutions with semi-automated and manual finishing processes.
The automated system allows River Valley State Bank to charge customers significantly less for check orders than outsource check printers charge. Currently, the bank produces both single and duplicate checks for personal and business accounts, with delivery in one or two days versus a week or more from third party check vendors. It can even produce an order on-the-spot in case of a customer emergency. The bank also began printing its own loan coupons using the system in March.
โ€œBesides providing checks at an extremely favorable price, the service also represents an additional source of non-interest revenue, although that is a secondary consideration,โ€ Jaeger said. โ€œWe are a family-owned community bank committed to providing the best in customer service. That is our primary objective in offering in-house checks. The low cost, quality, convenient reordering, and fast turnaround have proven to be very popular and most of our customers opt for our in-house checks.โ€
The MICRPro system will enable the bank to keep pace with continuing growth in its customer base and the corresponding checkbook requirements, Jaeger added. With the manual system, checks were typically generated in batches, with one person printing the check books and another performing the cutting and binding operation. Now, she pointed out, once the checks are printed and placed on the input tray of the automated finishing device, the rest of the operation is fully automatic.
About ACOM Solutions
ACOM Solutions Financial Documents Division is the premier developer and marketer of check and financial document production solutions that enable financial institutions to streamline their front office and back office check and financial document production activities, and to create and fulfill customer check orders and reorders in-house, versus outsourcing to commercial check vendors. ACOM Solutions, Inc. is a multidivisional, international developer and marketer of conventional and e-business solutions that integrate with enterprise applications to enhance back office and B2B processes for electronic, Internet and paper-based commerce. For more information, contact ACOM Solutions Financial Documents Division at 3305 Breckinridge Blvd, Suite 130, Duluth, GA 30096; telephone 770-279-8955; email micrproinfo@acom.com; web: www.inhousechecks.com.
CONTACT:
Victor Wortman
310 393 6281
vwortman@earthlink.net
Maribell Buchanan
770 279 8955
mbuchanan@acom.com
Gregory Church
562 424 7899
gchurch@acom.com