| Send2Press.com • Today is Monday, February 13, 2012 | A Member of the Neotrope News Network |  |
|
|
NEWS ARCHIVES : U.S. and World News :
Banking and Finance
News
|
Press Release:
Exception Day 1 Processing to become a reality by CONIX Systems, Inc. and Data Support Systems (DSS)
MANCHESTER, Vt., June 17 (SEND2PRESS NEWSWIRE) -- CONIX Systems, Inc. (CONIX), a leading international provider of payment processing solutions to the financial services industry and pioneer in the acceleration of exception processing and Data Support Systems (DSS), a leading provider of image-based back office payment processing solutions, have formed a partnership to accelerate exception processing across the banking industry. Under this partnership, DSS and CONIX will deliver a comprehensive end-to-end Day 1 exception solution by seamlessly integrating CONIX's Xcept and Dupe Detective products with the DSS TRIPS Suite for image-based back office transactions. The integrated solution will provide a common decision engine for all exceptions. "Exception processing is the elephant in the room as banking institutions evaluate their systemic risk," said Frank Stokes, president of technology, CONIX Systems. "A CONIX - DSS joint problem-solving partnership for exception processing is a natural fit. We possess complementary skills to co-develop an integrated solution." The combined impact of image exchange, remote deposit capture, and the emergence of new electronic payment channels has increased exception volumes and exception types. Additionally, this has created new issues that are costly to resolve, threaten customer loyalty, and carry long-term risk for financial institutions. When exception items are identified and returned in a Day 1 timeframe, their impact on the institution is contained and transparent to account holders. "Accelerating exceptions processing to Day 1 should be a priority, not just for banks but for the financial industry at large," said Carl Bortol, president and founder of DSS. "The TRIPS Suite leads the industry in processing exception and return items as early as customers' infrastructures allow. Extending our integration with CONIX Systems' Xcept and Dupe Detective products will enable banks to shift more of their typical payment processing exception functions from Day 2 to Day 1, including exceptions related to fraud, error, and duplication." Electronic payments have substantially shortened return times, making Day 1 detection even more important to prevent and stem losses from fraud. Migrating exceptions and returns to a Day 1 timeframe will provide a more expedited collection and recovery process that will mitigate financial institutions' risk and exposure. CONIX Systems and DSS have a tradition of collaboration dating to the development of CONIX's Dupe Detective, a system that protects both financial institutions and customer accounts from double postings of payments. Dupe Detective is already in place in such prominent financial institutions as BB&T Corporation and Bank of the West. About CONIX Systems: CONIX Systems, Inc. (www.conix.com) is a world leader in providing payment processing software and related services to the financial services industry. The company's products perform key processing tasks for an estimated 100 billion paper and electronic items each year and handle virtually every aspect of payment processing - including work flow management, exception processing, early fraud detection, and image exchange. CONIX software and services are used by approximately 90 percent of the largest banks in the country. About Data Support Systems, Inc.: Data Support Systems (www.datasupport.com) currently counts 26 of the top 30 US bank holding companies as their customers. DSS develops, sells, and supports the industry-leading TRIPS Suite, which is a fully integrated, image-based solution for back office transaction processing. DSS products include solutions for exceptions, incoming and outgoing returns, notification, image exchange, research and adjustments, collections, archive, and web delivery/decisioning. DSS is a privately held corporation headquartered in Omaha, Nebraska. Media Contact: Kerri S. Milam, of DepthPR for CONIX, 404.378.0850.
NEWS SOURCE: CONIX Systems, Inc.
Send2Press® is the originating wire service for this story. Terms of Use. © CONIX Systems, Inc.. All trademarks acknowledged.
THE CONTENT OF THE ABOVE PRESS RELEASE WAS PROVIDED BY THE NEWS SOURCE (CONIX Systems, Inc.), WHO IS SOLELY RESPONSIBLE FOR ITS ACCURACY. FOR QUESTIONS ABOUT THIS STORY CONTACT THE NEWS SOURCE AND NOT THIS WEBSITE.
Journalist Resources:
Download original press release as issued including media contact information for CONIX Systems, Inc..
Additional News Releases on Similar Topics:
|
Subscribe to Send2Press®
Daily News Releases by E-Mail
Follow Send2Press on Social Sites: 
Additional News from
CONIX Systems, Inc. : » Trustmark National Bank Goes Into Production with CONIX Systems' Dupe Detective » Trustmark National Bank Selects CONIX Systems' Dupe Detective
|
||||||||||||||||||||||||||
View our news channels by industry topics, by U.S. States, or by selected U.S. Cities:
|
Terms of Use and License
This "article format" version of the issued press release is Copr. © 1983-2012 Neotrope/Send2Press. You may freely link to this article version of the press release or may use the release text as the basis for an original article or news posting. If the content is copied verbatim via a scraping or copy/paste method, the news item must be properly "attributed" to Send2Press® Newswire as the originating wire service for this story (may not be posted on ANY site selling/offering SEO or PR services, newswire services, or adult content!). |
DISCLAIMER: the above press release content is believed accurate but not guaranteed, and is based on business news supplied by the source. The noted source is solely responsible for its accuracy. Financial/Stock news may contain forward looking statements. Neotrope/Send2Press (this website) makes no claims of accuracy or suitability for any purpose. Any opinions expressed by representatives of company(s) mentioned in news and profiles are solely those of the person indicated, and do not reflect any opinion or policy of Neotrope® or Send2Press. Your use of any information contained herein is done solely at your own risk, and you are fully responsible for using any information herein, or on sites mentioned or linked to in the article. All trademarks acknowledged.
REFERENCES: Exception Day 1 Processing to become a reality by CONIX Systems, Inc. and Data Support Systems (DSS), CONIX Systems Inc, Data Support Systems Inc, Xcept and Dupe Detective products with the DSS TRIPS Suite for image-based back office transactions, payment processing solutions to the financial services industry and pioneer in the acceleration of exception processing, Frank Stokes, Carl Bortol, TRIPS Suite, press release, Jun 17, 2010. |
|
THIS PAGE MEDIA READS (by media and public, as of today): 2258 times (1 today, 1 this week, 13 this month, 41 this year)
Site Design and Content is Copr. © 1983 - 2011 Neotrope® - All rights reserved. Send2Press® is a reg. trademark and service mark of NEOTROPE.
Press Release Writing | About Send2Press | Meet Our Staff | Contact Us | Our Services | Help Desk | Legal | Privacy | How-To Articles | RSS Feeds | Journalist Tools | Client eMediaKits | Headline Feeds | Podcast | PR News Channels | Daily News Desk | Success Stories | PRTRax™ Reader Tracking | Targeted News Distribution | Internet Marketing Services | Order PR Services | Terms of Service (TOS)