1. Royal Bank pact a big coup for Big Blue
- Author
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Marjanovic, Steven
- Subjects
Royal Bank of Canada -- Contracts -- 00152757 ,International Business Machines Corp. -- Contracts -- 00304653 ,Banking industry -- Contracts ,Computer software industry -- Contracts ,Checks ,Imaging systems -- Usage ,Banking, finance and accounting industries ,Business ,Economics ,IBM ImagePlus High-Performance Transaction System (Image processor) -- Contracts - Abstract
The Royal Bank of Canada has signed a $44 million contract with IBM to change the bank's check processing system to an image-based process, using IBM's ImagePlus High Performance Transaction System. The system will first be applied to proof-of-deposit, which accounts for 40% of the $2 billion a year banks spend on check processing. IBM has a dominant share of the market for imaging systems used for check processing., Royal Bank of Canada has announced plans to convert its entire check processing operations to an image-based platform from International Business Machines Corp. The $129 billion-asset bank, based in Montreal, [...]
- Published
- 1995