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Royal Bank pact a big coup for Big Blue

Royal Bank pact a big coup for Big Blue

Authors :
Marjanovic, Steven
Source :
American Banker. June 29, 1995, Vol. 160 Issue 124, p14, 1 p.
Publication Year :
1995

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.<br />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, [...]

Details

ISSN :
00027561
Volume :
160
Issue :
124
Database :
Gale General OneFile
Journal :
American Banker
Publication Type :
Periodical
Accession number :
edsgcl.17164980