Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Loomis Armored US doubled its item processing volume in 2012 to an average of more than 7 million items a month. Loomis is the international leader in the cash handling services industry and implemented Branch Source Capture™ from Fiserv in 2007 to build its high-volume item imaging business, which automates processing in an outsourced vault environment for retailers and financial institutions.
Loomis uses Branch Source Capture from Fiserv, a Web-based solution that facilitates remote capture, item correction, batch and deposit balancing, and image quality control. Loomis serves some of the nation’s largest banks, which often require highly customized information for their corporate and government customers. Fiserv customizes the output needed by Loomis’ bank cash vault clients – scanning, correcting and balancing check deposits to the exact specifications requested.
“Using Fiserv technology, the number of items processed by Loomis has grown more than ten-fold since 2007,” said Chuck O’Brien, Chief Operating Officer, Loomis Armored US. “More banks are choosing to have their retail customers deposit both cash and checks at a cash vault, and Fiserv helped us tap into this trend.”
Branch Source Capture is a scalable solution, enabling financial institutions and large cash vaults like Loomis to reduce processing time, automatically detect duplicate deposits and review daily capture operations. A full range of Source Capture Solutions ® are available from Fiserv to enable check image capture, including deposits captured at the branch or ATM, or those received from a customer’s business, home or smartphone. Fiserv has an impressive remote deposit market share, which includes more than 1.2 million end-users.“To accommodate its 106 nationwide operating locations, Loomis required a world-class item imaging solution and Fiserv delivered with Branch Source Capture,” said Gary Brand, director, Source Capture Solutions, Fiserv. “This highly scalable solution is not only a perfect fit for the expansive needs of an organization like Loomis, but also meets the needs of the more than 3,600 financial institutions that look to Fiserv to streamline deposits using remote deposit capture.”