"Wachovia’s corporate customers have been benefiting from this high-tech image technology since 1994," said Frank D. Robb, manager of Information Services for Wachovia. "Receiving a patent indicates the U.S. Patent and Trademark Office’s recognition of the innovative use of the technology Wachovia has developed for customers."
Several banks now offer imaging products, but, according to the patent, the Wachovia processing system is unique. Wachovia’s Image Workstation system allows corporate customers to search and retrieve an image based on additional payment data supplied by the customer in addition to data captured from the cleared check.
"Our corporate customers provide us with information that is key to their operations, such as their customer account or policy numbers. That data is used to integrate our database and their systems," said David T. Bellinger, a Wachovia vice president and one of the inventors. "For example, an insurance company, which may issue millions of checks a year, can use a policy number to retrieve an image of a check it needs to review. It no longer is necessary to sort through a variety of statements, checks or check images. The Wachovia technology saves time and money and improves customer service."
This recently-patented image technology forms the foundation for other processes being developed by Wachovia that also may be submitted for patenting.
Wachovia Corporation, parent to Wachovia Bank, N.A., is the nation’s 16th largest bank holding company with assets of $65.3 billion as of March 31, 1999.
Wachovia and Wachovia Connection are registered service marks of Wachovia Corporation.
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