Jack Henry & Associates, Inc. (JKHY), based in Monette, Missouri, is a provider of an array of products and services that allow financial institutions and corporate entities to process transactions, automate business processes, and manage mission-critical information. The company, founded in 1976, originally provided core information processing solutions for community banks. The company’s products and services are delivered through three business units: Jack Henry Banking, Symitar, and ProfitStars.
Jack Henry recently announced that its ProfitStars division has enhanced RemitPlus, its enterprise payment system that automates electronic check deposits, with the Key-Pay Convene data completion solution provided by Orbograph Ltd. Orbography, a subsidiary of Orbotech is a developer of recognition solutions for the U.S. check processing and business process outsourcing markets. RemitPlus is an automated remittance processing and electronic deposition solution. The system enables businesses to scan and capture images of checks and payment vouchers, stubs, or coupons.
Paper checks, under the RemitPlus system, are converted into electronic transactions that are processed via ACH or though the Check 21 image exchange network. Key-Pay Convene automatically routes unreadable data to offsite, certified personnel for keying, and receives and processes only the data components or “snippets” that are not read automatically. According to David Foss, general manager of ProfitStars, Key-Pay enhances RemitPlus with a new level of speed, accuracy, and efficiency for the document scanning process, thus providing a more streamlined payment processing solution.
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