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2011 Innovative Soutions Award Winners

 

The Innovative Solutions Awards, now in their fourth year, are recognized as the most prestigious awards for companies working to help community banks improve their operations, be more competitive, enhance their technical capabilities and increase their profitability. This year’s awards, sponsored by BankNews, had 38 entrants in four categories. Congratulations to the 2011 winners!

EQUIPMENT SOLUTION

Cummins-Allison Corp.
JetScan iFX i100
Mount Prospect, Ill. | cumminsallison.com

The Cummins-Allison JetScan iFX i100 scans currency, checks and deposit slips at the teller line. Currency totals and check images are recorded instantly and sent straight to the network via software, making true branch capture a reality. Check images and data can also be integrated into remote deposit capture systems, providing real-time posting and clearing of checks from commercial customer locations.

Setting new standards for speed and accuracy, the JetScan iFX i100 processes currency at an industry-leading speed of 1,600 notes per minute while capturing two-sided check images at 400 documents per minute — more than twice the speed of any other desktop check scanning device, according to the company.

“One of the factors preventing financial institutions from implementing branch capture is the slow speed of existing check scanning equipment,” said Rob Klein, director of enterprise solution design and integration at Cummins-Allison, “but JetScan iFX i100 removes this barrier. The most efficient form of branch capture can now be done quickly and easily.”

Dramatically improving balancing efficiency for deposits and cash drawer reconciliations, and making quick work of ATM and night-drop deposit processing, the i100 series allows unmatched productivity with quicker, more accurate deposit processing and the lowest note rejection rate in the industry, plus a feed mechanism that greatly reduces jams for maximum uptime.

HONORABLE MENTIONS
Security Systems Equipment | 2010 ADA Standards for Accessible Design
QuorumLabs | onQ Site Recovery Appliance

CONSULTING/OUTSOURCING/TRAINING SOLUTION

Safe Systems Inc.
Continuum, Disaster Recovery for Banks
Alpharetta, Ga. | safesystems.com

Again this year, Continuum, a disaster recovery system, has been recognized as one of the industry’s best solutions for banks. New to Continuum in 2011 is a Local Recovery option to allow for quicker and simpler recovery of individual failed servers to hardware residing within the bank’s network.

The new version of Continuum also features a Data Vaulting option for file-level backups; plus, it restores in the cloud (i.e., Continuum now provides both a backup solution and a DR solution in one).

Other benefits include the reduction in recovery time of bank operations from days to hours; reduction of costs, as compared to traditional disaster recovery solutions; and savings in time and resources by not managing a disaster recovery data center.

Moreover, Continuum was developed exclusively for community banks with built-in compliance features, such as a Compliance Director to assist each Continuum client with passing its IT audits and exams.

HONORABLE MENTIONS
InfoSight Inc. | InfoSight-U
Network Box USA | Z-Scan

MANAGEMENT SOFTWARE SOLUTION

DCI (Data Center Inc.)
iCore360°
Hutchinson, Kan. | datacenterinc.com

iCore360° is a core-processing and bank management software program built entirely on the most advanced ASP.NET Web-enabled architecture and relational database technology, supported by an award-winning virtualized, cloud-based infrastructure. iCore360° runs on a standard PC/Mac and Internet browser that dramatically lowers upfront and total cost of ownership, without the need for specialized equipment and complicated software to install/maintain. It is also available in‐house.

iCore360° integrates the entire bank around a single relational source of intelligence and workflow automation that increases speed and efficiencies, and reduces staffing requirements by automating tasks and eliminating redundancies. Advanced development tools provide quicker, easier enhancements without significant costs or waiting. On-demand data analysis and reporting provide better, faster decisions to maximize performance.

Embedded core features include advanced loan and GL flexibilities, and options for image capture, ATM/card banking, Internet/mobile banking, paperless workflow, rewards program, CRM, fraud protection, compliance and more.
iCore360° provides bullet-proof, hacker-proof security with flexible set-up; multi-layer authentication security by group/user/screen; and detailed, multi-level auditing.

HONORABLE MENTIONS
Hyland Software Inc. | OnBase
Passageways | CommunitiTree

eBANKING SOLUTION

Harland Financial Solutions
DPXPay
Lake Mary, Fla. | harlandfinancialsolutions.com

DPXPay allows financial institutions to offer convenient, secure online and mobile payments, enabling customers to send or receive payments (P2P) by e-mail or text message. Offered within online and mobile banking, DPXPay provides an opportunity for financial institutions to take part in the growing trend of electronic P2P payments, while providing customers with an ongoing service they will use again and again.

This service creates a new opportunity to drive non-customer traffic to the financial institution’s website for targeted marketing campaigns for new customer acquisition. Financial institutions capture new transactions and generate new revenue income, while giving customers convenience and flexibility. Implementation is fast, and adoption by customers will be quick, generating immediate results.

DPXPay gives financial institutions the ability to offer a lower-cost alternative to wire transfers and check by mail, saving both the institution and the consumer time and money. It also encourages consumers to go green and support the paperless money transfer revolution; and eliminates the need to share account information between payment sender and receiver.

Perhaps most important, DPXPay provides a new fee-based revenue source for financial institutions.

HONORABLE MENTIONS
ProfitStars | Remote Deposit Capture (RDC) Services
iPay Technologies | TheWayiPay

Copyright (c) November 2011 by BankNews Media.


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