Checks management into the Italian banking market

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Selesist 64 pockets

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Selesist 16 pockets

Key points

  • First to introduce on the Italian and European market the sorters up to 80 pockets
  • Market leader in Italy
  • Check Back Office process optimization: from sorting to deposit at the issuing bank
  • Better reputation with issuing banks through compliance with the cut offs agreed
  • Small product dimensions compared to competitors

Challenge

During the 1980s the banking market was characterized by:

  • a strong fragmentation and localization of the system (composed of small / medium-sized local banks)
  • a high volume of payments by checks

These characteristics implied for the banks large Back-Office operations for the management of checks which, in order to be cashed-in, had to be sorted and sent to the issuing bank with stringent cut-off limits.

Furthermore, the technologies present into the markets until then were not able to allow the management of high volumes in extremely short times.

Solution

bancor, through its technological know-how, is the first in the world to introduce on the market a high-speed sorter with a number of boxes clearly higher than the market average (64 and 80 pockets against the maximum 32 boxes of the other sorters present until then into the market).

Thanks to this innovation brought into the market by bancor, Italian and European banks were able to:

  • halve check processing times
  • reduce machining operations by half or a third
  • make the checks management processes more efficient
  • reduce operating costs
  • increase the satisfaction of the issuing banks thanks to compliance with the agreed collection times

Products bancor used