Published: March 01, 2011
Trustmark National Bank Selects CONIX Systems' Dupe Detective
MANCHESTER, Vt., March 1 (SEND2PRESS NEWSWIRE) -- CONIX Systems, Inc. (CONIX), a leading international provider of payment processing solutions to the financial services industry, has signed Trustmark National Bank (Trustmark) for Dupe Detective™, the payments industry's leading Day 1, multi-channel duplicate payment product. Dupe Detective enables institutions and processors to resolve duplicate payments prior to posting and sending transit work for collection, reducing their research and adjustments caseload while ensuring that account holders are never affected.
Trustmark is a subsidiary of Trustmark Corporation (NASDAQ:TRMK), a diversified financial services company with $9.6 billion in assets that provides banking, wealth management and insurance solutions. With 150 branch locations in Florida, Mississippi, Tennessee and Texas, Trustmark began implementation of its check clearing and remote branch capture processes more than six years ago when Check 21 became effective.
"Early on, Trustmark realized the significant benefits of centralized item capture and processing remote branch capture through image technology," said Harold Winborne, First Vice President, Trustmark National Bank. "Since implementing remote branch capture throughout our four-state operation two years ago, we've eliminated air transportation and, even more significantly, reduced our courier costs."
"The single biggest issue related to image processing has been the problem of duplicates. In fact, we almost immediately realized the need for a mechanism to identify duplicate transactions," said Winborne. "Trustmark is entirely image-based, so even a small percentage of dupes represents a large number in a high-volume environment."
According to Winborne, Trustmark's yearlong research and due diligence led it to select Dupe Detective from CONIX Systems.
"We chose Dupe Detective primarily due to the fact that it matched our needs profile and is immediately available; we were also impressed by positive feedback on the solution from its other customers," he said. "CONIX Systems has a reputation for standing behind its products and we believe this partnership will benefit Trustmark in the future."
Trustmark expects the following operating benefits by implementing Dupe Detective:
• Catching duplicate items on the front end, prior to posting;
• Ensuring payment return decisions are correct; and
• Adjusting cash letters accurately.
"Trustmark National Bank's selection of Dupe Detective supports its commitment to reducing operating costs on its expanding deposit base and focusing on customer loyalty," said CONIX's Managing Director of Sales, Steve Fortson. "Duplicate exception items, whether by error or fraud, are an unintended consequence of remote deposit capture and the rising popularity of mobile capture will intensify the issue.
"Because of Dupe Detective's broad capabilities in handling all forms of payments, the bank's risks are greatly reduced," Fortson added.
About CONIX Systems, Inc.:
CONIX Systems, Inc. (www.CONIX.com) is a world leader in providing payment processing software and related services to the financial services industry. The company's products perform key processing tasks for an estimated tens of billions in payments each year. CONIX software and services are used by approximately 80 percent of the largest U.S. banks. Its comprehensive solutions are simple to use in production and simple to maintain, guaranteeing high quality performance at the lowest cost.
CONIX has a reputation for driving innovation with products such as Dupe Detective™, which prevents duplicate payments from all channels from posting to customer accounts; Fraud Detective™, which accelerates exceptions processing into Day 1, significantly reducing fraud risk for institutions and their customers; and Enterprise IRD™, which enables comprehensive, high-volume IRD authoring across the enterprise.
Founded in 1992, the company is headquartered in Manchester, Vt., with offices throughout the United States. For more information about CONIX Systems, Inc. and its products call (800) 332-1899 or email info@conix.com .
About Trustmark Corporation:
Trustmark Corporation, with $9.6 billion in assets, is a diversified financial services company that provides banking, wealth management and insurance solutions through its subsidiaries, including Trustmark National Bank, Trustmark Investment Advisors, Inc., TRMK Risk Management, Inc., and Fisher Brown Bottrell Insurance, Inc. With locations in Florida, Mississippi, Tennessee and Texas, Trustmark has over 2,500 associates working to achieve outstanding customer satisfaction by understanding their customers' needs and providing appropriate financial solutions.
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NEWS SOURCE: CONIX Systems, Inc.
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