One of the three largest brokerage firms in the United States, this company operates over 600 branch offices serving institutional and personal clients nationwide.
The company came to Source Technologies with six regional offices that processed and distributed as many as 150,000 checks each month. Storing and processing large quantities of pre-printed checks posed a high risk of fraud without a secure printing solution. Additionally, the firm’s check printers were controlled by checkprinting commands and print files from a variety of sources. All of these factors created a slow, unreliable, and expensive process.
Source Technologies incorporated CheckPartner™ Enterprise (CPE) software and MICR printers in the company’s regional offices, which consolidated data delivery to one program. Security was increased using CPE features such as encryption of print data during transmission and bidirectional control over the printer to prevent unauthorized use. The need for pre-printed check stock was eliminated by merging the variable check data with the appropriate electronic form, reducing the risk of fraud. The entire secure printing solution has reduced system management and maintenance, cut check processing time in half, and has saved the firm more than $150,000 per month in printing and postage costs.
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