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Computer peripherals industry

Unisys and Barclays Launch Image-Based Cash Management Service in the UK

Strategic Insights

— 1 min read

Unisys Corporation has announced a collaboration with Barclays Bank to launch a check image-based cash management service, called ImagePay, in the UK. This innovative service enables businesses to outsource the reconciliation of payments and view check images on screen, streamlining the decision-making process and reducing the risk of fraud. ImagePay is expected to be launched in the second half of 1998 and will utilize Unisys's image-enabled check processing services and IRIS software. The service will provide significant benefits to businesses, including reduced manual processing, lower risk of human error, and improved reconciliation against account payable ledgers.

Key Takeaways:

  • Unisys and Barclays have partnered to launch ImagePay, a check image-based cash management service in the UK.
  • ImagePay enables businesses to outsource the reconciliation of payments and view check images on screen, reducing manual processing and risk of human error.
  • The service utilizes Unisys's image-enabled check processing services and IRIS software.
  • ImagePay will be launched in the second half of 1998 and will provide benefits such as reduced operating and administration costs, and improved reconciliation against account payable ledgers.
  • The service will also include an on-line automated stop check facility and will utilize Unisys's state-of-the-art payment processing systems.
  • ImagePay will be a key element in Barclays's commitment to providing leading-edge, image technology-based cash management services.
  • James Witkins, managing director of Barclays Payments and Cash Management Services, stated that ImagePay is an essential tool for electronically reconciling paper-based payments.
  • John Smith, director of Unisys Payment Solutions for the UK, said that the agreement with Barclays demonstrates the potential for image-enabled processing technology and payment processing services.

Statistics:

  • Unisys is the UK's largest and most successful provider of high-quality, cost-effective payment processing services.
  • Unisys provides processing services to major UK banks such as the Co-operative Bank, Girobank, Yorkshire Bank, and Clydesdale Bank.
  • The ImagePay service will utilize Unisys's state-of-the-art payment processing systems, capable of capturing, storing, and retrieving images of checks and other payment documents.
  • The service is expected to be launched in the second half of 1998.

Sources:

  • BUSINESS WIRE: Unisys Corporation (June 9, 1998)
  • Unisys Corporate Website: http://www.unisys.com (accessed on [current date])

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