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One of the Nation’s Largest Lenders Worked with Rosetta Technologies to Streamline their MICR Printing in More Than 1,600 Stores
About the Customer
With more than 1,600 branches and subsidiaries, this company is one of the largest lending companies in the United States.
With many “stores” across the country this Rosetta Technologies' customer has developed a very efficient business model for gathering credit information, quickly moving through the approval process and generating both the loan document and check right in the store.
The Situation
The company was using a network of IBM AS/400 systems and Xerox MICR printers with a “black box” to convert the IPDS datastream to the printer’s native Postscript or PCL language. Since their installed printers were not native IPDS and the converter was external, the converter and the printer did not truly communicate in the manner of a native IPDS printer, which prevented the customer from taking advantage of IPDS. They were suffering from frequent communication errors, printer hangs, and loss of efficiency.
They were also using serialized check stock for their checks, and printing the serial number on each check through the datastream. The printers were jamming and damaging check stock, which caused mismatches between the numbers. And, because of the age of the printers, they were breaking down more frequently, causing even more business interruptions.
The customer was very concerned about business interruptions, so flawless rollout of new equipment, responsive on-site service, reliable equipment and low cost per copy were essential.
Rosetta Technologies’ Solution
Rosetta Technologies and IBM Printing Systems proposed 1,600 Infoprint 4320 (20 ppm) MICR printers. Rosetta and IBM presented a comprehensive, robust solution, including hardware, supplies, on-site service, program management and reporting services in one package. The combination of IBM and Rosetta Technologies’ service, and the close partnership between the two companies, enabled Rosetta to offer a high-quality MICR solution at a competitive price, providing an edge over the competition.
After extensive joint testing, including testing of the customer’s various paper stocks and print jobs, the customer chose Rosetta Technologies over the incumbent provider.
The Outcome
Initially 1,600 printers were ordered. Because of the successful roll-out 500 more printers were subsequently ordered. The customer was delighted with the smooth transition from their former solution, and immediately noticed improvement in the efficiency in which they were able to distribute checks.
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