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Peoples
Bancorp, Inc. Eliminates Daily Exception Item Pull with Voyager™
from Fidelity Information Services
Day
Two Processing Streamlined with the Creation of Check 21 Compliant
Substitute Checks
Jacksonville,
FL
– (April 20, 2005) –
Fidelity
National Financial, Inc. (NYSE:FNF), a Fortune 500 provider of products
and outsourced services and solutions to financial institutions and the
real estate industry, and its Fidelity Information Services
(“Fidelity”) division announced today that Peoples Bancorp Inc. (NASDAQ:PEBO),
a $1.8 billion institution based in Ohio, has transformed their day two
exception item processing (EIP) workflow with Fidelity’s ImageCentre™
and Voyager™ check imaging solutions.
Day
two check processing functions have historically been manual, laborious
and paper-intensive.
Most institutions have a daily EIP workflow of physically
re-capturing all of the previous day’s checks to extract items
requiring special handling. This process is like finding a needle in a
haystack, as institutions must re-sort through tens of thousands of
checks everyday to find the small percent of exception items.
To
eliminate this costly process and streamline day two return item
processing, Peoples Bancorp is using ImageCentre check imaging to assist
in more immediate pay and return check decisions, and Voyager to create
substitute checks for return items and charge-backs.
“The
most immediate benefits of the Voyager solution include reducing our
daily paper handling and sorting by more than three and half hours,
completing our return item cash letters earlier in the day and improving
customer service,” said Steve Nulter, VP and Director of I.T. for
Peoples Bancorp. “While adapting to change is not always easy, this
shift from paper-based to electronic-based day two processing went
smoothly and will subsequently minimize the impact of the transition to
full image exchange.”
ImageCentre
and Voyager were developed by BankWare, a provider of check and
remittance imaging solutions that was acquired by Fidelity in April
2004. The ImageCentre suite provides financial institutions with a
completely browser-based payment processing, document management and
fraud detection solution. Voyager enables financial institutions to
exchange check images as well as create substitute checks and return
files for presentment.
“Streamlining
day two processing is the most immediate and significant way that
financial institutions are achieving cost savings made possible by Check
21 legislation,” said Bob Darty, group executive for Fidelity’s
Integrated Financial Solutions division. “Our advanced imaging
solutions enable clients to capitalize on the innumerable benefits and
efficiencies provided by substitute check creation, image exchange and
the migration from paper-based to electronic-based payment
processing.”
About
Fidelity National Financial
Fidelity
National Financial, Inc., number 261 on the Fortune 500, is a provider
of products and outsourced services and solutions to financial
institutions and the real estate industry.
FNF is the nation’s largest title insurance company, with
nearly 32 percent national market share, and is also a provider of other
specialty insurance products, including flood insurance, homeowners
insurance and home warranty insurance.
Through its majority-owned subsidiary Fidelity National
Information Services, Inc. (“FIS”), the Company is a leading
provider of technology solutions, processing services and information
services to the financial services and real estate industries.
FIS’ software processes nearly 50 percent of all U. S.
residential mortgages, it has processing and technology relationships
with 45 of the top 50 U.S. banks and more than 2,800 small and mid-sized
U.S. financial institutions and it has clients in more than 50 countries
who rely on its processing and outsourcing products and services.
FIS also provides customized business process outsourcing related
to aspects of the origination and management of mortgage loans to
national lenders and servicers.
FIS offers information services, including property data and real
estate-related services that are used by lenders, mortgage investors and
real estate professionals to complete residential real estate
transactions throughout the U.S.
More information about the FNF family of companies can be found
at www.fnf.com and www.fidelityinfoservices.com.
About Peoples Bancorp
Peoples
Bancorp Inc., a diversified financial products and services company with
$1.8 billion in assets, makes available a complete line of banking,
investment, insurance, and trust solutions through 50 locations and 33
ATMs in Ohio, West Virginia and Kentucky. Peoples Bancorp’s financial
service units include Peoples Bank, Peoples Financial Advisors (a
division of Peoples Bank) and Peoples Insurance Agency, Inc. Peoples
Bancorp’s common shares are traded on the NASDAQ national market under
the symbol “PEBO”, and Peoples Bancorp is a member of the Russell
3000 index of US publicly traded companies. Learn more about Peoples
Bancorp at www.peoplesbancorp.com.
This
press release contains statements related to future events and
expectations and, as such, constitutes forward-looking statements.
These forward-looking statements are subject to known and unknown
risks, uncertainties and other factors that may cause actual results,
performance or achievements of the Company to be different from those
expressed or implied above.
The Company expressly disclaims any duty to update or revise
forward-looking statements.
The risks and uncertainties which forward-looking statements are
subject to include, but are not limited to, the effect of governmental
regulations, the economy, competition and other risks detailed from time
to time in the “Management’s Discussion and Analysis” section of
the Company’s Form 10-K and other reports and filings with the
Securities and Exchange Commission.
SOURCE:
Fidelity National Financial, Inc.
CONTACTS:
Daniel Kennedy Murphy, Senior Vice President, Finance and Investor
Relations, 904-854-8120, dkmurphy@fnf.com,
or Dennis Holland,
Fidelity Integrated Financial Solutions, 972-943-2685, dennis.holland@fnf.com.
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