SVPCO Image Payments Network Reports Strong Volume Growth in March

Susan Long, Senior Vice President of The Clearing House, responsible for SVPCO-Electronic Clearing Services, said: "Image volume continued to grow nicely in the SVPCO Image Payments Network as participating financial institutions increased both the number and dollar value of check images processed through the system. By leveraging the unique capabilities of our network, institutions of all sizes can streamline their entire check processing operation. SVPCO has an image solution that fits the volume needs of any institution."

Through March, participating institutions in the Image Payments Network were Bank of America, BB&T, Comerica Bank, Fifth Third Bank, First Citizens Bank, HSBC Bank, Huntington National Bank, JPMorgan Chase Bank, KeyBank, LaSalle Bank, M&T Bank, National City Bank, PNC Bank, Sterling National Bank, Union Bank of California, U.S. Bank, Wachovia Bank, and Wells Fargo Bank. Through its relationship with the Federal Reserve, the Image Payments Network can reach more than 10,000 endpoints and help financial institutions of all sizes take advantage of image exchange.

The Image Payments Network offers financial institutions a variety of connectivity options. The SVPCO Distributed Traffic Agent (DTA) enables financial institutions with larger volumes to transmit check images directly to each other. The SVPCO Gateway DTA is a cost-effective solution designed for institutions with smaller volumes or who are interested in gradually ramping up their image processing capabilities. The Image Payments Network can also be accessed through an institution's correspondent banking relationship or through a third-party processor.