The SVPCO Image Payments Network has announced it exchanged a record 5.6 billion check images in 2008, up 97% from 2.8 billion images in 2007. For all of 2008, dollar volume also hit an all-time high of $8.5 trillion, up 71% from $5 trillion in 2007. The number of institutions exchanging images also rose to an all-time high of 44 in 2008, up from 24 in 2007. The SVPCO Image Payments Network began operations in January 2005. READ MORE »

SVPCO, the paper and electronic check exchange business of The Clearing House Payments Company L.L.C., reports that the SVPCO Image Payments Network set records for both monthly items and dollar value in June 2008. READ MORE »

Financial institutions connected to the SVPCO Image Payments Network have begun forming new correspondent clearing relationships that are spurring the growth of image exchange among regional institutions and further reducing check processing costs.

SVPCO has announced that its monthly image items and dollar volume grew strongly in September compared to a year ago - processing 255.3 million in total monthly items, a 218.3% increase compared to a year ago representing $427.8 billion in total monthly dollar value, a 119.9% increase compared to a year ago.

We have received news of the following recent management changes:

• The Clearing House Payments Company today announced that Senior Vice President Susan Long will manage both paper check and electronic check clearing services on Oct. 1 and that Senior Vice President Jerry Milano, head of SVPCO Check Services, will retire on March 31, 2008. Long, who joined The Clearing House 14 years ago, had been running SVPCO’s electronic check services.

SVPCO, the check image and paper check business of The Clearing House Payments Company L.L.C., has announced that its average daily check image items and dollar value exceeded its paper check items and dollar value for the first time in its history during April.

SVPCO - Electronic Clearing Services, the electronic check and check image exchange business of The Clearing House Payments Company, has announced that The Bank of New York is now participating in the SVPCO Image Payments Network.

Endpoint Exchange LLC, a Metavante company, and SVPCO – Electronic Clearing Services, the electronic check and check image exchange business of The Clearing House Payments Company LLC, have announced that member financial institutions of both systems can now exchange check data and images.

SVPCO has announced that the total number of check images and the dollar value hit an all-time high in March reaching a total of 177.4 million in total monthly items, a 507% increase compared to a year ago. March's volumes totaled $333.8 billion in total monthly dollar value from an average of 8 million daily items.

SVPCO-Electronic Clearing Services has reported that the number of check images exchanged in 2006 soared 15-fold compared to 2005, while the dollar value jumped 5-fold year-over-year.

Glenbrook's Carol Coye Benson spoke yesterday with George F. Thomas, who oversees strategy and product management at The Clearing House in New York. Carol filed this report on her conversation with George.

SVPCO - Electronic Clearing Services, the electronic check and check image exchange business of The Clearing House Payments Company L.L.C., has announced that U.S. Bank is now exchanging check images via the SVPCO Image Payments Network.

SVPCO - Electronic Clearing Services has announced that Sterling National Bank is now participating in the Image Payments Network. Sterling’s first exchange partner is Bank of America.

SVPCO-Electronic Clearing Services has announced that monthly check image volume in August surpassed $200 billion and 75 million items as compared to $45.3 billion and 5.3 million items in the same month last year.

SVPCO - Electronic Clearing Services, the electronic check and check image exchange business of The Clearing House Payments Company L.L.C., has announced that The PNC Financial Services Group is now exchanging check images through the SVPCO Image Payments Network.

SVPCO - Electronic Clearing Services, the electronic check and check image exchange business of The Clearing House Payments Company L.L.C., has announced the availability of SVPCO Gateway DTA, a new, low-cost option for gaining access to the SVPCO Image Payments Network.

Bank of America announced today that it reached 5 million items exchanged via image in a single day.

SVPCO-Electronic Clearing Services has announced that the number of monthly items in May grew 44.4% to an all-time high of 50.8 million.

SVPCO-Electronic Clearing Services has announced that the average number of daily items in March grew 24.2% to an all-time high of 1.2 million. For the first quarter of 2006, the total number of daily image items was 62.5 million, compared to 52 million for all of 2005.

SVPCO-Electronic Clearing Services, the electronic check and check image exchange business of The Clearing House Payments Company L.L.C., has reported that daily average check image volume in the Image Payments Network grew 47% in February and surpassed 1 million items a day for the first time.

SVPCO - Electronic Clearing Services, the electronic check and check image exchange business of The Clearing House Payments Company L.L.C., has announced that the Federal Reserve is now sending check images to financial institutions via the SVPCO-Image Payments Network.

SVPCO has announced that HSBC Bank USA is now exchanging and settling check images through the SVPCO Image Payments Network.

The Clearing House Payments Co. has announced that the Federal Reserve is now linked to the SVPCO Image Exchange Network to facilitate the electronic movement of image files.

"The Federal Reserve and SVPCO-Image Exchange Network connection is a major milestone for the nation's payments system, and it will help usher in a new era of clearing checks in an all-electronic environment that will benefit institutions nationwide," said George Thomas, Executive Vice President of The Clearing House. "The early volumes being sent through the Image Exchange Network are significant, and we expect that to increase substantially in 2005."

SVPCO Check Services has announced the launch of SVPCO National Check Exchange, a new national check clearing service that "provides participating institutions with the ability to exchange checks across regions more efficiently, following a universal set of rules."

SVPCO has announced the official production launch of its Image Exchange Network following a two month trial period with KeyBank and JPMorgan Chase. READ MORE »