Symcor and Laurentian Bank of Canada have signed a 10-year agreement enabling Symcor to provide image-based check processing services across Canada.
Symcor will manage the processing of all checks and bill payments and tracing services that transit through Laurentian Bank (LBC) points of service.
The agreement is valued at is valued at approximately $20m and is expected to commence in the spring of 2005
The financial industry is changing dramatically and our clients need state-of-the-art solutions that improve their service levels while reducing their costs. With this agreement, LBC will have access to an image based platform allowing them to deliver secure and innovative image services to their clients, said Robert Ahier, Symcor’s regional vice president, item processing for Eastern Canada. This technology will enable LBC to offer their clients images of cleared checks and other image-based products via on-line banking.
Louise Bourassa, senior vice president, administrative services, agreed: Laurentian Bank is pleased with this agreement that positions us at the forefront of technical advancement in cheque processing. It will offer numerous advantages to our clients at an interesting quality-price ratio for the Bank.