Zions Bancorporation has selected Fiserv's ARP/SMS (Account Reconciliation Package/Service Management System): Exceptions Workflow application to implement an image enabled exceptions processing.
Zions Bancorporation, which has been using the Fiserv ARP/SMS solution for 15 years, will now be able to streamline its exceptions processing, reduce check fraud risk and service more accounts without adding more staff by adding the Exceptions Workflow module.
According to Fiserv, ARP/SMS: Exceptions Workflow provides quick access to the data required for both research and timely, informed exception actions. It enables financial institutions to handle more positive pay and payee verification accounts and better control exception handling costs.
Zions Bancorporation strategic planning senior vice president Frank DiPuma said that the company has been using ARP/SMS from Fiserv for positive pay processing and to identify the exceptions and provide the online data. However, until now, the image was not available through SMS.
“Now with Exceptions Workflow, those images will be provided and any subsequent actions and corrections will be integrated right into our ARP/SMS system tightly and seamlessly. By implementing Fiserv’s Exceptions Workflow module, we can add more positive pay accounts and reduce the cost of handling exceptions, resulting in a more profitable product,” DiPuma said.
Zions, which offers SBA lending, public finance advisory services and agricultural finance, operates over 500 full-service banking offices in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah and Washington.