PCBB Integrates Canadian Check Imaging With Fiserv Clearing Network
First bankers' bank to provide Canadian check imaging expands the availability of this imaging service to more community financial institutions through Fiserv Clearing Network.
In 2017, PCBB became the first banker’s bank to provide the Canadian check imaging solution to its customers. Financial institutions could always easily clear foreign checks drawn on foreign banks quickly and cost-effectively using PCBB’s proprietary platform. With the addition of a digital imaging service for Canadian checks, bankers achieved faster operational efficiencies and quicker fraud notification, while opening the door to future enhancements. With PCBB’s recent integration with Fiserv Clearing Network, Fiserv clients now have access to these same benefits, along with the ability to grow their customer base in an increasingly digital world. These institutions can now process Canadian checks and offer provisional credit within 24 hours to their business customers. This, in turn, allows businesses to better manage their cash flow and reduces the time FIs spend on manual paper processing.
“Approximately $2.4 trillion is expected to be spent on digital transformation worldwide by 2024. FIs are striving to keep up on this front too. PCBB has prioritized technological innovations for the last several years, driving advancements, such as Canadian check imaging, to market for the digital transformations of our own customers,” says Allen Sztukowski, Senior Vice President of Operations at PCBB. “Our Canadian check imaging integration with Fiserv allows us to provide digital enhancements to a broader group of FIs for more automated and efficient solutions.”
“Many Fiserv financial institution clients see Canadian check clearing as the last paper hurdle to be overcome in their branches,” said Rodrigo Silva, General Manager of Deposit Solutions at Fiserv. “We are working with PCBB to solve this issue in a way that not only eliminates paper from the Canadian check clearing process, but also makes it very easy for banks and credit unions to participate. Our clients simply need to scan paper checks in their branches, or have their business customers use remote deposit capture in their locations, and Fiserv and PCBB take care of the rest.”
There is no doubt that customers want digital, end-to-end banking services these days. PCBB’s integration with Fiserv provides Canadian check imaging to more FIs, so they can support their customers’ needs for a seamless and enhanced banking experience.
Fiserv, Inc. (NASDAQ: FISV) aspires to move money and information in a way that moves the world. As a global leader in payments and financial technology, the company helps clients achieve best-in-class results through a commitment to innovation and excellence in areas including account processing and digital banking solutions; card issuer processing and network services; payments; e-commerce; merchant acquiring and processing; and the Clover® cloud-based point-of-sale and business management platform. Fiserv is a member of the S&P 500® Index and the FORTUNE® 500 and has been recognized as one of FORTUNE World’s Most Admired Companies® for 11 of the past 14 years. Visit fiserv.com and follow on social media for more information and the latest company news.
Founded in 1997, PCBB was created with the sole purpose of helping community financial institutions become stronger. Our mission is to provide fellow bankers with high-quality, competitively-priced solutions and personalized service. PCBB provides a comprehensive set of products and services including correspondent and international services, lending services, hedging solutions, risk management advisory services (such as credit stress testing, CECL, loan pricing and customer profitability). Our services are designed to help you compete more effectively, but we never compete against you for your own customers.
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