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Banking and Finance News
P R E S S R E L E A S E :
Exception Day 1 Processing to become a reality by CONIX
Systems, Inc. and Data Support Systems (DSS)
Thu, 17 Jun 2010, 18:38:54 EDT
MANCHESTER, Vt., June 17, 2010 (SEND2PRESS NEWSWIRE) -- CONIX Systems,
Inc. (CONIX), a leading international provider of payment processing solutions to the
financial services industry and pioneer in the acceleration of exception processing and
Data Support Systems (DSS), a leading provider of image-based back office payment
processing solutions, have formed a partnership to accelerate exception processing
across the banking industry.
Under this partnership, DSS and CONIX will deliver a comprehensive end-to-end Day 1
exception solution by seamlessly integrating CONIX's Xcept and Dupe Detective
products with the DSS TRIPS Suite for image-based back office transactions. The
integrated solution will provide a common decision engine for all exceptions.
"Exception processing is the elephant in the room as banking institutions evaluate their systemic risk," said Frank Stokes,
president of technology, CONIX Systems. "A CONIX - DSS joint problem-solving partnership for exception processing is a
natural fit. We possess complementary skills to co-develop an integrated solution."
The combined impact of image exchange, remote deposit capture, and the emergence of new electronic payment channels
has increased exception volumes and exception types. Additionally, this has created new issues that are costly to resolve,
threaten customer loyalty, and carry long-term risk for financial institutions. When exception items are identified and returned
in a Day 1 timeframe, their impact on the institution is contained and transparent to account holders.
"Accelerating exceptions processing to Day 1 should be a priority, not just for banks but for the financial industry at large," said
Carl Bortol, president and founder of DSS. "The TRIPS Suite leads the