Sicoob Selects Panini Vision X® for Check Truncation Initiative
Panini to Showcase Market-Leading Payments Solutions at Ciab FEBRABAN
Torino, Italy and São Paulo, Brazil (June 14, 2011) – Sicoob, a major Brazilian cooperative bank, through its bank BANCOOB , one of Brazil’s financial institutions with a major check truncation movement in the country, selected Panini’s market-leading Vision X® check scanner for check image capture. Panini, a global payments processing technology provider, will supply the hardware, service and support necessary to execute the SICOOB/BANCOOB check truncation strategy across a network of more than 1,700 branches.
“We certified some equipment and selected Panini’s check scanner due to their flexibility, solution performance, and easy integration to SICOOB’s technical solution. In addition, Panini stands out with excellent support since the beginning of our evaluation phase,” says Ricardo Antonio de Souza Batista, Chief Information Officer, Sicoob.
“Once Brazil began evaluating check truncation, Sicoob immediately began assessing their options for check image capture and processing,” said Nicola Aliperti, CEO, Panini. “We’ve been working with them throughout the evaluation process, and we’re thrilled with their decision to install Panini check scanners in their cooperatives.”
Sicoob installed Panini Vision X check scanners at each teller station in their cooperative bank network to capture check and barcode payment images for remote processing. Check truncation legislation established by Febraban (Federação Brasileira de Bancos) recognizes check images as valid replacements for the physical check allowing banks to process the payments electronically. Sicoob will experience, before most other banks in the country, many benefits including reduced transportation costs, operational savings, and decreased fraud, among others.
Panini will showcase their extensive portfolio of payment processing solutions, including the Vision X, at Ciab FEBRABAN in São Paulo, Brazil this week. Brazilian financial institutions will be welcomed at Stand C2 for product demonstrations, customer testimonials, new product introductions and espresso and conversation with Panini CEO, Nicola Aliperti.
“We’ve made a significant investment in Brazil, including the establishment of a Panini subsidiary in São Paulo last year, so I look forward to meeting the many financial institutions and technology companies attending Ciab this week,” adds Aliperti. “It’s a unique opportunity for me to interact directly with the many important stakeholders in this strategic market.”
Ciab FEBRABAN 2011 takes place 15-17 June at the Transamerica Expo Center in São Paulo, Brazil. Joining Aliperti in Stand C2 will be Panini Limitada (Panini’s Latin American subsidiary) Director, Romeo Gonçalez, his staff, and Panini’s Chief Marketing Officer, Michael Pratt. The staff is available for meetings in Panini’s private meeting room; to schedule please send an email to jessica.back@panini.com.
About Panini
Founded in Turin, Italy, Panini has enabled clients to capitalize on shifts in the global payments processing market for more than sixty years. Panini has a rich history of technology innovation, leveraging the company’s expertise in research & development. Panini’s market leading solutions are based on state-of-the-art engineering resources and ISO-9000 quality certified production. Panini offers check capture solutions that enable customers to fully realize the advantages and efficiencies available with the digital transformation of the paper check. Panini’s scalable check capture solutions address the complete range of distributed check processing opportunities including teller capture, back-counter capture, remote deposit capture and remittance processing. For more information please call 937.291.2195 or visit www.panini.com.