LaSalle Bank Corporation Utilizes OPEN SCAN And Cash Management Systems To Provide Wholesale Lockbox Exception Automation Software
LaSalle Bank Corporation, based in Chicago, will implement the industry-leading OPEN SCAN® lockbox module to optimize processing of wholesale exception payments. Open Scan Technologies, Inc., a pioneer in exception automation software, along with business partner, Cash Management Systems of Clearwater, Fla., will allow LaSalle Bank's customers to create a more efficient cash management environment.
"OPEN SCAN's technology allows LaSalle Bank to seamlessly integrate exception automation within our existing wholesale lockbox processing environment," said Matt Boatman, senior vice president of Receivables Management at LaSalle Bank. "As LaSalle Bank works to further accelerate our clients' receivables and their access to business critical information, OPEN SCAN gives us the flexibility to handle a complete range of remittance documents with even greater accuracy."
OPEN SCAN's lockbox technology provides the highest level of data capture accuracy while offering a user-friendly Web-based client interface. "The OPEN SCAN lockbox solution helps reduce the manual keystroke time of many of LaSalle's wholesale jobs, therefore opening the door for enhanced client servicing and product offerings," said Nadine Lange, president and CEO of OPEN SCAN. "Until now, lockbox service providers had no choice but to replace or upgrade their entire processing systems to improve exception processing. Now, with the OPEN SCAN plug-in module, providers can deliver more data content to clients, enhancing their treasury and cash management capabilities."
The lockbox module that LaSalle Bank will utilize is the only system industry wide that can be inserted into any lockbox environment without interruption to the currently implemented system. The OPEN SCAN lockbox module imports electronic check and remittance images directly from any hardware or application source. Data is automatically captured, validated and balanced, then delivered back to the main lockbox workflow seamlessly in a variety of formats, including XML.
About CMS
Located in sunny Clearwater, FL, Cash Management Solutions has been an industry leader in remittance processing software development for over fifteen years, and was the first such vendor to develop automated image remittance applications utilizing less expensive PC technology. Since then, CMS has continued to provide its customers with sophisticated solutions for all aspects of their remittance processing needs, offering highly innovative image-based lockbox software, cutting edge image delivery, and integration with some of the most advanced hardware in the industry. For more information, visit the company's corporate Web site at www.cashmgmt.com.
About LaSalle Bank Corporation
LaSalle Bank Corporation is headquartered in Chicago with $110 billion in assets. Its primary subsidiaries are LaSalle Bank and LaSalle Bank Midwest. LaSalle Bank is based in Chicago with $69.8 billion in assets, $39.8 billion in deposits, more than 140 retail locations and 500 ATMs. LaSalle Bank is the second largest bank in Chicago. Subsidiaries include LaSalle National Leasing Corporation, LaSalle Business Credit, LLC and LaSalle Financial Services, Inc.
LaSalle Bank Midwest is headquartered in Troy, Mich., with $39.2 billion in assets and $20.7 billion in deposits. One of the largest banks in the Midwest, LaSalle Bank offers a complete range of investment, commercial and retail banking products and services through 260 branches and more than 1,000 ATMs in Michigan and Indiana. Chicago-based LaSalle Bank and Michigan-based LaSalle Bank Midwest are direct subsidiaries of LaSalle Bank Corporation.
LaSalle Bank Corporation is a subsidiary of Netherlands-based ABN AMRO Bank, one of the world's largest banks with total assets of EUR 855.7 billion and a presence in more than 3,000 locations in over 60 countries. ABN AMRO is organized into three autonomous strategic business units, responsible for managing wholesale clients; consumer and commercial clients; and private clients and asset management.
About OPEN SCAN Technologies, Inc.
Founded in 1998, Denver, Colorado based OPEN SCAN® helps many of the world's leading organizations and government agencies measurably increase operational savings by automating their mixed and exception mail and remittance processing. OPEN SCAN manages the widest range of unstructured documents including invoices, check lists and check skirts. The company's core technologies, data capture, intelligent parsing and reconstruction lead the industry and are compatible with market-leading scanning devices and back-end completion systems. OPEN SCAN offers the most automated way to properly process exceptions; enabling customers to speed cash flow, minimize manual processing, increase data accuracy, and maintain security. For more information please visit: www.openscantech.com.