You can contact us by e-mail at info@eccho.org or by calling (214) 273-3200.
- November 7, 2008 - RP Solution enlists as an ECCHO Sponsoring Organization.
- November 5, 2008 - SWACHA registers as an ECCHO Sponsoring Organization.
- October 22, 2008 - ECCHO welcomes Hancock Bank as its newest Sponsoring Organization.
- September 30, 2008 - TIB The Independent Bankersbank becomes ECCHO's newest Sponsoring Organization.
- September 22, 2008 - Sterling Savings Bank joins ECCHO as the newest Sponsoring Organization.
- August 20 , 2008 - Catch 21, Inc. registers as an ECCHO Sponsoring Organization.
- July 30, 2008 - Abound Resources, Inc. enlists as an ECCHO Sponsoring Organization.
- July 21, 2008 - ECCHO welcomes Trustmark Bank as its newest Sponsoring Organization.
- July 7, 2008 - Quad City Bank & Trust becomes ECCHO's newest Sponsoring Organization.
- June 11, 2008 - ECCHO welcomes Bankers' Bank of the West as its newest Sponsoring Organization.
- May 9, 2008 - Bankers' Bank enlists as an ECCHO Sponsoring Organization.
- May 5, 2008 - VSoft Corporation becomes a Sponsoring Organization of ECCHO.
- May 2 , 2008 - MoneyGram International joins as ECCHO's newest Sponsoring Organization.
- April 22, 2008 - ECCHO welcomes Solutran, Inc. as its newest Sponsoring Organization.
- April 15, 2008 - Panini North America becomes ECCHO's newest Sponsoring Organization .
- March 31, 2008 - ECCHO welcomes Key Bank, National Association as its newest Sponsoring Organization.
- March 31 , 2008 - Systar, Inc. becomes a Sponsoring Organization of ECCHO.
- March 21, 2008 - The Mid-Atlantic Payments Association (MACHA) enlists as an ECCHO Sponsoring Organization.
- March 21 , 2008 - CONIX Systems, Inc. registers as an ECCHO Sponsoring Organization.
- March 17, 2008 - ECCHO welcomes Georgia Automatic Clearing House Association (GACHA) as its newest Sponsoring Organization.
- March 3, 2008 - JPMorgan Chase enrolls as ECCHO's newest Sponsoring Organization.
- March 1, 2008 - Fifth Third Bank joins as ECCHO's first Participating Member.
- January 30, 2008 - Remote Deposit Capture, LLC becomes a Sponsoring Organization of ECCHO.
- January 14, 2008 - Volunteer Corporate Credit Union enlists as an ECCHO Sponsoring Organization.
- January 7, 2008 - Affirmative Technologies, Inc. registers as an ECCHO Sponsoring Organization.
- January 7, 2008 - ECCHO welcomes Data Support Systems, Inc. as its newest Sponsoring Organization.
- January 7, 2008 - Software Earnings, Inc. enrolls as an ECCHO Sponsoring Organization.
- December 12, 2007 - UniPro Systems, Ltd. registers as an ECCHO Sponsoring Organization.
- December 10, 2007 - ECCHO welcomes Minnesota Item Processing Corporation as its newest Sponsoring Organization.
- November 27, 2007 - Premier Check Printing enrolls as an ECCHO Sponsoring Organization.
- November 16, 2007 - Alabama Banker's Bank, N.A. becomes a Sponsoring Organization of ECCHO.
- November 16, 2007 - ECCHO welcomes Payments Information Circle, LLC as its newest Sponsoring Organization.
- October 10, 2007 - EPSON America enrolls as ECCHO's newest Sponsoring Organization.
- September 13, 2007 - Symcor enlists as a Sponsoring Organization of ECCHO.
- August 6, 2007 - Diversified Check Solutions, LLC. signs up as ECCHO's newest Sponsoring Organization.
- August 3, 2007 - Arkansas Bankers' Bank becomes a Sponsoring Organization of ECCHO.
- July 30, 2007 - Southwest Corporate Federal Credit Union registers as ECCHO's newest Sponsoring Organization.
- July 30, 2007 - All My Papers (a California Corporation) registers as a Sponsoring Organization.
- July 3, 2007 - Checkmation - a division Datanet Solutions, Inc. becomes ECCHO's newest Sponsoring Organization.
- June 27, 2007 - First National Bankers Bank (Louisiana) and Mississippi National Bankers Bank enroll as ECCHO's newest Sponsoring Organizations.
- June 20, 2007 - ProfitStars, A Jack Henry Company signs up as ECCHO's newest Sponsoring Organization.
- April 9, 2007 - i_TECH Corporation registers as an ECCHO Sponsoring Organization.
- March 27, 2007 - Avalon International, Inc. registers as ECCHO's newest Sponsoring Organization.
- March 15, 2007 - RDM Coporation becomes a Sponsoring Organization of ECCHO.
- March 1, 2007 - Independent Bankers Bank (IL) enrolls as ECCHO's newest Sponsoring Organization.
- February 22, 2007 - Upper Midwest Automated Clearing House Association (UMACHA) joins ECCHO as a Sponsoring Organization.
- February 21, 2007 - ECCHO welcomes Cole Taylor Bank as ECCHO's newest Sponsoring Organization.
- February 16, 2007 - Aperta, Inc. signs up as ECCHO's newest Sponsoring Organization.
- February 1, 2007 - US Dataworks, Inc. becomes a Sponsoring Organization of ECCHO.
- January 8, 2007 - The Bankers Bank (GA) registers as ECCHO's newest Sponsoring Organization.
- January 8, 2007 - Fidelity Integrated Financial Solutions enlists as ECCHO's newest Sponsoring Organization
- January 3, 2007 - The Bankers Bank Kentucky enrolls as ECCHO's newest Sponsoring Organization
- January 1, 2007 - Citizens Bank RI becomes ECCHO's newest Full Member.
- December 14, 2006 - Alabama Automated Clearing House Association (ALACHA) registers as ECCHO's newest Sponsoring Organization
- December 7, 2006 - ECCHO welcomes Goldleaf Financial Solutions as a Sponsoring Organization.
- November 27, 2006 - Bankers' Bank Northeast signs up as ECCHO's newest Sponsoring Organization.
- November 3, 2006 - Bank of America enlists as a Sponsoring Organization
- October 26, 2006 - Comerica Incorporated registers as ECCHO's newest Sponsoring Organization
- October 24, 2006 - Atlantic Central Bankers Bank becomes a Sponsoring Organization.
- October 13, 2006 - Bankers' Bank of Kansas, N.A. joins as a Sponsoring Organization
- October 10, 2006 - Integrated Bank Technology, Inc. enrolls as ECCHO's newest Sponsoring Organization
- October 4, 2006 - LaSalle Bank, N.A. registers as a Sponsoring Organization
- September 21, 2006 - Omni-Soft, Inc. signs as ECCHO's newest Sponsoring Organization.
- August 21, 2006 - ECCHO welcomes The Bankers Bank as a Sponsoring Organization
- August 18, 2006 - WAUSAU registers as ECCHO's newest Sponsoring Organization
- August 16, 2006 - The Check Image Strategies Group enlists as a Sponsoring Organization
- August 15, 2006 - U.S. Bank, N.A. registers as a Sponsoring Organization.
- August 13, 2006 - Rosetta Technologies signs as ECCHO's newest Sponsoring Organization.
- August 10, 2006 - International Consulting, Inc. becomes a Sponsoring Organization.
- August 8, 2006 - Integrated Payment Systems joins as a Sponsoring Organization.
- August 2, 2006 - Myriad Systems, Inc. enrolls as ECCHO's newest Sponsoring Organization
- July 10, 2006 - Great Lakes Bankers Bank registers as a Sponsoring Organization.
- July 7, 2006 - Wachovia Corporation enrolls as a Sponsoring Organization.
- July 6, 2006 - ECCHO hires Stephanie Morrow as Office Coordinator. ECCHO is excited about this new addition to their office team. Stephanie brings to ECCHO 8 years human resources, accounting, events and general office experience. Stephanie's primary focus is on administration of the Dallas office including A/R, A/P and vendor relations. You may reach her at 214-273-3210 or smorrow@eccho.org.
- July 3, 2006 - Data Management Products enrolls as a Sponsoring Organization.
- June 30, 2006 - ECCHO hires Ellen Heffner as Director of Product Management. ECCHO is pleased to announce the addition of another key employee. Ellen adds to ECCHO's experience base more then twenty years in Product Management through previous positions across the banking industry including past positions with Bank of America’s predecessor organizations and most recently, in group management and operations roles within Carreker Corporation. Ellen's initial and primary focus will be to provide educational support for the expanding ECCHO membership base working with and through the Sponsoring Organizations to provide information on ECCHO rules and membership opportunities to Sponsored Members. Ellen can be reached at 214-273-3211 or eheffner@eccho.org.
- June 20 , 2006 - Pacific Coast Bankers' Bank signs on as a Sponsoring Organization.
- May 29, 2006 - Nebraska Bankers' Bank, NA becomes a Sponsoring Organization.
- May 26, 2006 - Midwest Independent Bank signs up as a Sponsoring Organization.
- May 11, 2006 - LendingTools.com joins as a Sponsoring Organization.
- May 1, 2006 - Bearing Point has become a Sponsoring Organization.
- April 11, 2006 - LaSalle Bank, Chicago Joins ECCHO as a Full Member.
- March 28, 2006 - C&A Associates, Inc. enlists as a Sponsoring Organization.
- March 15, 2006 - United Bankers' Bank joins up as a Sponsoring Organization.
- February 13, 2006 - Inovium Corporation registers as a Sponsoring Organization.
- January 20, 2006 - The Bank of New York Joins ECCHO as a Full Member.
- January 1, 2006 - National City Signs as ECCHO's newest Full Member.
- December 20, 2005 - Independent Bankers' Bank of Florida registers as a Sponsoring Organization.
- November 29, 2005 - WACHA enrolls as a Sponsoring Organization.
- October 17, 2006 - iStream Imaging signs on as a Sponsoring Organization.
- October 3, 2005 - BancorpSouth Joins ECCHO. Welcome to BancorpSouth,our newest Full Member.
- August 29, 2005 - Frost Bank becomes a Sponsoring Organization.
- August 25, 2005 - Open Solutions signs up as a Sponsoring Organization.
- August 8, 2005 - Compass Bank joins as an ECCHO Sponsored Member through Viewpointe and as such has obtained coverage under the ECCHO Rules.
- July 24, 2005 - ECCHO hires Scott Miller as Director of Business Development. ECCHO is pleased to announce the addition of another key employee. Scott adds to ECCHO's experience base more then twenty years experience in bank operations and marketing through his previous positions with the Helena Branch of the Federal Reserve Bank of Minneapolis. Scott's initial and primary focus will be the expansion of ECCHO's membership base to many institutions of all sizes. Contact email smiller@eccho.org or telephone 406-457-5487.
- June 21, 2005 - Image Exchange to Adopt ECCHO Rule Set
- June 8, 2005 - COCHA joins as an ECCHO Sponsoring Organization.
- June 1, 2005 - MPX enlists as a Sponsoring Organization.
- May 2, 2005 - ECCHO's Comment Letter regarding Proposed Amendments To Regulation CC
- April 27, 2005 - Solutran supports ECCHO as the national provider of electronic check presentment (ECP) and image exchange rules.
- April 12, 2005 – The National Clearing House Association (NCHA) has become an ECCHO Sponsoring Organization. Signed on March 31, 2005.
- March/April 2005 -"Don't Count Out the Check
" By Clint Swift . Article in BAI's Banking Strategies Magazine . ECCHO's David Walker, a leader in check electronification, argues that the banking industry should use imaging technology to capitalize on the strengths of the paper check and extend its life as a bank-centric payment system.
- March 23, 2005 - Endpoint Selects ECCHO Rules. Metavante Corporation today announced that The Endpoint Exchange Network has endorsed and will adopt the check image exchange rules established by ECCHO.
- March 11, 2005 - U.S. Central Credit Union Joins ECCHO. Welcome to U.S. Central our newest Full Member and our first credit union. As a Full Member, U.S. Central adds a new dimension to the ECCHO membership and the Board of Directors.
- March 2, 2005 - World Savings Bank Joins ECCHO. World Savings, sponsored by Wespay, is ECCHO’s first Sponsored Member and our first savings bank member. Welcome to World Savings and congratulations to Wespay.
- December 7, 2004 - M&I Marshall & Ilsley Bank (M&I), an affiliate of Marshall & Ilsley Corporation (NYSE: MI), today announced that it has joined the Electronic Check Clearing House Organization (ECCHO). Paul T. Danola, Metavante Corporation senior executive vice president and group executive of its Financial Services Group, will represent M&I on the ECCHO board of directors. Metavante is the financial technology subsidiary of Marshall & Ilsley Corporation.
- December 7, 2004 - Wespay enlists as a Sponsoring Organization.
- January 30, 2004 - Southern Financial Exchange joins as a Sponsoring Organization.
- December 28, 2003- ECCHO Hires Elizabeth Westbrook as Office Manager and Meeting Planner (becomes Director, Member Services in August 2006). Elizabeth brings over 20 years experience in Project Management, Office Management, Customer Service, Event planning, and Accounting to the ECCHO team. Elizabeth can be reached at 214-273-3203 or ewestbrook@eccho.org.
- June 11, 2002 - Sterling Commerce endorses ECCHO initiatives.to standardize ECP and Image Exchagne
- December 11, 2000 - ECCHO Hires Walker and Meyerson
- February 24, 1999 - Any Bank can Afford ECCHO Membership: Membership Cost as Little as $100 per Year
- January 6, 1999 - BITS endorses ECCHO as the private-sector national-level rules making body for ECP and SVPCo as the coordination point for multi-lateral ECP for the banking industry: Move towards electronification of checks means cost effective, efficient payments
- November 13, 1998 - Banks Create Common ECP Rules Through Agreement Between SVPCo & ECCHO: Demonstrates Solid Support for ECP Through Common Rules
- April 16, 1998 - Fleet Expands ECCHO Presence to become Full Member
- April 15, 1998 - ECCHO Appoints New Executive Director
June 21 , 2005
Image Exchange to Adopt ECCHO Rule Set
Birmingham, AL (June 21, 2005) Image Exchange LLC (www.imageexchange.net) today announced that they have adopted the check image exchange rules established by industry-leader Electronic Check Clearing House Organization (ECCHO).
ECCHO has been actively involved in the development of rules using electronics to facilitate a more efficient check payment system. Existing paper check law includes large volumes of statutory, regulatory and case law to govern the exchange of paper checks. There is however no law to govern the exchange of check images. Without ECCHO’s rules, institutions exchanging images would assume an indeterminate amount of risk. ECCHO’s rules address this deficiency in check law by providing a common, multilateral agreement among the members.
Image Exchange’s agreement with ECCHO ensures that when its customers exchange check images through Image Exchange’s iXchange system they will be covered by clearinghouse rules that are the accepted industry standard.
“Everyday it is increasingly apparent that many banks are making commitments to exchanging check images,” said David Walker, president of ECCHO. “Banks can see the strategic value of image-based check truncation and are moving forward. ECCHO is very pleased to be working with Image Exchange to bring additional value to its customers.”
“The process of exchanging electronic check images is an ever-evolving one,” said Russell Lloyd, vice president of Image Exchange. “By partnering with such a respected and established organization as ECCHO, Image Exchange members will have access to proven, well-planned exchange guidelines that not only facilitate the exchange process itself, but pave the way for broader acceptance and expansion of the exchange of images across the United States.”
About ECCHO
ECCHO is a not-for-profit national clearinghouse that is owned by its member banks. Formed in 1990, its primary objective is to fill the legal void created by mixing paper checks with electronics such as in the exchange of check images. ECCHO has also been recognized and is supported by many organizations as the national provider or ECP and image exchange rules. Membership in ECCHO is available to every depository financial institution. Current members hold deposits of approximately $2.9 trillion. Additional information on ECCHO can be found at www.eccho.org.
About Image Exchange
Image Exchange LLC provides methods for electronic check clearing through its iXchange solution, which contains features for forward, return, adjustments, and settlement tracking. It is an affiliate company of Brasfield Technology, LLC. Brasfield Technology, LLC develops cutting-edge technology for the financial services marketplace. Current solutions include Internet banking, telephone banking, digital surveillance, information systems security and more. Brasfield Data Services, LLC is also an affiliate company of Brasfield Technology. Its goal is to provide community banks with quality data processing services and world-class customer service. Image Centre LLC, another Brasfield affiliate, provides a browser-based, outsourced, check and document imaging solution. For more information on Image Exchange or its other affiliates, please visit www.imageexchange.net or www.brasfieldtech.com or contact Karly Field at 205.408.6900 or kfield@brasfieldtech.com .
For Immediate Release
For More Information Contact:
Russell Lloyd
Image Exchange LLC
205.981.4253
rlloyd@brasfieldtech.com
April 12, 2005
NCHA Signs Sponsorship Agreement with ECCHO for Rules Coverage
Dallas, TX – April 12, 2005 –Industry Moves One Step Closer to National Use of Standardized Image Exchange Rules for the Private Sector. The National Clearing House (NCHA), the country’s largest check clearing association, today announces it signed a sponsoring organization agreement with the Electronic Check Clearing House Organization (ECCHO) to provide its members ECCHO image exchange rules coverage. This agreement comes at a time when more and more NCHA members are ready for image exchange and have the greatest desire for comprehensive rules coverage and standardization to maximize network participation and expand trading relationships across networks in support of network interoperability.
NCHA is currently settling image exchange transactions initiated by its members through various networks, including Endpoint Exchange, SVPCo and Viewpointe. Multiple rule sets and bilateral agreements are involved. The availability of ECCHO rules to all members will bring greater efficiency to the process and eliminate any rules barrier to participation in any network or across networks.
“The objective of Sponsoring Organizations is to provide a single set of image exchange rules to every institution across the U.S. while supporting the existing relationships between those institutions and their primary service providers such as clearinghouses,” said David Walker, ECCHO President and CEO. “NCHA members that wish to be covered by the ECCHO image exchange rules will continue to be members of NCHA. The complementary provisions of NCHA’s settlement services and ECCHO’s image exchange rules will greatly facilitate the transition to more efficient, image-based check collection and return processes.”
Alan Lee, S.V.P., U.S. Bank and NCHA Chairman of the Board, said, “NCHA is committed to providing an excellent mix of services to its members and customers. The execution of this agreement with ECCHO provides comprehensive image rules that will minimize the risk of applying technology to enhance the check payments system. This is a great step forward for both organizations.”
“ECCHO and NCHA have a long standing relationship related to our common membership and settling Electronic Check Presentment (ECP) transactions covered by ECCHO ECP rules,” said Fred Redeker, NCHA President and CEO. “We are pleased to expand the relationship in this capacity to help the industry move forward with image exchange under national standards and a goal of image exchange network interoperability. The ECCHO image exchange rules provide a structured and comprehensive processing environment for the exchange of check images addressing issues not currently addressed by check law.”
About The National Clearing House The National Clearing House is a member-owned and member-driven national association of financial institutions. It is the single largest settler of check volume cleared in the United States, settling over 6.6 billion items annually representing over 55% of all checks estimated to be cleared in the private sector. NCHA provides check clearing, settlement and related services to over 550 check processing sites of its 274 members and members of seventeen Associated Clearing Houses across the country. Membership ranges from 17 of the 20 largest banks to hundreds of regional and community banks and credit unions. NCHA supports industry standards and continues to expand services through valuable partners and alliance in its commitment to promote image exchange and help the entire industry manage the transition. Visit NCHA on the Web at www.thencha.com.
About ECCHO ECCHO is a not-for-profit national clearinghouse that is owned by its member banks. Formed in 1990, its primary objective is to fill the legal void created by mixing paper checks with electronics such as in the exchange of check images. ECCHO has also been recognized and is supported by many organizations as the national provider of ECP and image exchange rules. During 2004, ECCHO member banks used ECP in the exchange of approximately 2.5 billion transactions totaling $4.0 trillion. Every depositary institution is eligible to membership in ECCHO. Current members hold deposits and approximately $3.2 trillion. Additional information about ECCHO can be found at www.eccho.org.
For more information about ECCHO, its check electronification vision or membership in ECCHO, please contact David Walker at (866) 440-4709. Also visit ECCHO's web site at www.eccho.org for additional educational information.
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March 23, 2005
Endpoint Selects ECCHO Rules
OKLAHOMA CITY, March 23, 2005 - Metavante Corporation today announced that The Endpoint Exchange Network has endorsed and will adopt the check image exchange rules established by the Electronic Check Clearing House Organization (ECCHO).
ECCHO took the lead in representing the industry's interests in the creation and implementation of a comprehensive set of image exchange rules. These rules facilitate the transition to a more efficient check payment system and every depository institution is eligible for membership in ECCHO.
ECCHO is recognized and is supported as the national provider of clearing house rules for electronic check presentment and check image exchange by leading financial services trade associations, clearing houses, and data processors.
With this announcement, more than 4,000 Endpoint Exchange Network member institutions will be eligible to exchange checks under the ECCHO rule set in accordance with the sponsorship agreement. Endpoint Exchange Network member institutions can leverage ECCHO membership to insure collection and settlement of electronic cash letters is controlled by a single, standard, national rule set.
"This agreement between ECCHO and the Endpoint Exchange Network is a key step in achieving the universal exchange of check images across the U.S. We anticipate that Endpoint's decision to become a sponsoring organization, will hasten the achievement of that objective. We are very pleased with our new relationship with the Endpoint Exchange Network," said David Walker, ECCHO president.
"The ECCHO rules are the accepted industry standard for check image exchange," said Mark Craig, general manager of CheckClear LLC, which operates the Endpoint Exchange Network. "Our member institutions will benefit from common image exchange rules and also from ECCHO's leadership since 1990 to eliminate legal barriers to use technology to enhance check payments."
According to industry analysts, check image exchange is expected to increase significantly over the next few years as paper check volumes continue to decline. Check image exchange provides faster clearing and settlement, reduced float, narrowing the window for check fraud and a significant reduction in the transportation infrastructure needed to move paper checks.
About ECCHO
ECCHO is a not-for-profit national clearinghouse that is owned by its member banks. Formed in 1990, its primary objective is to fill the legal void created by mixing paper checks with electronics such as in the exchange of check images. ECCHO has also been recognized and is supported by many organizations as the national provider of ECP and image exchange rules. Membership in ECCHO is available to every depository financial institution. Current members hold deposits of approximately $2.9 trillion. Additional information about ECCHO can be found at www.eccho.org.
About the Endpoint Exchange Network
The Endpoint Exchange Network enables U.S. financial institutions to clear their check-based transactions by allowing for the exchange of check images between member institutions. The Endpoint Exchange Network is the country's first electronic check-clearing network that capitalizes on existing imaging infrastructure and settlement relationships, with the interoperability to connect to every endpoint in the nation. CheckClear LLC, a Metavante company, operates the Endpoint Exchange Network, www.endpointexchange.com.
About Metavante
Metavante Corporation is a leading provider of image-based check processing and distributed image-capture solutions through its companies, which include the Endpoint Exchange Network, Advanced Financial Solutions (AFS), and VECTORsgi. Metavante delivers banking and payment technologies to financial services firms and businesses worldwide. Metavante products and services drive account processing for deposit, loan and trust systems, image-based and conventional check processing, electronic funds transfer, and electronic presentment and payment. Headquartered in Milwaukee, Metavante (www.metavante.com) is wholly owned by Marshall & Ilsley Corporation (NYSE: MI).
For Further Information Contact:
The Endpoint Exchange Network
Sam Kim
678-533-4861
sam.kim@metavante.com
ECCHO (Electronic Check Clearing House Organization)
David Walker
214-273-3200
dwalker@eccho.org
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December 7, 2004
M&I Marshall& Ilsley Bank Joins Electronic Check Clearing House Organization
December 7, 2004 - Chip Swearngan Metavante Corporation, 414-357-3688 PAUL T. DANOLA JOINS ECCHO BOARD - MILWAUKEE
December 7, 2004 – M&I Marshall & Ilsley Bank (M&I), an affiliate of Marshall & Ilsley Corporation (NYSE: MI), today announced that it has joined the Electronic Check Clearing House Organization (ECCHO), a 14-year-old, non-profit national clearinghouse with the primary objective of supporting the use of technology to enhance the check payment system. Paul T. Danola, Metavante Corporation senior executive vice president and group executive of its Financial Services Group, will represent M&I on the ECCHO board of directors. Metavante is the financial technology subsidiary of Marshall & Ilsley Corporation.
“As a participant in two national check image exchange networks and a provider of related technologies to financial institutions, through our ECCHO membership we look forward to driving adoption of common rule sets and procedures among exchanges,“ said Danola. “An ‘open and interoperable’ environment among exchanges will be a catalyst for financial institutions to realize reductions in check processing costs and an expanded capability to serve customer needs.”
“ECCHO is very pleased with M&I Bank’s decision to join ECCHO,” said David Walker, ECCHO President. “With the passage of Check 21, a key legal constraint has been eliminated freeing a popular legal instrument, the check, to use technology to support its evolution. M&I’s investment in technology companies such as Metavante, VECTORsgi, and Advanced Financial Solutions supports the transition to a more efficient payment system. The use of technology in conjunction with a single set of image exchange rules accelerates the achievement of significant value for all financial institutions.”
Metavante Corporation delivers banking and payment technologies to financial services firms and businesses worldwide. Metavante products and services drive account processing for deposit, loan and trust systems, image-based and conventional check processing, electronic funds transfer, and electronic presentment and payment Headquartered in Milwaukee, Metavante (www.metavante.com) is wholly owned by Marshall & Ilsley Corporation.
ECCHO is a not-for-profit national clearinghouse that is owned by its member banks. Formed in 1990, its primary objective is to fill the legal void created by mixing paper checks with electronics such as in the exchange of check images. ECCHO has also been recognized and is supported by many organizations as the national provider of ECP and image exchange rules. Membership in ECCHO is available to every depository financial institution. Current members hold deposits of approximately $2.9 trillion. Additional information about ECCHO can be found at www.eccho.org.
Marshall & Ilsley Corporation (NYSE: MI) is a diversified financial services corporation headquartered in Milwaukee, Wis., with $39.0 billion in assets. Founded in 1847, M&I Marshall & Ilsley Bank has the largest banking presence in Wisconsin with 196 offices throughout the state. In addition, M&I has 34 locations throughout Arizona; 11 offices in metropolitan Minneapolis/St. Paul, and one location in Duluth. Minn.; Las Vegas, Nev.; and Naples and Bonita Springs, Fla. M&I's Southwest Bank affiliate has six offices in the St. Louis area, and one office in Belleville, Ill. M&I also provides trust and investment management, equipment leasing, mortgage banking, asset-based lending, financial planning, investments and insurance services from offices throughout the country and on the Internet (http://www.mibank.com or http://www.micorp.com). M&I's customer-based approach, internal growth and strategic acquisitions have made M&I a nationally recognized leader in the financial services industry.
For more information about ECCHO, its check electronification vision or membership in ECCHO, please contact David Walker at (866) 440-4709. Also visit ECCHO's web site at www.eccho.org for additional educational information.
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June 11, 2002
Sterling Commerce Endorses ECCHO Initiatives
To Standardize ECP and Image Exchange
Addison, Texas – June 11, 2002 – Sterling Commerce’s Banking Systems Division, a subsidiary of SBC Communications Inc. (NYSE:SBC) and a worldwide leading provider of banking transaction applications, has announced its support for the standardization of electronic check presentment (ECP) and image exchange rules. As a result, it is endorsing efforts undertaken by the Electronic Check Clearing House Organization (ECCHO) to support and provide ECP and image exchange rules in the United States.
“Because of their expertise and reach, ECCHO is certainly the logical organization to establish these much-needed standards,” said William Hymes, President of Sterling Commerce’s Banking Systems Division. “We at Sterling Commerce pledge our full support to ECCHO as they spearhead development of these rules.”
ECCHO is a not-for-profit national clearinghouse that is owned by its member banks. Formed in 1990, its primary objective is the development and promotion of ECP. ECCHO also has been endorsed by the Banking Industry Technology Secretariat (BITS) as the national provider of ECP rules.
“It’s very gratifying to gain the endorsement of Sterling Commerce,” said David Walker, President of ECCHO. “As a major provider of transaction processing solutions, Sterling Commerce’s participation can only help to solidify our position as the ‘de facto’ standards-setter for ECP and image exchange rules.”
Sterling Commerce endorses ECCHO initiatives/add one
Sterling Commerce’s VECTOR Solutions are completely image-enabled and include the industry’s premier check image capture software. For example, Sterling Commerce’s Check Management Solution is a common capture platform for all check image processing requirements. Banks using this solution can perform local or remote prime pass image capture on a variety of hardware platforms; can capture incoming return item images; and image capture and encode the outgoing bank-of-first-deposit items. The VECTOR Check Management Solution also includes an image archive interface, allowing the archiving of images within minutes of capture for viewing via Internet services or enterprise intranet-based applications.
Similarly, Sterling Commerce’s VECTOR ECP Solution is totally image-ready, allowing banks to send and receive image cash letters, as well as view images of an item during ECP reconcilement.
“The VECTOR ECP Solution is the leading ECP solution for the largest U.S. banking institutions,” said Sydney Smith Hicks, vice president, Operations and Business Development, Sterling Commerce Banking Systems Division, and an early board member of ECCHO. “More than 45 percent of today’s ECP items presented through the nation’s primary exchange channel are originated by VECTOR. With image-presentment, the solution becomes even more powerful.”
The ECP Solution also is designed to help facilitate the transition to image exchange. In fact, an interface with the company’s VECTOR Exceptions Solution allows banks to receive and process a file, identify exception items, and process exceptions via image, without paper being exchanged.
“The movement to ECP and image exchange is an evolutionary process, but without standardization, the process is very slow and needlessly expensive,” Hymes said. “We’ve seen that in the past when ACH was just getting off the ground, and again when EDI was introduced. With these past lessons in mind, it’s clear that now is the time for the industry to adopt standards for ECP and image exchange rules, early enough to facilitate broader acceptance of image exchange. That way, banks can realize the cost-reduction benefits associated with image processing over paper handling much more quickly.”
Sterling Commerce’s Banking Systems Division Advances/add two
ECCHO is a not-for-profit national clearinghouse that is owned by its member banks. Formed in 1990, its primary objective is the development and promotion of electronic check presentment (ECP). ECCHO member bank’s holding companies hold deposits of approximately $2.1 trillion. Membership in ECCHO is available to all depository financial institutions regardless of size. Currently ECCHO members include banks whose deposit size is less than $100 million and banks whose deposit size is greater than $350 billion. ECCHO has also been endorsed by the Banking Industry Technology Secretariat (BITS) as the national provider of ECP rules and ECCHO has licensed the use of its rules to the Small Value Payments Company, L.L.C. (SVPCo).
Sterling Commerce is one of the world’s largest providers of business-to-business commerce solutions. For Global 5000 companies and their customers, suppliers and partners, Sterling Commerce software and services help maximize business performance and improve business metrics through integration of applications, external partner systems and people. With more than 30 years of experience serving tens of thousands of customers in a vast range of industries, Sterling Commerce is a recognized pioneer in business-to-business commerce through its longstanding expertise in EDI. The company’s Banking Systems Division provides financial transaction processing, currency control, reconciliation, and e-commerce solutions for financial institutions and their customers, around the world. Today, as customers explore new ways to improve business performance via the Internet, Sterling Commerce continues to innovate its software and services to further the global adoption of e-commerce while offering its customers strategic solutions that leverage existing technology. For more information, visit www.sterlingcommerce.com.
SBC Communications Inc. (www.sbc.com) is one of the world’s leading data, voice and Internet services providers. Through its world-class network and its subsidiaries’ trusted brands – SBC Southwestern Bell, SBC Ameritech, SBC Pacific Bell, SBC Nevada Bell, SBC SNET and Sterling Commerce – SBC companies provide a full range of voice, data, networking and e-business services, as well as directory advertising and publishing. A Fortune 27 company, America’s leading provider of high-speed DSL Internet Access services, and one of the nation’s leading Internet Service Providers, SBC companies currently serve nearly 60 million access lines nationwide. In addition, SBC owns 60 percent of America’s second largest wireless company -- Cingular Wireless -- which serves more than 21 million wireless customers. Internationally, SBC has telecommunications investments in 28 countries.
All products or company names mentioned are used for identification purposes only and may be trademarks of their respective owners.
For more information about ECCHO, its check electronification vision or membership in ECCHO, please contact David Walker at (866) 440-4709. Also visit ECCHO's web site at www.eccho.org for additional educational information.
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December 11, 2000
ECCHO Hires Walker and Meyerson
Dallas, TX, December 11, 2000 - Beginning April 2001, the Electronic Check Clearing House Organization (ECCHO) will enter a new era with its own employees and facilities in Dallas, Texas. During ECCHO's first ten years it has relied on the Carreker Corporation for its facilities, staffing and administration. "With the passage of time and the maturation of the organization, ECCHO has selected this as the time to stand on its own," said William Christensen, Chairman of ECCHO and Executive Vice President, Union Bank of California. The banking industry is moving rapidly to implement check electronification initiatives and ECCHO is providing leadership in the transition to electronic check payments
In 1989 Denny Carreker, Chairman and CEO, Carreker Corporation, lead the initiative that culminated in the creation of ECCHO in 1990. During the first eight years, he served as ECCHO's Executive Director and provided the leadership and vision for the new check electronification initiative know as electronic check presentment (ECP). "Without Denny's early leadership, ECCHO would not have been formed nor would it have been successful", according to John Spencer, Secretary/Treasurer, ECCHO and Executive Vice President, Frost Bank.
ECCHO member banks currently are exchanging approximately 1.5 billion checks a year with a value of approximately $2.3 trillion through ECP processes. In addition to its ECP rules, ECCHO has adopted rules to support check truncation and, in conjunction with the Financial Services Technology Consortium, rules to support electronic checks and check image exchanges.
ECCHO is a not-for-profit national clearinghouse that is owned by its member banks. Formed in 1990, its primary objective is the development and promotion of electronic check presentment (ECP). ECCHO member bank's holding companies hold deposits of approximately $1.7 trillion. Membership in ECCHO is available to all depository financial institutions regardless of size. Currently ECCHO members include banks whose deposit size is less than $100 million and banks whose deposit size is greater than $350 billion. ECCHO has also been endorsed by the Banking Industry Technology Secretariat (BITS) as the national provider of ECP rules and ECCHO has licensed the use of its rules to the Small Value Payments Company, L.L.C. (SVPCo).
For more information about ECCHO, its check electronification vision or membership in ECCHO, please contact David Walker at (866) 440-4709. Also visit ECCHO's web site at www.eccho.org for additional educational information.
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February 24, 1999
Any Bank can Afford ECCHO Membership: Membership Cost as Little as $100 per Year
(Dallas, Texas, February 24, 1999) -- At its regularly scheduled meeting in February, the ECCHO (Electronic Check Clearing House Organization) Board of Directors approved a new membership class allowing banks to join ECCHO for as little as $100 per year. Now any depository financial institution, as defined by the Federal Reserve Act, is eligible to join ECCHO and obtain the protections of ECCHO's rules. The ECCHO Board also selected the Independent Bankers Association of America (IBAA) as an approved sponsor of members under the new membership class.
The ECCHO Board of Directors created a new membership class called Sponsored Member with no initial fee. Other membership classes typically include a one-time initial fee and ongoing dues. While large and small Sponsored Members will pay ongoing dues at the same nominal rate, the actual amount they pay will vary with their deposit sizes. This will remove the financial barrier to membership for even the smallest banks. For example, at the current dues rate, a Sponsored Member with deposits of $2 billion would pay annual dues to ECCHO of $2,200 while a Sponsored Member with $91 million or less in deposits would pay only $100 (the minimum amount).
Banks joining ECCHO as Sponsored Members will work through a sponsoring organization such as the IBAA. For example, those banks that are members of the IBAA that elect to join ECCHO will continue their relationship with the IBAA while gaining ECCHO's rules coverage through their IBAA association.
Through this action, ECCHO took another important step toward the achievement of its vision. That vision includes: 1) working with other industry groups to promote the rapid acceptance and implementation of ECP, 2) providing value to banks through improved earnings on the order of $2-3 billion per year from short-term activities and 3) positioning the banking industry for significant long-term earnings improvement from check electronification.
ECCHO is a not-for-profit national clearinghouse that is owned by its member banks. Formed in 1990, its primary objective is the development and promotion of electronic check presentment (ECP). ECCHO member bank's holding companies hold deposits of approximately $2.4 trillion. ECCHO has also been endorsed by the Banking Industry Technology Secretariat (BITS) as the national provider of ECP rules.
For more information about ECCHO, its check electronification vision or membership in ECCHO, please contact David Walker at (866) 440-4709.
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January 6, 1999
BITS Endorses ECCHO as the Private-sector National-level Rules Making Body for ECP and SVPCo as the Coordination Point for Multi-Lateral ECP for the Banking Industry: Move towards electronification of checks means cost effective, efficient payments
(Washington, DC, January 6, 1999) -- The Banking Industry Technology Secretariat (BITS) today announced its endorsement of the work being done by the Electronic Check Clearing House Organization (ECCHO) and the Small Value Payments Company (SVPCo) to further the use of Electronic Check Presentment (ECP). This is the first in a series of announcements BITS will be making in the weeks ahead concerning its efforts to facilitate the development of open, interoperable, and rules-based electronic commerce and banking in a manner that benefits the banking industry and its customers.
According to Austin Adams, Executive Vice President of First Union, and Co-Chair of the BITS Industry Infrastructure Steering Committee, "BITS' endorsement of the work done by SVPCo and ECCHO represents a significant step forward for the banking industry. This type of collaboration is absolutely critical to our efforts to move the banking industry into the new world of more cost effective and efficient electronic payments -- a world where our customers and our shareholders will profit."
ECP is the forward presentment of check information (MICR line) captured at the collecting institution, and transmitted electronically to the paying institution, with paper to follow. ECP will provide significant savings for the industry in processing costs and will reduce the risk to banks from fraudulent items. BITS member banks are committed to implementing ECP as a first step toward the electronification of the check. BITS would like 50% of available checks processed with ECP by 2001.
The formation of SVPCo will aid significantly in achieving this goal. SVPCo was formed to facilitate the first standardized nationwide electronic exchange of checks. Until recently all ECP exchanges were done under bilateral agreements. Each additional bank that entered the process needed to make separate agreements with each exchange partner. SVPCo has developed the capability to do multilateral clearing and settlements for ECP.
ECCHO, which was formed in 1990, has been a champion for creating a national, standard set of rules for ECP. ECCHO, as a clearing house under the UCC, can modify certain aspects of the law. All parties with an interest in a check are bound by clearing house rules under which a transaction is exchanged. A standard set of rules will allow banks to exchange checks with institutions that belong to separate clearing houses. Earlier this year SVPCo agreed to adopt rules established by ECCHO further enabling the exchange of checks across clearing houses.
BITS recognizes that not all banks can participate in a clearing house and encourages ECCHO to work with the Federal Reserve and private sector organizations to facilitate a method by which all institutions can be covered by a standard set of rules.
The Independent Bankers Association of America (IBAA) is represented on the BITS Board of Directors. IBAA joins BITS in supporting the industry's move to an ECP environment; however, IBAA has not endorsed the ECCHO and SVPCo initiatives at this time, pending further review to determine the implications for small banks. In the meantime, IBAA is working on steps to implement ECP that are appropriate for small banks, assisted by BITS, ECCHO and The Federal Reserve.
The Banking Industry Technology Secretariat (BITS) was created to foster the growth and development of electronic banking and commerce in an open environment that will encourage greater choices in banking software, access devices, and the development of more efficient processing capabilities for the benefit of bank customers. BITS is a division of The Bankers Roundtable, an organization with a membership base of the largest 125 banks in the country.
The Small Value Payments Company L.L.C. (SVPCo) was formed in 1998 by twelve of the largest US banks to facilitate the first standardized nationwide multilateral electronic exchange of checks.
The Independent Bankers Association of America (IBAA) represents 5,500 independent community banks nationwide with more than 15,000 locations that hold nearly $375 billion in insured deposits, $445 billion in assets, and more than $240 billion in loans for consumers, small businesses and farms in communities they serve. Its consumer hotline is (888) 500-5338.
For more information, please contact :
BITS -- Catherine Allen, (202) 289-4322
ECCHO -- David Walker, (866) 440-4709
IBAA -- Viveca Ware, (202) 659-8111
SVPCo -- Hank Farrar, (212) 612-9300
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November 13, 1998
Banks Create Common ECP Rules Through Agreement Between SVPCo & ECCHO: Demonstrates Solid Support for ECP Through Common Rules
(New York and Dallas, November 13, 1998) The Boards of Directors of the Small Value Payments Company L.L.C. (SVPCo) and the Electronic Check Clearing House Organization (ECCHO) have agreed to share a common set of rules governing ECP nationwide. This agreement is the first time ECCHO has licensed its rules to another national organization and represents a significant, cooperative industry effort between a national rules organization and a national provider of ECP services to accelerate the acceptance and implementation of ECP exchanges.
"Members and participants of SVPCo and ECCHO will be able to exchange ECP files across clearinghouse membership boundaries. Thus members and participants of both organizations will benefit from the elimination of silos of rules sets and coverage limited to members of the same clearinghouse", said David Walker, Executive Director, ECCHO. "By licensing these rules, SVPCo moves one step closer to achieving its objective to electronify the check and rapidly create critical mass on a nationwide basis", according to Hank Farrar, Senior Vice President, SVPCo.
Together, ECCHO and SVPCo will create a comprehensive set of rules including a core set of ECP rules with supplemental rules as necessary to support specific product offerings by SVPCo and to accommodate unique geographic requirements. These rules will initially include SVPCo's national net settlement and paper check exchange rules, as well as geographic-specific deadlines for ECP file exchanges, return deadlines, adjustments, etc.
The Small Value Payments Company was created earlier this year by twelve of the largest U.S. banks and the New York Clearing House to facilitate the first standardized nationwide electronic exchange of checks. ECCHO is a national clearinghouse owned by its member banks whose vision is the creation of value through the electronification of the paper check. ECCHO member banks hold approximately 80% of the deposits of the top 100 U.S. banks.
For more information about ECCHO, its check electronification vision or membership in ECCHO, please contact David Walker at (866) 440-4709.
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April 16, 1998
Fleet Expands ECCHO Presence to become Full Member
(DALLAS, April 16, 1998) ECCHO (Electronic Check Clearing House Organization) is pleased to welcome Fleet National Bank as its newest Full Member. "We look forward to Fleet's expanded involvement in ECCHO", says Mr. David Walker, ECCHO's Executive Director. "This upgrade in Fleet's membership from Associate Member to Full Member makes the organization eligible to participate in our Operations Committee and participate on the ECCHO Board of Directors."
According to Hayden Watson, Managing Director of Bank Operations for Fleet, the bank has made a significant commitment to ECP starting with its New York processing center that anticipates beginning ECP production as early as this month. "Also, additional exchanges outside of New York are planned for the near future," he says. "We believe the success of ECP exchanges across a large geographic area requires membership in ECCHO, a national clearinghouse."
ECCHO is also pleased to be renewing its relationship with Mr. Watson. "He provided significant leadership during ECCHO's first six years." Says Mr. Walker. "As a former director and past president of ECCHO, Mr. Watson was a member of the task force that created the ECCHO vision. In addition, he participated in the development of ECCHO's four short-term vision initiatives."
"Becoming a full member of ECCHO appealed to Fleet because of its proven ability to rapidly develop and implement the rules necessary for banks to achieve ECP financial benefits," says Mr. Watson. "Beyond its leadership as the national rules organization, ECCHO has also demonstrated additional value through its support of other organization's projects that complement ECP, such as the FSTC's E-Check project and the Check Truncation project of the Fed/Clearing House Association of the Southwest."
ECCHO is a not-for-profit national clearinghouse that is owned by its member banks. Formed in 1990, its primary objective is the development and promotion of electronic check presentment (ECP). ECCHO's membership includes more than 60 banks. Banks of all sizes may have access to ECCHO rules through the clearinghouse's tiered membership levels.
For more information, please contact David Walker at (866) 440-4709.
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April 15, 1998
ECCHO Appoints New Executive Director
(DALLAS, April 15, 1998) ECCHO (Electronic Check Clearing House Organization) is pleased to announce that David Walker has been appointed to the position of Executive Director. Previously, Mr. Walker served as ECCHO's Managing Director, a position he has held for the past eight years. As Executive Director, he will continue to promote the organization's vision, as well as manage the day-to-day operations.
"By naming Mr. Walker as the Executive Director, we are recognizing his long-term contribution to ECCHO's development, and his selection assures continuity in our activities and direction," says Michael Pasiecki, Chairman of ECCHO and senior vice president of Chase Manhattan Bank. "The value of Mr. Walker's years of experience in banking and data processing, coupled with his ECCHO involvement and broad participation in various industry forums, made him the obvious choice to lead ECCHO."
"I am excited to have the opportunity to directly participate in the sweeping changes being made to the banking industry resulting from the transition from paper checks to electronic transactions," says Mr. Walker. "ECCHO's next critical step is the broad implementation of Electronic Check Presentment (ECP) across our current membership roster and the extension of ECP's value to banks of all sizes."
The position of ECCHO's Executive Director was previously held by Denny Carreker, Chairman and Chief Executive Officer of Carreker-Antinori, Inc., who resigned his position in February. Because of Mr. Carreker's extensive involvement in ECCHO's formation and growth, his knowledge and vision will continue to be tapped by serving as an advisor to ECCHO's executive committee on relationships with BITS (Banking Industry Technology Secretariat) and other industry groups.
ECCHO is a not-for-profit national clearinghouse that is owned by its member banks. Formed in 1990, its primary objective is the development and promotion of electronic check presentment (ECP). ECCHO's membership includes more than 60 banks. Banks of all sizes may have access to ECCHO rules through the clearinghouse's tiered membership levels.
For more information about ECCHO, its check electronification vision or membership in ECCHO, please contact David Walker at (866) 440-4709.
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