VECTORsgi, a transaction processing vendor, and SVPCO, the electronic check processing business of The Clearing House Payments Company in the US, says VECTORsgi has developed software for SVPCO’s Gateway DTA (Distributed Traffic Agent).
The two organisations say Gateway DTA will provide an additional access alternative to make it economically possible for regional and smaller depository financial institutions to send image exchange files through the SVPCO network. This is an expansion of the relationship between the two organizations, which began when VECTORsgi was selected from a field of top technology providers to develop the DTA for national financial institutions and service bureaus to access the national image exchange network.
The SVPCO image exchange network allows financial institutions to exchange image files directly. SVPCO serves as the intermediary where summary information moves allowing for reporting and settlement. The Gateway DTA is ideally suited for lower volume participants such as regional financial institutions and community banks.
The Gateway DTA opens the door for any size financial institution to participate in SVPCO’s image exchange network by providing an additional access method. A single Gateway DTA can provide service to multiple financial institutions, which will reduce the cost incurred by a single financial institution. Unlike the DTA, which would be placed inside each of the participating large financial institutions, the Gateway system will be housed and operated by SVPCO. A Gateway customer will send a single file with a series of cash letters, each of which can be routed to a different destination.
“The Gateway DTA allows us to provide an additional access method to the SVPCO Check Image Exchange and is a great resource for those financial institutions that don’t have a lot of volume,” says Susan Long, senior vice president of SVPCO-Electronic Clearing Services. “This completes our array of access vehicles and now every financial institution will have an opportunity to be a part of our network. We will work with all financial institutions to determine which access choice is best for them, whether through its direct connection with the DTA, a correspondent bank, the shared Gateway DTA option, a third party aggregator node or the Federal Reserve.”