FOR IMMEDIATE RELEASE:
Archive DocuLogic Improves Process Efficiencies and Reduces Expenses
Fairfield, NJ (July, 2004) - Archive Systems, Inc., a leading provider of
web-based hosted document imaging, workflow automation and record storage services, announces it has recently
contracted with New South Federal Savings Bank to provide its unique combination of hosted document management
solutions to help New South Federal streamline its business processes. Archive Systems is initially deployed
within Mortgage Operations, although the Archive Systems solution will address enterprise-wide document management
concerns throughout the bank.
New South Federal Saving Bank, with headquarters in Birmingham, AL,
operates 40 loan production offices in 13 states. The bank had evaluated various options
for document imaging and workflow automation with the intent on providing authorized New
South Federal staff with secure, desktop access to documents based on their role within
the bank. In addition, New South Federal sought to provide designated investors,
wholesalers and other authorized 3rd party entities with web-based access to images and
information pertinent to their business relationship with the bank. After researching
options for document management solutions, New South Federal Savings Bank selected
Archive Systems to deliver comprehensive Web-based image hosting, including high-volume
document conversion services.
According to David Cole, New South Federal Savings Bank’s Senior Vice
President for Technology, Marketing and Deposit Services, "the ASPEN 360 service
will enable us to improve process efficiencies throughout the bank while reducing expenses
and enabling growth. Our Mortgage Operations area represents the largest potential for
efficiency gains and will be the initial focus of the document management project.
However, our overall plan calls for ASPEN 360 to be deployed throughout the
bank in order to address our enterprise-wide document management requirements."
About New South Federal Savings Bank
Founded in 1985, New South Federal Savings Bank operates 40 loan production offices
located in 13 states, and one full-service deposit branch office in Birmingham, Alabama.
New South is the largest thrift and the seventh largest depository institution, based on
asset size, headquartered in the state of Alabama. New South's operations principally
involve residential mortgage, automobile, residential construction, and manufactured
housing lending.
About Archive Systems, Inc.
Archive Systems, Inc. flagship solution, ASPEN 360 Accounts Payable Edition, combines best practices AP Automation with ZeroTouch AP imaging and workflow. The product increases efficiencies and reduces costs with features such as straight through processing, which uses automated three-way matching to auto match invoices to PO and receipt line items without AP processor intervention. It includes the ASPEN 360 Invoice Virtualization Center, which removes from the client all tasks associated with document imaging, data capture, document classification, indexing, and OCR. The company also provides physical records management services such as business records storage, document shredding, and offsite data storage, through a number of Record Center locations. For more information, please visit www.archivesystems.com.
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