PRESS:

Fairfax Imaging awarded contract for Remittance Processing System by West Virginia State Treasurer's Office

TAMPA, FLORIDA, APRIL 2008 – The West Virginia State Treasurer’s Office (WVSTO) has awarded Fairfax Imaging, Inc. a contract to develop and maintain a full featured remittance and forms processing solution. The system must process a variety of payment items and their accompanying documents. Fairfax Imaging will be the prime contractor for this project and will provide the development and integration for the entire solution. 

Fairfax Imaging will install its award winning imaging and data-capture platform Quick Modules, which is scalable and can be tailored to meet the WVSTO’s requirements.

 “The key elements of this solution must address not only a wide variety of payment items, but must satisfy unique storage, retrieval and legal requirements as well,” said Steve Chahal, Chief Operating Officer of Fairfax Imaging.  “Quick Modules’ versatility enables the Fairfax Imaging team to tailor our solution to meet these kinds of intricate business rules without adversely altering Quick Modules core software functionality.”

By combining the latest in recognition technologies including OCR, ICR, and CAR/LAR, with well thought out, state-of-the-art data and image storage appliances, Quick Modules enables WVSTO to streamline its operations, increase the productivity of its labor force and take on new customers with confidence. 

The WVSTO processes remittances for several customers in the state of West Virginia. Some of these customers have stringent requirements for how their data must be stored.  Others must meet legal requirements for retention and permanent storage that includes optical write-once-read-many (WORM) capability.  Finally, WVSTO must be able to retrieve optical WORM data in under five seconds.

“The WVSTO is charged with some of the most mission-critical and visible responsibilities of any State agency. To fully support these responsibilities, WVSTO must be on par with other such financial institutions in the government and private sectors,” Said Bill Merritts, VP Government Sales, Fairfax Imaging.

Such financial agencies require that electronic processing functions be backed up and secured with the latest proven architectures for storage, networking, and overall security of the system. To support these requirements, these architectural elements have been designed to secure the system and provide reliable recovery.

Fairfax Imaging assures the storage requirements by providing the Plasmon (LSE:PLM) optical storage device which will accommodate the WORM storage needs, meet the data and image retrieval speeds and satisfy State and Federal legal requirements for retention and image presentation.  When the Plasmon optical storage appliance is stored at a separate facility, it can also provide the security and convenience of automated off-site backup and recovery. Fairfax Imaging, will accomplish the necessary throughput volume by providing OPEX Omation mail openers and IBML and NCR (NYSE:NCR) scanner transports along with multiple high-end Dell (NasdaqGS:DELL) servers clustered for redundancy.

The Fairfax Imaging solution will be able to process both remittance and full-page processing with the same suite of software. The solution will provide many options to WVSTO in terms of processing; for instance integrating the functionality of Accounts Receivable Check (ARC) and Check 21 to achieve the most economic and efficient use of both approaches.

Fairfax Imaging’s solution provides the WVSTO with a methodology combining ARC processing with Quick Modules’ well established Check 21 capability. For ARC processing, Quick Modules will incorporate US Dataworks’ (AMEX:UDW) ClearingWorks® product. US Dataworks is a leader in the ARC processing industry. The resulting solution captures an image of both sides of each check in a single pass operation.  For those items that cannot be processed using ARC, Check 21 creates an x9.37 file to hold the cash letter and images of checks to be deposited. Quick Modules then transmits the file electronically to WVSTO’s financial institutions. Both of these processes streamline the WVSTO operation, returning faster, more accurate deposits and eliminating the cost and time to ship paper checks to the bank for processing.

About Fairfax Imaging, Inc.

Headquartered in Tampa, Florida, Fairfax Imaging, Inc. provides state of the art forms and financial document imaging and processing solutions. Established in 1994 with offices in Alabama, California, Illinois, Maryland, Tennessee, Texas and Virginia, Fairfax Imaging developed its own processing software Quick Modules. Quick Modules, offers the industry a highly successful and award winning forms and remittance processing solution. Currently Quick Modules’ systems process billions of dollars in payment items and millions of transactions per day; across many industries, both government and commercial.

Web site: www.fairfaximaging.com.

SOURCE: Fairfax Imaging, Inc.

1-703-802-1220

Steve Chahal, President & COO, schahal@fairfaximaging.com  

Michael D. Minter, VP of Sales and Marketing, mminter@fairfaximaging.com

William D. Merritts, VP of Government Sales, bmerritts@fairfaximaging.com