After 4 months' trial, Westpac Trust in New Zealand will process between 300,000 and 400,000 cheques a night by scanning and storing their images.
The processing system, ImageMark, is supplied by NCR and will host digital images of cheques and other financial deposit documents locally in five NZ cities by mid-2000.
Using the service, the New Zealand based financial institution expects to eliminate the need to process and store around 110 million paper documents a year.
Additionally, the service will allow Westpac Trust to digitally track stolen or lost cheques, as well as checking lodgment details of other items banked by a customer.
Westpac Trust has already installed the system in Dunedin and Hamilton and will have installed systems in Christchurch, Wellington and Auckland by mid-2000.
The same NCR program is used by BNZ, National Australia Bank and ASB Bank.