KAZ banks on patent

KAZ banks on patent

KAZ Computer Services subsidiary Ausdata and the ANZ Bank have jointly patented a new proof-of-deposit cheque-processing system. The two companies put their collective brains at work on a project to improve Ausdata's existing proof-of-deposit system using the bank's knowledge of cheque processing and Austral's technical capabilities. Sold under the brand name VIPS, the system took 18 months to develop but has already yielded ANZ with a 30 per cent cost saving in its cheque-processing operations. The two companies now plan to market the solution to banks on an international level.

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