Check-reading innovation

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Check-reading innovation - rela in to has Prudential been and engineer...
rela in to has Prudential been and engineer com- com- TODAY IN BUSINESS Check LI Bottleneck Is Broken : A operations as Perry manager i V ' f Li BY KENNETH ,A. THOMPSON Free Prat Botlnm W riter Burroughs Corp. Wednesday boasted a "major breakthrough" for the automatic handling of checks by the nation's banks. This involves an estimated 12 billion checks which will be written by Americans this year and the multiple handling they require. For American check writers, this development development brings closer the day when all will have personalized checks. Burroughs unveiled the fastest card, slip and checker sorter yet developed, an electronic electronic machine that will read characters imprinted imprinted on "documents" in magnetic ink. The machine employs the system now cleared by Your Name in Magnetic-Ink Magnetic-Ink Magnetic-Ink Check Code the American Bankers Association for a "common language" on checks. The new machine sorts Items at a speed of 1,560 a minute, twice as fast as the only competing machine yet announced and 50 per cent faster than rival card sorters. Ray Eppert, Burroughs president, said th machine, which is ready for production at the company's Plymouth plant, gave Burroughs Burroughs "the only complete line of automated equipment for banks." It is "the long awaited go-ahead go-ahead go-ahead for imprinting and coding of checks," which has been the major barrier to automation of banking's biggest "bottleneck," he said. TWO OTHER vital units for use in conjunction conjunction with the sorter also were unveiled, an imprinting machine and a printer of amounts and account numbers. Both are needed to print numbers and symbols in magnetic ink on checks and other items, providing the "trigger" for bank automation automation systems. The new sorter supplants a flourescent automatic sorter developed by Burroughs four years ago and put in use by some banks. Eppert also announced the organization of a new Burroughs financial sales department charged with helping banks and business concerns concerns to put the magnetic ink principle in operation in the nation. be

Clipped from
  1. Detroit Free Press,
  2. 12 Mar 1959, Thu,
  3. Page 38

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  • Check-reading innovation

    smithern – 01 Sep 2017

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