Myriad Systems provides modern banking techniques with the Web
Myriad Systems provides modern banking techniques with the Web

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By Debbie Blossom

Published: July 18, 2008

The latest Web-based innovations developed by Myriad Systems Inc. were unveiled Thursday during a daylong conference for customers, vendors and experts in the financial services industry.

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The third annual MSI Customer Conference, "Riding the Digital Wave,” at the downtown Sheraton Hotel brought clients up to speed on growth at the Oklahoma City-based company that provides printing and mailing, online document delivery and item processing solutions for financial institutions.

The company also used the conference to introduce two new advancements — MSI Mobile Statements and MSI Expediated Payments.

With MSI Mobile Statements, customers of banks who obtain the service can receive miniaturized versions of their bank statements on their cell phones, said Jeff Vetterick, MSI's executive vice president of marketing.

Other banking solutions

The service goes beyond just checking an account balance, Vetterick said. Consumers whose banks enroll in the plan will be able to access the same account histories that are available on their bank's Web site.

Also ready to kick off in the next week is a new software application that allows for overnight delivery of electronic bill payments for customers of financial institutions that use MSI's Web-based banking software. The service creates a FedEx label and automatically prints and stuffs an envelope. Users are sent a tracking number and a link to follow the payment.

The process — which will be available to 1,200 banks — is expedited by an onsite post office.

All the software innovations were enough to entice MidFirst banker Jerold Sinkula to attend.

MidFirst Bank is already an MSI client, but Sinkula, an assistant vice president, came to look into what other banking solutions the company can offer. "We use MSI for disaster recovery services, and we came today to see what others might be applicable to us,” he said.

Experiencing growth

Henry Hoffman staffed a table in a vendor exhibit area to show off the latest compact scanner from Unisys that processes the information on paper checks into online images.

"MSI has the software solutions that connect to this scanner,” Hoffman explained, and Unisys makes the hardware. "We're here to compliment MSI.”

MSI's client base has grown from 68 in 2006 to 103 this year, and the company is projected to grow by 20 percent next year, President and Chief Operating Officer Shaun Riney said.

New printers, expanded warehouse space, a focus on a national sales presence and its new products are all fueling the company's future, Riney said. MSI is promoting a "software as a service” platform that updates and improves customer's software immediately so they don't have to.

"Here's this state-of-the-art technology in the banking industry, right here, and it's the next trend in banking,” Vetterick said.

"Here's this state-of-the-art technology in the banking industry, right here, and it's the next trend in banking.”

Jeff Vetterick, MSI executive vice president of marketing

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