TORONTO, March 1 /CNW/ - Symcor announced today that it has signed a
seven-year agreement to provide wholesale lockbox services for the corporate
and institutional clients of Harris, and its investment and corporate banking
affiliate, BMO Capital Markets. The agreement is effective May 1, 2007.
Under the terms of the agreement, Symcor will provide BMO Capital Markets
and Harris with wholesale lockbox services, including check and document
imaging, remittance data entry processing, and reporting services. In
addition, approximately 300 Harris employees who perform these services from
locations in Chicago, Los Angeles and Atlanta will transition to Symcor on
May 1, 2007.
"We are excited about this opportunity as it represents a major milestone
in executing our growth strategy in the U.S.," said, Ed Kilroy, Symcor's Chief
Executive Officer. "We're looking forward to welcoming Harris employees to the
Symcor team. The work they perform is our core strength and vital to our
commitment to growing the business."
"Exceptional customer service is the cornerstone of our organization, and
that is why we are pleased to work with Symcor," said Tom Kesman, Senior Vice
President, Product Operations US, Harris. "Symcor's well-earned reputation for
best-in-class service and innovative new technologies will ensure that our
clients receive the very best in wholesale lockbox service, both now and in
the future," added Marnie Kinsley, Executive Managing Director, Global Cash
Management Services, BMO Capital Markets.
By selecting Symcor, Harris can offer clients enhanced features and
functionality for their remittance processing services made possible by the
"front end" imaging of all items (checks, invoices, envelopes and documents),
and allowing the system to determine the information required to complete each
transaction. Online exceptions management allows clients the ability to make
immediate online decisions to process or reject exceptions transactions.
"Symcor's flexible remittance processing platform technology will provide
Harris with greater image enablement of their lockbox processing and superior
quality controls," said Mike Thomas, Senior Vice President and General
Manager, Symcor USA.
Symcor's larger geographic footprint enables BMO Capital Markets to
immediately expand its cash management services to additional locations and
will further assist its clients to optimize collections as the remittance
processing business changes due to the forces of Check 21.
As one of North America's largest business process outsourcing companies,
Symcor Inc. provides services designed to transform and enhance its customers'
businesses. It is an industry leader in physical and electronic check
processing, payment processing, statement production and document management.
For more information, please visit www.symcor.com.
About Harris and BMO Capital Markets
Harris is an integrated financial service organization providing more
than 1 million personal, business and corporate clients with banking, lending,
investing and wealth management solutions. The organization is a member of the
BMO Financial Group (NYSE, TSX: BMO), which also provides corporate and
investment banking services in the U.S. under the BMO Capital Markets name.
BMO Capital Markets is a leading full-service North American financial
services provider, offering corporate, institutional and government clients'
access to a complete range of investment and corporate banking products and
For further information:
For further information: Sandra de Souza, Manager, Communications,
Symcor, (905) 273-1096, email@example.com; Patrick O'Herlihy, Senior
Manager, Corporate Communications, Harris N.A., (312) 293-8905,