CONIX Systems

CONIX Systems Inc. is a world leader in providing payment processing software and related services to the financial services industry. The company's products, in some form, touch or process an estimated 75 billion paper and electronic items each year and handle virtually every aspect of payment processing including work flow management, balancing, branch capture, corporate capture, and electronic check presentment. CONIX software and services are used by the majority of the largest banks in the country. Founded in 1992, the company is headquartered in Manchester, Vt., with offices throughout the United States. For more information about CONIX and its products and services, please contact Frank Stokes, President, Technology Group, at 877-332-1842, email at, or visit the company's Web site at

Phone: 610-347-2214
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Latest Content From CONIX Systems

Whitepaper: Lights Out Exception Processing

by CONIX SystemsFeb 01, 2008

Imagine a totally automated payment-processing environment where fraudulent, duplicate, or erroneous items are corrected (or rejected) before posting. Imagine how happy your customers will be with the error reduction in such an environment. Imagine the costs that could be eliminated. Now compare this to the current system of reconciliation, where mistakes and fraud are detected after the fact, after the customer relationship has been tarnished and the institution is forced to write off unnecessary losses. Finally, imagine this problem being exacerbated by the rapid growth in image exchange. In the future, banks have two clear choices to make with regard to image exchange: 1) Adopt a more proactive process that identifies bad payments before they are posted, or 2) Prepare to deploy additional resources to the reconciliation, research, and correction of these payments as the level of bad items grows in tandem with the level of electronic postings. "'Lights Out' Exception Processing" addresses the first option. Financial institutions can meet this challenge proactively by moving a series of historically Day Two processes (regarding the second day that a payment is in the system) into Day One. These processes can identify payments that cannot or should not be posted or sent before the items post. This would save banks millions of dollars by eliminating reconciliation, research, adjustment, and fraud costs; and eliminate the unproductive use of capital in suspense accounts.

Whitepaper: Taking Control of Payment Duplication

by CONIX SystemsNov 01, 2007

Being duped is never a good thing. This is especially true for financial institutions when the age-old backroom problem, payment duplication, is magnified because of new electronic clearing protocols. In the past, duplicate postings to demand-deposit accounts (DDAs) were a manageable processing anomaly because financial institutions became proficient at minimizing these exceptions in the paper check-based environment. However, times have changed. Payment systems must now deal with automated clearinghouse and lockbox items, as well as image exchanges and IRDs (image replacement documents), following enactment of the Check Clearing for the 21st Century Act (Check 21). There is a significant cost associated with handling duplicates, including the cost to process the duplicate as well as the cost associated with lost revenue and customer dissatisfaction. In addition, there is a revenue potential associated with charging banks that introduce duplicates into the payment system. "Taking Control of Payment Duplication," a white paper from CONIX Systems, explores the growing issue of duplicate payment postings.