SPIN back office conversion technology by Solutran lowers depository fees, speeds funds availability for Kwik Trip.
Kwik Trip Inc., which operates 415 locations in Minnesota, Iowa and Wisconsin, has completed its rollout of SPIN, Solutran
Inc.’s POS and Imaging Network solution for electronic check conversion.
Following SPIN implementation, Kwik Trip has reported lower depository fees, faster funds availability, and access to original check images for research.
“We’re pleased Kwik Trip is already experiencing the benefits of SPIN technology,” said Barry Nordstrand, Solutran CEO. “SPIN has saved a variety of retail businesses more than 50% in check processing fees. It provides an ideal solution for retailers looking for cost-reduction and easy implementation without sacrificing accuracy and efficiency.”
“Solutran led the project,” said Angela Newman, NSF collections manager of Kwik Trip. “They worked closely with our IT group, assisting them with questions and defining the technical specifications. It was easy to implement in the store because minimal changes were needed.”
Used in over 12,500 retail locations, SPIN can be implemented without up-front capital expenditures. Unlike traditional BOC (Back Office Conversion), the check imaging, archiving, and destruction services are outsourced to Solutran – and MICR data capture uses existing infrastructure.
