The Silicon Review
“Panini’s goal is to create high quality, innovative and reliable solutions for document digitization in banking and payment system environments”
Every business must deal with its own set of challenges. But arching above them all is a single unifying trend: digital transformation. No matter what issues you’re facing, success will largely depend on how well every aspect of your business adopts digital technology.
Panini offers check capture solutions that help customers fully realize the advantages and efficiencies available with the digital transformation of the paper check. The company’s scalable check capture solutions address the complete range of distributed check processing opportunities, including teller capture, back-counter, remote deposit capture and remittance processing. Panini’s product portfolio provides a complete and scalable foundation for check truncation and payment processing initiatives, delivering superior performance in critical areas such as image quality, MICR reading, document handling, and printed endorsement.
The company has developed an extensive network of value-added resellers, distributors, and software partners that market Panini products worldwide. Partners integrate their software with Panini’s payment processing platforms to create a total solution for clients in the financial services industry.
Panini provides a comprehensive suite of support services to ensure successful implementation of its check scanners and payment processing solutions, and to ensure client return on investment. Services include training, help desk support, project management, implementation services, parts management, depot service and advanced unit exchange.
The company was established in 1945 and is headquartered in Turin, Italy.
The Proliferation of Panini
Antonio Panini established Panini in Torino, Italy as a distributor of office equipment in 1945. Thirty years later, Panini brought innovation to the banking industry, launching a revolutionary image capture system for managing payments documents. In 1980, high-speed reader/sorters were launched and became the standard for the management of checks in major Italian financial institutions; in 1993, with check truncation starting in Italy, new opportunities were created for banks, and Panini responded by developing the S1 mid-size reader/sorters and later the S1 Vision, achieving national leadership and extending its ambitions to international markets. Three years later, Panini North America was founded to bring the company’s check capture expertise to the largest check market in the world. Panini was ready with a small, desktop check scanner in 2004 when legislation was passed in the United States allowing distributed check capture and image clearing by banks, resulting in consistent market leadership recognition and over 1 million check scanners installed today.
The Advantages of Being First
As the first to market in North America with a check scanner suitable for distributed capture and check image exchange, Panini had tremendous interest and successful implementations with the nation’s top Financial Institutions. These early success set the stage for many years of big wins and put the company in a position of trusted, strategic partner with their bank customers – creating a working relationship rooted in innovation for mutual success and growth. The company’s collaborative approach has led them to their latest innovation of intelligent scanner technology, which extends Panini’s distributed capture capabilities to enable real branch transformation and transaction automation while significantly impacting the efficiency and effectiveness of remote deposit deployments.
Stands Out From the Competition
The Panini brand is synonymous with ‘innovative’ – It was founded on andoperates under a core value of continuous innovation. The company holds multiple patents for its critical technology in areas such as image quality, MICR reading, document handling and printing. Among the most important patents they are leveraging today are the capabilities of aligning checks of different sizes both vertically and horizontally to ensure impeccable reading and imaging while avoiding item jams, double-feeds, and misfeeds (something no other competitor can offer).
Panini is also the only manufacturer to provide capture devices that are capable of offering a truly intelligent architecture.
Panini plays an integral role in shaping a digital future by transforming paper and other forms of physical transactions/data into digital format as early in the process as possible with a high degree of efficiency, security, accuracy, and intelligence. The company is currently focused on the security aspects of transactions, the environments where they occur (physical and virtual) and the authenticity of participants, which opens an extensive new horizon of solution possibilities, deeply rooted in its core competencies, and closely connected to customer needs and requirements.
A quick review of the company’s history with extensive and continuous track record of market leading introductions and patents provides excellent evidence of their rate and continuity of innovation.
The Best Way to Predict the Future is to Create it
Market sensing and feedback is a cornerstone of Panini’s innovation process. They feel they continue to be successful because they collaborate with and listen to customers and develop technology based on their needs and the foreseeable future market needs.
Panini EverneXt™ is its newest capture & branch automation platform, a revolutionary new system designed to address the most common barriers in teller capture (environment, operator, and document quality issues) and branch transformation resulting in unparalleled levels of usability and productivity, and enriched by the unprecedented Everest architecture which eliminates the need for complex application program interface (API) architectures, and allows operating system agnostic integration to a variety of host devices via HTTPS protocol. With throughput speed up to 160 documents per minute (DPM) and its onboard intelligence, the EverneXt is designed for the most demanding and time-sensitive capture environments, where it can digitize a wide range of deposit and payment-related documents including checks, stubs, and ID cards, maximizing investment ROI while increasing utilization.
The company has also developed a complementary solution for remote deposit capture. Panini’s mI:Deal check scanner is the practical, smart, and secure solution for cost-effective and reliable deployment in a wide range of application options (wired or wireless, desktop PC/Mac/tablet/smartphone/POS terminal…) with comprehensive Check 21 compliance and minimized integration effort.
Panini is leveraging its company’s strengths to move in the direction of security solutions for transactions involving monetary or sensitive data exchange, environments where these transactions occur and the authenticity of transaction participants. Panini’s existing core capabilities including check capture solutions, customer support and professional services, and image and device optimization applications are being leveraged and will be integral to its strategic direction.
Michael Pratt: A Brief Background
Panini’s CEO is responsible for the overall development and implementation of Panini’s global corporate strategy. With more than 20 years of professional experience, including executive leadership positions at AT&T, NCR, and Standard Register, Michael is widely considered a respected and trusted authority in the banking and payments industries including distributed check capture.