ProServe Bermuda Ltd., set up as a joint venture between Bermuda's tworetail banks, is looking to sell its document processing services to other companies.

The company was established as a costs savings measure by the Bank of Bermuda Ltd. and the Bank of N.T. Butterfield and Son Ltd. to perform non-strategic functions, including document processing.

Currently ProServe's $1.2 million worth of document processing and imaging equipment handles between 31,000 to 54,000 cheques a day generated by the banks' customers.

ProServe general manager Horst Finkbeiner II yesterday said even with that kind of volume the company still had capacity to expand its client base. The equipment electronically reads, sorts and stores information from cheques, transaction slips and other paper sources.

"We operate completely separately from the banks,'' Mr. Finkbeiner said. "We have to develop products and generate a profit.'' He said the facility, located on the second floor of the Bank of Butterfield's Rosebank offices, would offer out sourcing document processing services to financial firms, insurance companies, Government, and those in the retail and communications sectors.

"We are investigating such business areas as high volume item processing for larger documents such as eight-and-a-half by 11 pages and also statement rendering which would include the printing, insertion and distribution of statements or bills,'' he said. "Although our primary function is to service the non-strategic processing needs of the banks, a lot of what we do for the banks can also help other companies and we can bring them economies of scale.'' The company has 11 full-time staff and 20 part-time staff.