Check Imaging Services:

Check 21 has opened a world of next generation service technologies to meet an institution’s item and image processing needs. Today’s institutions can benefit from integrated images, communications and printing systems. With all processes performed under one roof, financial institutions can work with a single source for state-of-the-art solutions that deliver end-to-end item processing services at a lower net cost.

The following describes the key components of today’s check image processing services:

Branch Capture

The days of microfilm research are rapidly coming to an end. Financial institutions can run their deposited checks through an image capture device in the branch. These systems typically feed an image warehouse at the branch which can retain the check information for years.

Branch capture devices are an important first step for image processing, but without an outbound image connection, the institution is limited to local research functions. For image-based collection services as well as institution-wide research capabilities, see the text below.

Image Exchange – Outgoing and Inclearing

Instead of collecting paper checks and transporting them via courier to a third party for collection, financial institutions can scan the checks and transmit their images for balancing and collection. Likewise, institutions can receive image inclearing cash letters for payment. In the process, the institutions gain dramatic efficiencies such as:

• Elimination of holdover with a corresponding increase in the next day availability of funds. Teller balancing is greatly simplified and research is significantly enhanced through institution-wide access to deposited images as they are captured
• Improved protections against check fraud through advanced detection techniques and speed
• Reduction in check collection fees by as much as 50% through elimination of courier and more favorable pricing by meeting early cutoffs, regardless of weather or traffic
• Faster posting of inclearing items since mechanical sorting is no longer necessary
• More thorough returns processing since exception items are automatically segregated from the posted items and prepared for return to the depositing institution
• Reworked operations models throughout the institution – image exchange improves every process in the institution that involves checks.

COCC’s image experts can help financial institutions determine the precise advantages of these changes by defining their image processing workflow, reviewing their hardware and software options, and developing a thorough financial analysis based on field experience.

Statement Production

Today’s financial institutions can choose between paper and electronic statements, with check or paper images included. eStatements are available through Digital Document Delivery.

Paper image statements can be printed with different size check images on each page to accommodate customer readability concerns. Complete rendering and mailing services are available as well with marketing message and stuffer options to support sales campaigns.

For more information, please click here.