Item Control Processing with Check 21

We would like to introduce you to our ICPS electronic check presentment solution. No doubt you are well aware of the Check Truncation Act also known as Check21 or Checking for the Twenty First Century. Did you know that the following benefits could result from positioning your institution to take advantage of Check21’s electronic check presentment solutions?

• First and foremost, the impact on float and funds availability significantly improves investment opportunities for your financial institution.

• Customer service can be improved through later daily work cutoffs. There is no need to end your day’s processing at 3 p.m. or earlier, to meet presentment deadlines.

• Research capability can be enhanced at a reduced cost. Immediately available images negate the need for microfilm. Resolution of out-of-balance situations and customer research efforts are improved through immediate image retrieval. And, images can be exported to other programs, such as secured Internet banking systems for access by your customers.

• Statement production can be streamlined. Over-the-counter OnUs transactions can be married to inclearings images for production of a comprehensive customer statement without the handling and transportation of checks.

How can DFG help you prepare to take advantage of Check21?

Document Fulfillment Group Inc. provides low cost imaging solutions that can be deployed to take advantage of the benefits Check21 will bring to the financial industry.

Our Item Control Processing System (ICPS) is a low-cost high-quality solution that captures check images and MICR detail for electronic check presentment. The ICPS solution supports low volume, low cost check readers that capture check images at the teller, branch, back office, or centralized processing center.

With ICPS, deposit and cashed items (including OnUs) are scanned in one pass creating an image archive for research and reconstruction purposes, and an electronic file for check presentment. OnUs images can be combined with inclearings to provide full imaged statements without the hassle or cost of transporting paper back and forth between your branches, inclearings processor, and statement producer.

ICPS utilizes a powerful ICR (Intelligent Character Recognition) engine for scanning accuracy, and incorporates a sophisticated repair and adjustment feature. The program’s powerful search, export and compatibility protocols provide unique capabilities to interface with back-end accounting systems at little or no customization costs.

Simplify your operations and enhance your product offerings.

In addition to positioning your company to take advantage of improved check presentment and collection efforts, ICPS can simplify your branch and back office operations in the following ways:

• Eliminate handling and transportation of paper items
• Eliminate check encoding
• Built in balancing features simplify accounting functions
• Detail can be captured and uploaded to general ledger or other accounting systems
• Immediate access to check and document images from any location with LAN access – ability to export images to internal or external Image Archives
• Ability to reproduce high quality “substitute originals” if required

ICPS can position your financial institution to take advantage of new business opportunities:

• Image Character Recognition (ICR) features can be used to offer low volume Lockbox services to your business base. Checks are balanced to stubs. Out-of-balance or non-matched items are identified and routed for adjustment correction. Accounting detail may be uploaded to client reporting software or other accounting programs.

• Accounts receivable item conversion programs are available for your merchants. Using Item Conversion Plus (ICP) or Item Conversion Standard (ICS) programs, your merchants convert checks to ACH formatted transactions or image check items, generate a deposit cash letter, and upload payment information to their accounts receivable system and to your institution for credit to their account.

• You can leverage your investment in an ICPS solution by providing image capture to other financial intermediaries (check cashing businesses), or smaller low-volume financial institutions.

>> CLICK HERE FOR WHITE PAPERS <<

For a Diagram of the Branch Image Capture process, CLICK HERE.

For a Diagram of the Image Exchange process, CLICK HERE.