Extending the benefits of the new Check Image Truncation process (CIT) to Italian businesses
In the coming days, Panini S.p.A., a global payments technology leader, will be present at the second edition of Payvolution – Il Salone dei Pagamenti Conference, an initiative of ABI (Italian Banking Association) and ABIServizi. Payvolution is the first Italian conference & expo dedicated entirely to payment innovation and to the increasingly popular theme of cashless transactions.
“With the imminent implementation of legislation on image-based cheque clearing in Italy, we consider Payvolution to be a unique opportunity to evangelize as broad an audience as possible on the benefits of th new process.”, said Francesco Grasso, Corporate Marketing Manager. “We look forward to discuss the needs for greater efficiency and savings with banks and their business clients, and to explain how Panini can respond by helping them radically modernize the management of a payment instrument which remains relevant and widespread in B2B.”
Panini is seizing the opportunity of the Check Image Truncation (CIT) project – which starting in 2018 will allow the check’s scanned image to legally replace the paper document – to offer banks the opportunity to outsource their corporate customers’ deposit operations by using Remote Deposit Capture. This service, as demonstrated by over a decade of international experience, offers tangible benefits to both parties as well as to the environment, by eliminating a trip to the bank branch that way too often takes place solely to deposit checks, given that the vast majority of transactions have been made available via online banking for quite some time.
On this occasion, Panini will present their complete “I:RDC" solution in their booth - a software module to be integrated into new or existing online corporate banking platforms, which are extended to processing physical document at the customer’s premises in total security. Thanks to I:RDC, which can also be installed as a stand-alone package, businesses may deposite checks on their bank account online, by using a specialized scanner, and later monitored all the way to completion – similar to what they do with an online wire transfer or a tax form payment.
Bancaforte magazine VIDEO INTERVIEW with Raffaela Pini - Sales Account Manager Europe - explaining the benefits of I:RDC for Banks and Businesses (2016 edition, in Italian).
The check scanner offered by Panini with I:RDC takes care of all the security elements introduced by the new ABI standard check format (Datamatrix 2D barcode, CMC7 magnetic codeline, micro-perforated data string), using an exclusive ultrasound-based system, alongside with the advanced image capture and decoding technology which have made Panini products successful worldwide.
Payvolution will be in Milan - MiCo Milano Congressi, Gate 14, November 22 to 24, 2017. Panini’s booth is no. S 08.
Founded in Turin, Italy, Panini has enabled clients to capitalize on shifts in the global payments processing market for over seventy years. Panini has a rich history of technology innovation, leveraging the company’s expertise in research & development. Panini offers check capture solutions that enable customers to fully realize the advantages and efficiencies available with the digital transformation of the paper check, resulting in the world’s largest deployed base of check capture systems, now exceeding one million devices. Panini’s scalable solutions address the complete range of distributed check processing opportunities including teller capture, back-counter capture, remote deposit capture and remittance processing. The company provides solutions on a global basis, and has direct subsidiary operations in the United States covering North America and in Brazil covering Latin American markets.For more information visit: www.panini.com.