Applications

Branch Capture

Compact, robust, low cost check scanners with the ability to capture digital images and the MICR line, have enabled Financial Institutions to fully capitalize on Check 21. Checks are captured at the teller window, back counter, or both. The images and MICR data are then electronically transmitted to the processing center. Recognition engines such as CAR/LAR that allow for automatic data entry can also be applied at the branch to allow for faster overall transaction times and fraud reduction.

Data captured at the earliest point of presentment allows a Financial Institution to realize significant benefits including operational cost reduction, transportation savings, elimination of redundant processes, fraud reduction, reduction in transaction errors, earlier processing, smoothed workflow and staffing expense, transaction time reduction, customer retention, and creation of new market opportunities.

Remote Deposit Capture

Commercial clients of the bank can utilize compact, yet robust check scanners to capture a digital image of their check deposits at their office location(s). The MICR line and check images are archived for storage and retrieval purposes, and are transmitted via secure software and network connections to the bank for processing.

Commercial companies have recognized the tremendous efficiencies associated with transitioning from paper-based check deposit processes to a corporate capture solution. This includes streamlined deposit processes, reduced transportation costs, and earlier funds availability. Financial institutions that package and offer these digital conversion solutions to their commercial accounts will gain substantial market share and lower operational costs.

Cash Vault

As an added convenience to corporate customers, many banks provide the option of sending their checks along with their cash to a central bank location referred to as a cash vault. Because the cash vault deals with large deposits from corporate customers, there is a high volume of checks that need to be processed. Typically banks will physically transport the checks via commercial couriers and direct them to the nearest bank operations center.

By placing a robust check scanner with read/sort capability in the cash vault, it is possible to image and balance the checks that are presented at the cash vault. This allows for a reduction in transportation costs, errors, and enables faster and more reliable customer service.

Exception Returns

As more banks are imaging checks at the operations center, issues are occurring with processing checks on high speed sorters including unacceptable image quality, inaccurate MICR code lines, and additional data entry requirements. All checks with errors need to be reprocessed, and the cost to run this low volume through the high speed sorters is very high.

With a compact, low speed image capture device, it is possible to off-load these low volume transactions and process them with a device that provides appropriate price-performance, reducing the cost of processing exception returns while allowing high speed reader sorters to be utilized for higher volume applications.

Microfilm Replacement

Traditionally, banks have placed microfilm devices in branch offices to capture checks for archiving purposes. Unfortunately, the checks captured on microfilm cannot be accessed for several days while the film is being processed. When the film is returned to the bank, there is often a high rate of poor image quality, and checks with errors may have already been distributed for processing, resulting in costly downstream correction.

With check imaging, the bank uses compact, low cost check scanners in branch offices, making it is possible to capture checks and view them immediately. This allows banks to reduce fraud while responding faster and more accurately to their customers. Many banks are also placing their digital check images on CD’s for distribution, or may use the images for customer image statements.

Image Proof of Deposit (POD)

Manual data entry for proof of deposit is high volume work that is becoming more costly due to increasing employment costs. In addition, the time sensitive nature of POD work may require night shift staff, which further increases expenses.

Using a robust tabletop reader sorter to image checks and deposit slips can automate this process, while lowering costs and increasing accuracy. The captured images can be used for reject repair, amount encode, and data completion services. Additionally, the bank has the ability to store all of their on-us items in-house for customer service and image statements.

Remittance Processing

Payment receipts (remittance slips) accompanied by the actual check payment are a common form of payment among many industries including insurance, government, utilities, and mail order in which large volumes of check payments must be processed on a regular basis. The image of the remittance slips and checks are captured and used for processing of the transaction.

The processing centers perform image recognition tests such as CAR/LAR, MICR, barcode, or optical character recognition (OCR) to automate expensive and error prone data entry. Using a tabletop check scanner also provides the ability to automate debit/credit balancing of the transaction by encoding the amount on each check. Additional capabilities include the creation of the transaction audit trail, generation of a check listing as required by the bank, and capture of a digital image of the transaction for archival purposes. This represents significant opportunities for reduction of operational costs and transaction errors while creating capabilities for faster and more accurate customer service.

Distributed Capture

Even in today's world of mobile banking, online bill pay, and paperless billing, there are still a large number of consumers who pay their bills the "old fashioned" ways – walking into the biller's local office or mailing to a remote lock box location. This process of handling checks and related payment documents at a distributed or remote office and then sending to a centralized location for processing is a very costly one, and often results in lost or misdirected payments. Consequences include increased customer service center call volumes and reduced customer satisfaction.

A multi–format capture device helps eliminate these issues. These devices image both checks, and full-size documents to enable capture of all payments data including coupons, envelopes, correspondence, invoices, or other documents related to the customer payment transaction. All documents are imaged on the same device, allowing an efficient way of handling important accounts receivable information.

A cost effective, multi–format capture device can help automate the process and assist in more accurately applying payment information to the correct customer account, to expedite accounts receivables, while minimizing the number of posting files.

COMMON DISTRIBUTED CAPTURE PAYMENT ENVIRONMENTS

Branch Platform/Sales Desk

Opening a new account or beginning the loan origination process typically requires several supporting documents, and is often a very tedious process.

Branch Platform Desk/Sales associates are not only responsible for spending value added time with their customers but also for accurately scanning check and new account and/or loan application documents from the business they close. With true, multi–document format capture capability, and integration with existing imaging applications, one device can capture high quality images for quick routing to the processing center. Scanning documents earlier in the presentment process yields results in the areas of improved productivity and efficiency, putting the focus back on the customer. Banks can immediately offer a differentiated customer experience while closing the business faster.

A cost effective, multi–format capture device can sit right on the branch sales employee’s desk, eliminating the need to leave the customer alone in their office to walk over to a Branch scanner or MFP. These valuable minutes can yield positive results in customer relationship building and an improved service experience, which means greater customer loyalty and repeat business.

TYPICAL REQUIRED “PAPER” DOCUMENTS