The introduction of an accelerated cheque clearing service, based on the transfer of images and data, provides banks, building societies, corporates, SME’s and personal cheque users with the opportunity to apply proven image-based technology to their cheque deposits.
Cheque users will still write paper cheques as they do now, but if they receive cheques then, depending on their individual bank or building society, they may be offered new ways of paying them into their bank or building society account. It will still be possible to pay cheques in at a branch counter just as now. An image of the cheque will be created by the bank or building society when the cheque is paid in and it will be this image that will be exchanged electronically through the new cheque image clearing system between the relevant banks and building societies.
Additionally, if the customer’s bank or building society offers this service, as a personal or small business customer, it is possible to image cheques received using a secure imaging tool on a mobile banking app via a mobile phone or tablet and then upload the images for paying in and processing by the bank or building society.
For larger corporate or charity customers, the banks may offer a scanning facility typically using a desktop cheque scanner so that large numbers of cheques are scanned to create images, which are then uploaded to online bank for processing.
The TALL Group is at the forefront of this cheque scanning or cheque imaging initiative, enabling existing and new customers to fully understand, and then implement the relevant software application and cheque scanning hardware to take full advantage of the reduced clearing cycle and remote deposit capture facilities made available by their bank.
Image Survivable Features (ISF’s)
In addtion, the TALL Group is leading the way in the development and introduction of Image Survivable Features (ISF’s). The addition of ISF’s onto the face of a cheque can greatly help with fraud prevention and ISF’s are becoming more readily available. Such features enable the cheque data to be captured and encrypted within a unique coded number (UCN) or barcode that can be applied to the original paper cheque, thereby ensuring the validation of the item when the image is scanned within the new Image Clearing System (ICS). Counterfeit items and fraudulently altered items can then be readily identified.
Banking Assistant is a cheque and cash deposit management system that supports customers receiving cheque payments, (and wishing to deposit cheques remotely, depending on the individual bank or building society).
It combines a desktop cheque scanner to capture the image and details from the cheques with comprehensive software that uses this data to:
- Create and balance your batch for banking
- Generate a searchable archive of cheque data and images for the cheque scanner
With three levels of software and three cheque scanning options available you can create a Checkprint Banking Assistant system that suits your specific business requirements.
- Comply with regulation
- Speed up banking process
- Quickly resolve queries on deposits & retrieve images
- Improve accuracy of banking
- Scaleable to suit your requirements