Phase I: (available
This software solution
allows the financial institution to automatically scan and archive
checks into CCA. This can be done from a main location or from various
branches with a MICR or OCR desktop reader/scanner. Alternatively, a
file can be electronically input from another system or vendor (e.g. the
Federal Reserve). If desired, the check amounts can be entered in
interactively or later (in a batch mode) at the branch or in the
item-processing department. Totals are available for balancing.
In the event that
subsequent research is required, the customer service or bookkeeping
employee can easily search the check database (with their existing
desktop computer) for the specific check image desired. The search can
be initiated by amount, account number, check number, routing number,
teller number or date. Automatic purge and archive routines are included
to allow for the removal of data to an electronic file or a CD (for
permanent storage). CCA automatically tracks all CD's which have been
created and the date that the associated items were captured.
virtually any type are scanned into the Customer Document Imaging System
(CDI) for subsequent retrieval.
Elimination of the initial expense of microfilm devices
(while utilizing the existing technological environment) and the
associated hardware maintenance charges ($500+/year).
Images of the scanned checks and documents are instantly
available for questions. There is no wait for the film to be
developed and returned. Research is easily conducted for all items
that are still stored online or on CD's.
Searches can be initiated by multiple indexes (not just
date). Significant time is saved for IRS subpoenas, and/or other
types of research. If the bank continues to charge customers the
same fees for research (as today), this time reduction allows the
bank to turn this function into a profit center.
Research and input can be performed through any secured
desktop in the existing NT or Novell network. The bank is not
dependent upon a single operator.
The import and export facilities significantly reduce
data entry. For example, the CCA check images can be electronically
exported to a third party check imaging or statement system (in the
Alternatively, branches may electronically send the item
images directly to the clearing location. This eliminates losing a
day's float for those items processed after teh courier pick-up
time. During the next day, the checks can be sent.
The financial institution is in a position (if that is
their intention) to utilize electronic check presentment.
The impact of a courier losing an items is reduced.
The elimination of the film and processing charges
Work is not lost due to camera malfunctions, processing
mistakes, or other error conditions (that are usually not noticed
until it is too late).
CCA may also be utilized for lockbox operations.
scanning/archiving process or prior to transmission, individual teller
transactions can be balanced.
The branch can "kill" many of the
"on-us" items at the branch level. This eliminates the
handling of paper by employees in the main office. Filing space is
The end-of-day time "crunch" in the
bookkeeping department is virtually eliminated. Upon arrival, the
items are already balanced. Item processing only power encodes the
transit items and sorts.
of multiple courier runs are eliminated and/or significantly reduced.