CHECK21Check Clearing for the 21st Century Act of 2003 (law)
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The credit union found IMM's eTeller Check21 solution outperformed industry standards by providing an integrated offering that works seamlessly with the credit union's core business system, Fiserv XP2.
ACHeck21 is an intelligent private financial cloud that combines ACH (Automatic Clearing House) entry classes and Check21 (Remote Deposit Capture) along with ancillary services and features into a single hosted work flow.
CheckAlt Batch consolidates and reconciles all Check21 items through one central reporting service for unified delivery to the banks corporate processor or the Federal Reserve (FRB.) The solutions also auto detects any duplication across multiple origination points for improved accuracy, security and fraud prevention, and overall reporting.
Taking a consolidated approach to capturing all Check21 files across end points we feel will soon become an industry best practice" Shai Stern, CEO CheckAlt.
IMM, the source of eSignature and eTransaction management for financial institutions, has announced that Chambersberg, Pa.-based 1st Ed Credit Union has successfully implemented IMM's eReceipt and eTeller Check21 (Teller-based Capture) solutions, the company said.
Immediately, at the point-of-presentment, the driver knows if the check is negotiable and meets Check21 requirements.
The $67 million IBEW & United Workers Federal Credit Union in Portland, Ore., has replaced its Check21 solution with eDOC Innovations' CheckLogic suite, the company and credit union said.
The new services include: Currency Management Solution, powered by Transoft Inc; Vault Cash Verification; Mobile Banking Solution, developed in partnership with with mSHIFT; ATM Marketing Hosted Solution; Check21 ATM Solution; and RiskWatch IT Assessments, developed in partnership with RiskWatch International.
Residing client-side on the phone or tablet, A2iA Mobility's unique differentiator of being able to fully process a check without a server connection creates an intelligent handset and allows for DepositWizard Mobile to offer a turnkey, Check21 compliant solution that is quick and easy to use, scalable, and reduces operating costs for the banks and credit unions.
The solution follows the Check Clearing for the 21st Century Act, or Check21, which removed the barriers to electronic cheque processing in the US.