Keeping Tabs on a Law That Will Keep on Giving

December 2004
Bank Technology News;Dec2004, Vol. 17 Issue 12, p18
Trade Publication
The article reports that largest banks in the U.S. will be image-enabled by 2006, as well as more than half of other institutions. The investment in technology and other infrastructure that aims to bring the full efficiency of the law to bear goes on unabated. According to a recent survey 40 percent of banks say they lack a detailed plan for Check 21 changes. Joe Kallet, a partner at Updata Capital Inc., says the big spending will occur in 2005 and 2006, but adds that banks will still be shelling out a healthy pace of spend on check imaging products in 2007.


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