TITLE

Straight Through Check Processing for Check 21 and Beyond

PUB. DATE
November 2003
SOURCE
Bank Technology News;Nov2003 Supplement, p4
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article focuses on the use of Straight Through Check Processing (STCP) model for adoption of Check 21 which is a check truncation legislation. STCP is a comprehensive solution enabling the bank to profitably compensate for reducing paper check volumes while increasing its volumes of image and data-based check transactions. STCP uses a Unified Payments Gateway for routing data and image based on business rules. All the aspects of STCP are governed by business rules which optimize float, revenue, service as well as cost.
ACCESSION #
19980622

 

Related Articles

  • Are you Ready for Check 21? Morris, Bruce // Bank Technology News;Nov2003 Supplement, p8 

    The article presents a letter contemplating the passage of the Check Clearing for the 21st Century Act known as Check 21 by the U.S. Congress. Check 21 will enable banks to exchange checks electronically. Use of technology in banking would make the economy less vulnerable to events like...

  • WHAT PEOPLE ARE Saying.  // Bank Technology News;Nov2003 Supplement, p25 

    The article presents the views of people from the finance industry regarding implementation of the Check 21 legislation. According to Fiserv's COO Norm Balthaser, implementation of Check 21 increases the efficiency of processing checks. In Financial Insights' research director Jeanne Capachin's...

  • Getting Ready FOR Check 21. Voelker, Michael P. // Bank Technology News;Nov2003 Supplement, p16 

    The article focuses on the preparation of banks and companies for the adoption of Check 21 legislation. It is viewed that the prospects of Check 2 are bright. Eight banks have been signed up by Small Value Payments Co., a payments company, for initiating a nationwide electronic check clearing...

  • Is Your Institution Ready for Check 21?  // Bank Technology News;Nov2003 Supplement, p29 

    The article presents information on the ICI's Check 21 Readiness Assessment. The ICI is expected to survey back office and payment processing operation of institutions for making recommendations for implementation of Check 21 legislation. Some of the benefits of the ICI's Check 21 Readiness...

  • SUDDEN Impact: Checks. Voelker, Michael P. // Bank Technology News;Nov2003 Supplement, p30 

    The article focuses on aspects of Check 21 legislation aimed at promoting check truncation by replacing paper checks with digitized images. Check 21 enables banks and other financial institutions to provide check substitutes referred to as image replacement documents (IRDs) which, are copies of...

  • Check Remains King Even in Face of Truncation. Murphy, Patricia A. // Bank Technology News;Nov2003 Supplement, p9 

    The article focuses on the effect of the passage of the Check Truncation Act known as Check 21 on the usage of checks in future. It is viewed that this law is expected to prolong the life of checks by making them more efficient. Check writing continues to be one of the most popular mode of...

  • Check 21 Act.  // Financial Update;Oct-Dec2003, Vol. 16 Issue 4, p9 

    The article focuses on the Check Clearing for the 21st Century Act that reduces impediments associated with check truncation becoming a law on October 28, 2003.

  • Proposed Bill Could Make 'Substitute Checks' Stronger, Ease Truncation Process.  // Community Banker;May2003, Vol. 12 Issue 5, p58 

    Reports on the possible impact of the proposed bill called the Check Clearing for the 21st Century Act on banks and banking, particularly on check truncation process, in the U.S. Benefits from the bill; Occurrence of check truncation; Impact of the bill on the handling of a substitute check.

  • Bankers support electronic check clearing legislation.  // Westchester County Business Journal;4/21/2003, Vol. 42 Issue 16, p23 

    Reports on major banking trade associations' expression of united support for legislation to promote increased efficiency and potential cost savings through greater use of check truncation. Facilitation of electronic check processing; General principles outlined in the U.S. Federal Reserve...

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics