TITLE

Truncation Will Spur Internet Links Among Branches, Banks

AUTHOR(S)
Jevans, David
PUB. DATE
November 2003
SOURCE
Bank Technology News;Nov2003 Supplement, p47
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article argues that the Internet will play a significant part in maximizing banks' gains from electronic check truncation. The author believes that secure check-image transfer over inexpensive Internet links is a major technological advancement in the financial services industry. It is informed that new legislation will allow banks to clear check transactions with the original check, a digital image of it, or a paper reproduction called an "image replacement document." With the help of Internet banks will be able to connect to multiple services or directly to each other to exchange the data.
ACCESSION #
19980641

 

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