Articles
Self-Service Check Processing Is Here, And The Early Adopters Are Reaping The Rewards
March 4, 2008
•Case Study: Self-Service Check Processing Is Here, And The Early Adopters Are Reaping The Rewards
Check imaging is one of the most talked-about new ATM features. With digital images now having the same legal status as original checks, banks have a huge opportunity to achieve significant cost savings and give consumers greater flexibility by shifting transactions from the branch to the ATM.
Check 21 legislation begins to put an end to the "paper chase" of check processing, making scanned images as legitimate as the original document. As Check 21 becomes a reality, financial institutions are beginning to focus not only on check-scanning capabilities in back-office systems but also deposit-taking at the point of entry at locations such as ATMs, in order to capture check images as documents enter the bank. The more that check imaging and deposits can be shifted to the point of entry, the greater the productivity gains.
Wincor-Nixdorf, one of the world's leading suppliers of IT solutions for the financial services and retail industries, has been using Intelligent Word Recognition (IWR) and handwriting recognition technology from A2iA Corporation in bulk-check scanners around the country.
A2iA CheckReader is a comprehensive set of tools that locates and reads key transactional information from check images, while simultaneously supplying other information necessary for advanced fraud detection systems, image quality testing and check usability assurance. A2iA CheckReader locates and reads freeform cursive handwritten and machine-printed information from all areas of interest on personal and business checks as well as money orders and other common banking documents.
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