Five Steps To Take The Processing Center Beyond Payments

The topic of decreasing check volumes has recently been well publicized. For payment processing centres world-wide, this has created a strong trend for organizations to move towards an outsourcing model for check processing activities. However, what has been less well reported, is how some organizations have managed to increase their justification to retain these activities in-house.

This white paper provides a five step process that looks at how payment processing centres can diminish the threat of declining check volumes by taking on new document processes that exist within other areas of the organization.

Two areas where IT investment is currently being made to improve payment processing operations are in check imaging and automating payment exceptions.

Many banks and major institutions have been truncating checks and using check archiving systems to improve their distribution costs and bank charges for many years now. This provides benefits such as identifying fraudulent transactions far quicker within the clearance process and by providing quicker access to check images it has made it easier to resolve payment issues and disputes much more quickly.