Check 21 Becomes Law, Allows Speedier Electronic Settlements

Topics:
Commercial Banking
Tags:
Business Operations,
Check 21,
Computerworld,
Database,
Financial Services,
Hardware,
Litigation,
Settlement,
Storage
Source:
Computerworld

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Overview: This paper represents an article where check21 will enable speedier transactions & processing of checks. This would be a major technological change which will enable the bank to substitute electronic check images for paper checks for the clearance and settlement process. Under an electronic automated system once the check is deposited and after completion of clearing process it will create a database repository for those images that can be accessed through secure web-based channels.

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Format: HTML | Pages: 4

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