Check 21 Rules Present Banks With New Challenges
- Topics:
- Commercial Banking
- Tags:
- Bank,
- Check 21,
- Data Management,
- Financial Services
- Source:
- eWEEK
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Overview: The Check Clearing for the 21st Century Act, which will go into effect Oct. 28, will allow financial institutions that receive a check from another bank to send an image of the check rather than the physical paper check to the paying bank. As a result, new image exchange, archiving and fraud protection technology will be crucial to help financial services companies re architect their data management systems to comply with the act, which is known as Check 21. This article describes the effect of Check 21 rules on the banking industry.
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Format: HTML | Date: Sep 2004 | Pages: 5
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