Check 21 - Consider Your Options

Topics:
Commercial Banking
Tags:
Check 21,
Financial Company,
Financial Services
Source:
J&B Software

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Overview: While Check 21 does not mandate the adoption of fully-electronic check clearing system financial institutions, it does provide the flexibility and guidelines to accommodate the implementation of electronic check clearing. Financial institutions now have a "grace period" to adjust their processing and procedures to take advantage of the new image-centric law before its effective date on October 28, 2004. For those institutions that have already adopted advanced imaging, the transition should be smooth. For those that are not image-enabled and have no plans in place, the changes required will be significant, the investment large, and the technology and operational headaches on going.

(Is this item miscategorized? Does it need more tags? Let us know.)

Format: PDF | Size: 128KB | Date: Mar 2004 | Pages: 3

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