Wanted: An Industrywide Check Image Network

Topics:
Commercial Banking
Tags:
Accenture Ltd.,
Bank,
Check 21,
Finance,
Financial Services,
Network,
Operational Accounting,
Payment
Source:
Accenture

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Overview: Now that the Electronic Check Clearing for the 21st Century Act is in effect, electronically shared check activity has ramped up slowly as banks feel their way through the operational and technological changes brought about by the new law. Banks can either focus on developing an industry wide electronic check-image-handling network, thereby saving money and regaining control of the payments infrastructure; or they can spend heavily on redundant proprietary systems and risk delaying the progression from paper to electronic exchange. The article examines the benefits and hurdles to banks created by Check 21.

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

Format: PDF | Size: 419KB | Date: Mar 2005 | Pages: 2

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