An added benefit of capturing check images as early as possible and at multiple points of presentment—mobile, in-branch and remote—is that it eliminates the need for traditional outsourced check payment processing. Bluepoint Solutions’ ImagePoint Suite is a complete system for managing item processing in house. With a built-in, automated workflow, the full suite includes fraud detection, cashletter creation, inclearing and return processing, and check archiving.
As an alternative to expensive third party processing, the ImagePoint suite is easy to cost-justify in the short term, and the savings can only increase as check volumes continue to decline as predicted over the coming years and decades. Make a one-time investment that will last through the final days of paper checks.
Read on to learn about our four flexible end-to-end item processing solutions:
According to the ABA, check fraud accounts for up to 37% of deposit account losses. These losses can largely be eliminated, provided that you can react in a timely manner. Bluepoint Solutions fraud and counterfeit detection modules are real-time services integrated with the ImagePoint and QwikDeposit capture applications. They immediately alert your tellers and your back office employees when a high-risk check is presented, enabling you to alert your customer and apply an extended hold or reject the item. Avert fraudulent and counterfeit checks, and eliminate check losses for your bank and your customers.
Efficient image-based item processing is a source of significant potential savings for banks because it effectively aggregates digital check images from all capture points. ImagePoint Hub from Bluepoint Solutions automates this entire workflow. The system uses the aggregated images to create a single image cashletter for transmission to any endpoint, and simultaneously for posting to the bank’s core processor. Costly Day 2 returns are virtually eliminated as well, by means of our cross-channel, real-time duplicate detection and comprehensive Image Quality Analysis (IQA). Fully consolidate and automate your processing workflow to speed deposits and lower operating overheads.
Case Study: Tower Federal Credit Union Modernizes Check Processing
Managing check routing, inclearing and returned checks have traditionally required expensive, time-consuming manual tasks. Bluepoint Solutions ImagePoint Foundation offers banks both Day 1 and Day 2 check processing that streamlines these workflows and reduces costs. The sophisticated Day 1 sort pattern studio allows banks to process checks with any desired end point with standard file types, using multiple routing schemes to optimize processing costs. Our Day 2 functionality automates and simplifies inclearing checks and returns by comparing inclearings with your core system records, rendering pay/no-pay decisions effortless and virtually instantaneous. The system also creates and sends outbound return files, so that returned items can be re-presented or accepted. ImagePoint Foundation is very easy to learn and use, with guided workflows that enhance your daily activities. Take control of item processing management with these flexible forward presentment and inclearing tools.
The advent of image-based check clearing has made low-cost, accessible, immediate archive storage a reality. ImagePoint Archive is a searchable electronic repository for check images that completely eliminates the need to store paper checks. In addition to storage, banks using Archive have access to check images for use in internet banking, as well as full statement creation features, research capabilities, and large scale data retrieval and exporting. Make your data work harder for you while saving on high-cost storage and dedicated research teams.