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Check Payment Processing for Banks


 

 

 

 

 

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Check Payment Processing for Banks


 

 

 

 

 

In-House Check Processing Reduces Costs and Losses

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:

 
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Check Fraud Modules for Banks


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Check Fraud Modules for Banks


Dramatically Reduce Counterfeit and Fraudulent Check Losses

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.

  • Validates checks against more than 90% of all demand deposit accounts in the U.S.
  • Identifies counterfeit checks using a single, consolidated database from the Fed, CUNA, IAFCI, CUNA Mutual, FDIC and more
  • Gives teller specific talking points when an item is flagged while the customer is still present
  • Alerts customer directly when used through a remote deposit channel
  • Protects both the bank and its account holders with justified Reg CC hold extensions

Related Industry Research

Case Study: Orion FCU Eliminates End-of-Day Balancing and Reduces Teller Overtime

> Read More

White Paper: Cheating With Checks: An Update on the Changing Check Fraudscape

> Read More

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ImagePoint Hub for Banks


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ImagePoint Hub for Banks


Streamline Check Processing

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.

  • Performs duplicate detection on all items across all capture points
  • Capable of transmitting multiple cashletters daily, based on number of items, combined dollar amount, or time of day
  • Offers instant access to check images for research and response to customer queries—no waiting for items to become available
  • Allows the configuration of user permissions and settings on all capture points 

Related Industry Research

Case Study: Tower Federal Credit Union Modernizes Check Processing

> Read More

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ImagePoint Foundation for Banks


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ImagePoint Foundation for Banks


Take Charge of Day 1 and 2 Operating Costs

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.

  • Eliminates outsourcing but does not require additional in-house staff or specialized training
  • Flexibly supports multiple cashletters, sending transit items to multiple endpoints based on customizable sort patterns
  • Combines inbound cashletters from various endpoints as well, for faster processing of inclearings
  • Scales readily to any volume of check, serving data-centers, service bureaus and correspondent institutions
  • Customers can be quickly notified about returned items

Related Industry Research

Case Study: Coconino Federal Credit Union Creates Long-Term Benefits by Bringing Item Processing In-House 

> Read More

Case Study: JSC FCU Launches In-House Item Processing 

> Read More

Case Study: Financial Partners Credit Union Switches to the Fed’s Check ServicesStory Headline Here

> Read More

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ImagePoint Archive for Banks


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ImagePoint Archive for Banks


Secure Storage and Access for Checks and Transaction Data

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.

  • Reduces archive costs with the digital storage of all checks
  • Offers a web-based, home-banking API that easily integrates with other systems to display deposited and cleared items
  • Easily imports any other system’s X9 file, streamlining the conversion process