| Check
Processing
Rely Services is your single
source, high tech answer to outsource all your
check processing needs.
Advantages
of checks
Here is why check processing is a must, if you
want your business to thrive:
- Checks represent 60% of non-cash payments
in America.
- 43 billion checks written in 2002-2003 representing
$39.3 trillion in payments.
- 20% of all online transactions are check-based.
- Checks are less expensive to process than
credit cards.
Check
21
Check 21 has become a flashpoint.
The creation of a negotiable instrument called
the "substitute check" is limited by
the legislation itself whose effect is to create
a “teachable moment” for banks plotting
a transition from paper to electronic payments.
Check Processing is a decades
old process. It is believed by many people that
it will open the door to the first real technological
change in the check processing for which 12 months
maximum is the time duration for its implementation
by the law.
For banks, the reach of "Check
21" may include:
Check capacity consolidation
decisions and processing expense.
Rather than investing in some
check infrastructure that is being slowly replaced
by an electronics payment infrastructure, which
is better to invest in.
Implementation of needed changes
in auditing and fraud control.
Need to identify for revenue
streams that the law and technology will create
and the executing on opportunities for the same.
New regulations Compliant.
Need to participate on standards
in other interoperability issues and in industry
initiatives.
The
Right Technology
to outsource check processing
Rely Services provides you the
RIGHT technology to outsource check processing
requirements of all kinds – highly specialized
captured images with state of the art OCR capabilities.
Further, we specialize in the needs of larger
financial institutions, which can lower your costs
by sharing our technology investment among a wider
base.
The
Rely
Advantage
If you outsource your check processing needs to
Rely, here is what you get:
Value-added
Services
Instead of sending your customers cancelled checks
with their monthly statements; we provide you
a digital image of both sides of every check.
Your customers have less paper to sort through
and store - and you spend less on postage.
Single
Platform
Rely has developed a single nationwide platform
for check processing, unlike other providers that
have not settled on one system. The advantage
of this standardized process is that even if your
bank is acquiring other banks or is being acquired,
you can provide consistent check processing across
multiple regions.
Add
to your
Revenues
Our archiving system allows your customers to
view their statements and canceled checks on your
bank’s Web site, resulting in additional
revenues. Giving your customers the option of
receiving imaged checks with their statements
also enables you to charge higher fees to those
who prefer getting paper checks.
Prepare
for
Internet Banking
Debit cards and Internet banking are slowly displacing
traditional checks. Rely can help you in the transition
from traditional to electronic check processing.
Speedier response to customer inquiries - even
Internet delivery of check images - means happier,
more loyal customers.
Rely's
Experiences
Rely’s past and continuing experience with
American Financial Institutes helps you streamline
the process and smoothens the transition more
faster.
Outsource
Check Processing
Services to Rely and get:
- Reduced paper document handling, resulting
in fewer errors and increased bank productivity.
- Make corporate checking accounts available
on CD-ROM, with imaged statement distribution
for faster, easier reconciliation.
- Generate additional fees for providing customers
with imaged documents.
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