Check 21

The Fed announced this morning that 99% of checks are now clearing electronically between banks.  During a period of unremitting bank-bashing, let’s take a moment to applaud a real home run by the bankers.  The radical transformation of the check infrastructure, accomplished over the last six years, is due to some very smart law-making (the Check21 […]

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I think it’s fair to say that the success of remote deposit capture (which allows the recipient of a check to scan and deposit it electronically) took the payments industry somewhat by surprise. The early take on this offering seemed to be “hey, why not just change to electronic payments”? The answer, of course, was […]

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I took a slight detour en route home from Las Vegas (via Death Valley and Yosemite – spectacular!) and just finished writing up my observations. This year is the largest NACHA Payments conference to date (they get bigger and bigger each year) with nearly three thousand attendees. There were sessions devoted to ACH, check electronification, […]

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Despite the wide popularity of check electrification (check conversion, image exchange) not all banks have made the investment in image check technology. Meanwhile, the Fed is accelerating its migration from paper check processing to electronic, starting in June with a targeted end date of December 2009. Fiserv is stepping in to fill the gap, offering […]

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[I am in Las Vegas for the TAWPI Payments in Transition conference – these are my notes from one of the sessions. An index of all of the sessions and links to the rest of my notes is here. – EMc] Distributed Capture Panel Discussion Wally Vogel, President, Creditron Mary Hockridge, Executive VP, NetDeposit Brandon […]

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[I am in Las Vegas for the TAWPI Payments in Transition conference – these are my notes from one of the sessions. An index of all of the sessions and links to the rest of my notes is here. – EMc] Image Integrity—A Critical Component of Check Electronification Kerry Atha, Director of Product Development, ViewpointePerry […]

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[I am in Las Vegas for the TAWPI Payments in Transition conference – these are my notes from one of the sessions. An index of all of the sessions and links to the rest of my notes is here. – EMc] Check 21 Update Speaker from the Federal Reserve was unavailable at the last minute […]

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[I am in Las Vegas for the TAWPI Payments in Transition conference – these are my notes from one of the sessions. An index of all of the sessions and links to the rest of my notes is here. – EMc] Check 21 Road Map: One Bank's Journey Into the 21st CenturyJR Thornton, AVP Indirect […]

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[I am in Las Vegas for the TAWPI Payments in Transition conference – these are my notes from one of the sessions. An index of all of the sessions and links to the rest of my notes is here. – EMc] Distributed Capture: Trends, Opportunities & ChallengesDavid Peterson, Executive VP, Goldleaf Financial Solutions [program blurb] […]

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I am in Las Vegas for the fifth annual TAWPI Payments in Transition conference (with the largest attendance yet: approximately 140 billers, bankers and vendors). TAWPI – the Association for Work Process Improvement – is focused on payments automation, distributed capture, and imaging/forms processing. The Federal Reserve's latest research indicates that 50% of consumer-to-business (C2B) […]

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Here’s an update on NACHA topics from this morning’s sessions at the Association for Financial Professionals conference being held this week in Boston. Check to ACH Conversion Some of us in the industry will remember a brief and ill-fated “Check-ACH Coalition” in 2006, targeting a larger-scale conversion of checks to ACH, at a bank’s instigation […]

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There are 6,000 people at this year’s AFP (Association of Finance Professionals) conference in Boston, and it feels like half of them must be smashed into this morning’s session on “The Retail Merchant’s Customers’ Payment Options: Deciding Between C21, BOC, ARC & POP”. Peter Nash of CVS, Charlie Labassi of Home Depot, and Delores Ratliff […]

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