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Two financial companies have defied conventional wisdom by establishing a direct connection for exchanging check images with each other, and others are planning to follow suit. Most of the image-related [...]

To promote interoperability among the various image exchange networks, the Endpoint Exchange Network has decided to use the rules drafted by the Electronic Check Clearing House Organization for settling payments [...]

Companies that make money verifying point-of-sale checks for merchants are taking steps to minimize revenue loss from declining check use. Some are trying to land new merchant customers, others are [...]

Banks are using check-imaging technology in innovative ways to improve service. Remote deposit capture is one of the promising new applications that banks can use to take advantage of the [...]

Much of the talk about image settlement has focused on how banks can accelerate the clearing process by sending images to each other, and scant attention has been paid to [...]

The Federal Reserve, which processes the vast majority of checks in the country, said the number of paper checks it processed last year declined for the third year in a [...]

Each year, banks allocate an increasing amount of their technology budget to payment systems. TowerGroup, in fact, reports that spending by the global banking industry is expected to reach $14.3 [...]

While many banking companies are enthusiastic about storing check images at third-party archives, where they might exchange them, a Wachovia Corp. technology subsidiary is counting on continued demand for in-house [...]

Funds Donated To Cancer Groups SAN ANTONIO-In an effort to increase awareness for the fight against breast cancer, Clarke American is offering Loving Reflections, a cause related line of products [...]

'What we do isn't sexy, but there's still about 70 billion checks processed every year,' says Patrick Koster, marketing director of BankWare, explaining why its latest product release is significant. [...]

J&B Software has been tapped by Panini North America to help market Panini check processing transports. Panini North America, based in Dayton, OH, is an American unit of Panini, a [...]

New York-area banks are losing less to check fraud, possibly bucking a national trend, according to the New York Clearing House Association. The clearing house's 10 member banks, including Chase [...]

Comerica Inc., a pioneer in check imaging, has launched a service that gives corporate customers on-line access to images of checks posted to their accounts. The service, which one observer [...]

Document Solutions Inc. is about to test a service that lets businesses and consumers view images of paid checks on the Internet The unit of Bisys Group, Hackensack, N.J., provides [...]

Deluxe Corp., the check printing company that controls over half of the domestic market for blank checks, is consolidating its check printing operations. The number of check printing plants will be reduced from the current 41 to 15 during 1997. The consolidation is a proactive move being implemented in anticipation of the imminent plateauing of check use that is expected to come from the wider use of electronic commerce. Growth in the check printing industry was down to 1% in 1996 from 6% in the early 1990s., J.A. 'Gus' Blanchard ranks among the best sources of information on the coming of the checkless society. As president and chief executive officer of Deluxe Corp., Mr. Blanchard, 54, heads [...]

A full three years after a prominent technology vendor announced that check imaging had 'arrived,' banks are finally acting as though they believe that's true. According to data from two [...]

An effort, national in scope, to establish an anti-check fraud data base has been joined by the New York Clearing House Assn. The association's checking account data base will be linked to Primary Payments Inc of San Diego, CA, a network of 26 banks which furnishes information on checking accounts. The growth in US check fraud losses, estimated annually at $11 bil for merchants and $1 bil for banks, is the major reason for the new data base., The New York Clearing House Association has joined an effort to create a national data base that would help banks and merchants fight check fraud. The clearing house group plans [...]

The Royal Bank of Canada has signed a $44 million contract with IBM to change the bank's check processing system to an image-based process, using IBM's ImagePlus High Performance Transaction System. The system will first be applied to proof-of-deposit, which accounts for 40% of the $2 billion a year banks spend on check processing. IBM has a dominant share of the market for imaging systems used for check processing., Royal Bank of Canada has announced plans to convert its entire check processing operations to an image-based platform from International Business Machines Corp. The $129 billion-asset bank, based in Montreal, [...]

Banctec Systems Inc, located in Dallas, TX, expects to gain increased revenue by marketing its new document management device, ImageFirst Office. Digitized images available on computer networks take the place of paper documents, such as checks, loan forms, stock certificates and signatures. Banctec exhibited the comparatively inexpensive image processing system at the Bank Administration Institute's 1995 meeting on check processing., Banctec Systems Inc., has launched an office workflow system that it hopes will enable it to tap into a quickly growing document management market. The system, called ImageFirst Office, is [...]

Jack Henry & Associates, a financial software company based in Monett, MO, announced formation of a new division to develop, market and service check imaging software. The system will allow banks to exchange check images rather than moving actual checks for processing. About half of all community banks in the US plan to invest $300,000 to $600,000 in check imaging systems between 1995 and 1996, according to marketing research., Banking software developer Jack Henry & Associates announced last week it is forming a division aimed at developing, marketing and supporting its own line of check imaging systems. Officials at [...]

IPS of Boston has introduced a version of its check-writing and printing software for desktop laser printers. The check software company updated its Quikencode product - first released in 1992 [...]

CoreStates Financial Corp is investing millions of dollars in check imaging systems to allow it to send check images to corporate clients. Its first client, a mutual fund company, uses the service to get images of checks drawn by its customers on their investment accounts. Imaging can also be used to prevent fraud by sending pictures of unusual checks to corporations before they are cashed. Eventually, the bank plans to use the technology in retail services., CoreStates Financial Corp. is making a big push for a breakthrough in check imaging technology. The $23.7 billion-asset holding company plans to spend millions of dollars on imaging system development, [...]

WASHINGTON -- The Federal Reserve Board on Wednesday approved staff recommendations that will slightly increase the average price of the agency's check collections next year. At the same time, the [...]

NEW YORK -- A Federal Reserve proposal aimed primarily at speeding the availability of checking deposits is not likely to be effective, according to some banks responding to the plan. [...]

The Massachusetts House of Representatives passed a bill Monday night that may shorten the time that banks have to clear funds for checks. The bill, which the Senate was expected [...]

ALBANY, N.Y. -- Legislation that would extend for two years a tax break for troubled savings bank passed the New York State Assembly last week and now awaits Gov. Mario [...]

Even though Congress has expressed concern over bank float of checks for seven years, banks have not regulated themselves. Unless it gets some response from banks, Congress will enact the Fair Deposit Availability Act, a bill to regulate the practice.

DEARBORN, Mich. -- On average it takes about seven days for a bounced check to be returned to the institution where it was deposited, according to the preliminary results of [...]

NEW YORK -- Deluxe Check Printers Inc., the nation's leading check printer, is not especially worried about the impact of electronic banking systems in the near future, the firm's chairman [...]

WASHINGTON -- House members say they may use the New York State law on check holding as a role model in setting similar federal limits. At a hearing Wednesday, a [...]

25 federally chartered thrifts have failed to comply with New York regulations on check clearing times. However, the banking superintendent noted that the Federal Bank Board encouraged the dissent by claiming that federal law preempted the New York law., NEW YORK -- The New York State superintendent of banks publicly reprimanded 25 federally chartered thrifts Tuesday for failing to comply with a month-old regulation on check clearing times. Superintendent [...]