Indian Overseas Bank has selected Silver Bullet's Ranger API as its portability strategy for the check truncation
software used for branch capture across IOB locations in India.
Indian Overseas Bank has selected Silver Bullet's Ranger[R] API as its portability strategy for the check truncation
software used for branch capture across IOB locations in India, the company said.
And while Europe has moved away from checks, in the United States, technological innovations like check truncation
and remote deposit capture have made it easier to use them, a development that has lessened companies' motivation to push toward electronic payments.
"BancorpSouth leads the nation in adapting technology for the check clearing for the 21st Century Act, which involves creating digital versions of original checks known as check truncation
," Rollins said.
Coupled with the increase in check truncation
technologies, such as business remote deposit capture, consumer/mobile RDC, envelope-less ATMs and emerging electronic capabilities, such as prepaid cards, mobile banking and P2P, and it is not surprising to see that teller transaction volumes are declining rapidly.
By combining innovative products and solutions from both organizations, users receive a complete foundation for Check 21 check truncation
initiatives with built-in check image quality and usability features.
Still in its early-adopter stage, consumer RDC is beginning to grow like wildfire, and as with services such as ACH and check truncation
, credit unions are leading the way.
The report objectives are to (1) determine the gains in economic efficiency from check truncation
and evaluate the benefits and costs to the Federal Reserve System (Federal Reserve) and financial institutions; (2) assess consumer acceptance of the check truncation
process resulting from Check 21; and (3) evaluate the benefits and costs to bank consumers from check truncation
The Federal Reserve's role in promoting Check 21, a law that facilitates check truncation
, is an example.
These 19 articles describe a wide range of applications of information technologies now applied, or soon to be applied in Indian banks, covering such topics as the opportunities available and the sustainability of Indian e-banking, technology for management, e-delivery, Internet banking, risk management issues, emerging technologies, the performance of Six Sigma, ongoing challenges, optimization of investments in information security, check truncation
systems, and the tasks ahead.
Successfully implemented in 76 banks and 3 Central Banks in 5 countries, this pioneering solution actualized a fully electronic, same-day clearing cycle, with check truncation
from the branch.