Checkmation SOAR® & Prism®
for Banks
For some time now, Banks have been engaged in a tightrope act, navigating the thin
margin of functionality between paper and electronic funds processing. These once
mutually exclusive processes required that Banks engineer and maintain costly tandem
infrastructures. The advent of the Check 21 act has gone a long way towards creating
an allowance for change, leaving it up to the private sector to develop the best
possible solutions.
Checkmation® is a company dedicated to the cause
of expediting financial information exchange, improving the capabilities of financial
management software, and converting the paper payment mediums of the last generation
into viable, actionable data that can be transferred electronically. Our solutions
strive to convert checks into images and data at the first possible juncture, ending
their necessary involvement in process, and eliminating the cost of storing and
transporting them. Our process emulates the familiar aspects of the tasks bank employees
already perform, making the transition virtually seamless. This outlook allows banks
to advance their processes in an intuitive, practical way.
The Future is Here. Are You Ready for It?
Checkmation SOAR® Secure Online Automatic Routing (SOAR)
drastically reduces the time it takes to process check batches. This Solution Milestone
will allow scanning of 50 checks in less than a minute. Verification and conversion
to images and data takes less than five minutes.
Checkmation SOAR®
can also be customized to automatically post to accounting and archiving programs,
saving on labor costs.
Checkmation SOAR®
offers its users a high percentage of same day cash availability, faster clearing,
faster processing, reduced recording costs and elimination of check transportation
costs. Moreover,
Checkmation SOAR®
customers can save on third party financial institution fees.
Checkmation Prism® is our check image processing
,
remote forwarding and return solution for banks. With
Checkmation Prism®, financial institutions can reduce in-house
processing labor and third party bank fees, as well as check storage/transportation
costs.
Checkmation Prism® allows financial institutions
to submit and receive check images and data. It is designed to work with any image
enabled bank (including Federal Reserve banks) and is programmed to automatically
format check images into image enabled paying banks' standards.
With
Checkmation Prism®, banks can offer
Checkmation SOAR®
Remote Check Deposit & Back Office Truncation to their business customers, regardless
of the customer's proximity
Checkmation Prism® enables financial institutions
to print valid IRDs (Image Replacement Documents / Substitute Checks) when they
must reconvert received, returned or archived check images and data or create substitute
checks from images they receive from other image enabled financial institutions
or
Checkmation SOAR®
business customers.
Checkmation Prism®
allows financial institutions to maintain relationships with image and non-image
customers and associated financial institutions alike.
A Typical Checkmation® Bank Installation:
Is your Bank's manual check processing operation too cumbersome and damaging
your ability to offer your customers the lowest fees? Do you desire reduced third
party financial institution fees and faster clearing? Do you want to save on check
processing, transportation, accounting and archiving labor? If you answered yes,
let us show you how Checkmation® can turn things
around and help bring your Bank into this new financial age.