Check Imaging Software
The banking industry is one of the most active industries that need the automated solution in dealing with their numerous documents. One of the paper trail documents that they need to keep track of is the checks. These paper forms are the transaction media, which is the proof of payments or issuances to other people. The presence of the check imaging software is to assist the company in the compliance of rules associated with Check 21. This regulation is generally that law that allows banks to handle checks electronically. The check imaging software will help ease the flow of transactions concerning check payments. The user no longer needs to go to the banks where the checks are deposited as the transaction is now electronically processed with the help of the check imaging software. This new rule of the Check 21 Law came into effect in 2004 and allowed banks to process the paper forms electronically.
How Check Imaging Software Works
The check imaging software works by simply capturing pertinent data from the printed and actual paper documents. The information gathered from the picture captured ranges from the payee, the date, the check amount and the check number. Once these data are captured and digitally transported to the receiving or issuing bank, the deposits from that account are adjusted accordingly based on the data from the check imaging software. Thus, in essence, the check imaging software will serve their clients this digitized format of the check that will serve as enough evidence that a transaction has taken place. This technology that allows you to transfer payments electronically is a safe and trusted process that has been in existence for several years already.
Check Imaging Software Solutions
The most useful technology used in the check imaging software is the Optical Character Recognition technology. This is the type of program that will detect words and data from the printed document and will move to the storage of such data in the network central server. The check imaging software will then select the details from the check using OCR that will be applied and kept in a storage bin in the computer database. Another type of technology that is used is the intelligent character recognition. The check imaging software equipped with this tool often helps in the distinguishing of the handwritten words in the check.