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Check Imaging

Welcome to the News View for "Check Imaging".

Here, on these archive pages, you'll find all of the articles on Payments News for Check Imaging listed in date sequence beginning with the most recent article at the top of the page.

Click here for a complete listing of what's available in the Payments News Archive - organized by both posting date and subject category.

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January 16, 2013

July 29, 2010

Internet Crooks Craft Creative Counterfeiting Scam

Check fraud seems so old fashioned these days. But as this story points out, "these hackers got the account information in an unusual way: They broke into three websites that specialize in a little-known type of business — archiving check images online."

May 09, 2009

A Backward Glance at Emerging Payments While Looking Forward

Terri Bradford, Payments System Research Specialist at the Federal Reserve Bank of Kansas City, has published a paper titled "A Backward Glance While Looking Forward" looking at some of the new payments products and technologies introduced over the last 10 years: check conversion, person-to-person payments, account aggregation, and electronic bill presentment and payment,

January 26, 2009

NCR Introduces Web Service to Capture ATM Check Deposit Images

NCR has launched "a new web-based service for easier and faster management and processing of envelope-free deposits at ATMs. With Intelligent Deposit ATMs already making up more than 70 percent of its 2008 U.S. SelfServ ATM orders, NCR believes its new service – NCR APTRA Deposit Gateway – will significantly help the next wave of financial institutions move to image-based ATMs. NCR APTRA Deposit Gateway is a web-based software-as-a-service (SaaS) solution that enables financial institutions to perform check image processing for envelope-free deposits made at the ATM." READ MORE »

January 15, 2009

Record Check Image Volumes at SVPCO in 2008

The SVPCO Image Payments Network has announced it exchanged a record 5.6 billion check images in 2008, up 97% from 2.8 billion images in 2007. For all of 2008, dollar volume also hit an all-time high of $8.5 trillion, up 71% from $5 trillion in 2007. The number of institutions exchanging images also rose to an all-time high of 44 in 2008, up from 24 in 2007. The SVPCO Image Payments Network began operations in January 2005. READ MORE »

December 16, 2008

Wells Fargo Teams With Fiserv for Check Image Exchange

Wells Fargo has announced it has increased its volume of electronic payments with other financial institutions by clearing checks through image exchange with Fiserv Solutions. READ MORE »

November 12, 2008

DepositNow Speeds Cash Collection for Small Businesses

BankServ has announced that its DepositNow remote deposit service has added the capability for small businesses to be paid directly from emailed invoices. READ MORE »

October 22, 2008

Viewpointe's View on Outsourcing Check Image Archives

Viewpointe has released research on the decision-making processes associated with outsourcing check image archives - including an industry whitepaper titled "In-House or Outsourced Image Archive Services: Plotting Position and Course'' that was developed with the independent research firm Financial Insights. Viewpointe has also released a Customer Experience Profile with BB&T Corporation chronicling the bank's results derived from outsourcing its check image archive to Viewpointe. READ MORE »

July 14, 2008

SVPCO Sets Records in June for Check Images, Dollar Volume

SVPCO, the paper and electronic check exchange business of The Clearing House Payments Company L.L.C., reports that the SVPCO Image Payments Network set records for both monthly items and dollar value in June 2008. READ MORE »

May 20, 2008

US Check Image File Format Standard Agreed

The CheckImage Collaborative has announced the creation of a Universal Companion Document (UCD) which establishes a uniform industry approach for populating and validating check image files. Since the implementation of the Check Clearing Act for the 21st Century (Check 21) in October 2004, the banking industry has been rapidly transforming from a paper-based check clearing structure to an image-based system with nearly half of all checks paid cleared as images today. Ongoing interoperability issues have impacted the industry's ability to realize the full value of check image clearing. One of the biggest obstacles to true interoperability has been the use of the check image file format standard. The creation of the UCD establishes a consistent approach for all industry participants to use when processing check image files. READ MORE »

February 19, 2008

Fifth Third Bank Joins Viewpointe's Check Image Exchange Network

Viewpointe has announced that Fifth Third Bank will begin using Viewpointe's Pointe2Pointe solution for check image exchange.

READ MORE »

January 23, 2008

Using Mobile Phones to Make Remote Check Deposits

Mitek Systems has announced ImageNet Mobile Deposit, calling it "the first mobile banking software that allow banks to accept paper check deposits and bill payments via camera-equipped mobile phones." Mitek will demonstrate ImageNet Mobile Deposit in booth #225 at the BAI-TransPay show beginning February 5, 2008 in Dallas at the Gaylord Grapevine Resort.

READ MORE »

January 08, 2008

Fiserv to Use Viewpointe Check Image Archive

Fiserv and Viewpointe have announced that Fiserv will use the Viewpointe archive to expand its current image storage offerings to its 1,600 check processing clients. According to Viewpointe, "as an archive user, Fiserv joins several of the nation's largest financial institutions in having access to the most robust common archive in the industry. Fiserv will continue to use its current image archive for delivery of products such as image statements, CD/ROMs and DVDs."

READ MORE »

October 11, 2007

SVPCO Check Image Volume Continues to Grow

SVPCO has announced that its monthly image items and dollar volume grew strongly in September compared to a year ago - processing 255.3 million in total monthly items, a 218.3% increase compared to a year ago representing $427.8 billion in total monthly dollar value, a 119.9% increase compared to a year ago.

READ MORE »

October 07, 2007

Checks on the Decline

In an article titled 'Fewer Folks Getting Out Checkbooks', Michael Coit writes about the move away from the use of checks. "At Bank of the West, the fifth largest bank in California, check volumes have been cut in half since 1990 to 45 percent of all non-cash transactions today."

June 18, 2007

NetDeposit Awarded Two Patents for Electronic Check Processes

NetDeposit has announced "it has been awarded two new patents, Nos. 7,181,430 and 7,216,106, from the United States Patent and Trademark Office (USPTO) for the processes and technologies involved in remote electronic presentment of all types of checks. The patents cover NetDeposit's array of software products and services, which enable electronic check presentment and payment."

READ MORE »

May 30, 2007

Unisys to Develop Next-Generation Electronic Check Payments System

Unisys has announced it will design and help implement a new electronic check and image processing system in a consulting, software and hardware agreement with the Federal Reserve Bank of Cleveland, acting on behalf of the 12 Federal Reserve Banks.

READ MORE »

May 18, 2007

Wells Fargo Launches Images of Returned Item, Deposit Details for Small Business

Wells Fargo has announced the launch of Returned Item & Deposit Details, an enhancement to its Wells Fargo Business Online Banking service. According to the bank, "with this rollout, Wells Fargo is one of the first major U.S. financial institutions to offer small- to mid-sized business customers access to electronic images of returned items, as well as an array of other electronic images, including cleared checks and deposited checks - as part of its online banking service."

READ MORE »

May 17, 2007

Brinks, Metavante Partner on Remote Image Capture Services

Brink’s U.S. and Metavante have announced the launch of Metavante’s Sendpoint distributed image capture service to Brinks’ cash vaults across the country. Metavante’s Sendpoint service provides for the remote image capture and image exchange of deposits and payments received from Brink's Vaults, accelerating deposit capture from receipt through posting and presentment.

READ MORE »

May 15, 2007

Milestone - Check Image Volume Surpasses Paper Check Volume

SVPCO, the check image and paper check business of The Clearing House Payments Company L.L.C., has announced that its average daily check image items and dollar value exceeded its paper check items and dollar value for the first time in its history during April.

READ MORE »

May 07, 2007

The Bank of New York Connects To SVPCO Image Payments Network

SVPCO - Electronic Clearing Services, the electronic check and check image exchange business of The Clearing House Payments Company, has announced that The Bank of New York is now participating in the SVPCO Image Payments Network.

READ MORE »

April 23, 2007

Fed Reports to Congress on Check 21 Progress

In a report titled "Report to the Congress on the Check Clearing for the 21st Century Act of 2003" (PDF), the Federal Reserve reports "on the effect of the Check Clearing for the 21st Century Act on the nation's check-collection system. Assesses the need for modifications to the funds-availability requirements established in and pursuant to the Expedited Funds Availability Act (EFAA). Based on the Board's extensive survey of the banking industry and supplemented with other information from official and industry sources."

April 18, 2007

Endpoint Exchange Links To SVPCO Image Payments Network

Endpoint Exchange LLC, a Metavante company, and SVPCO – Electronic Clearing Services, the electronic check and check image exchange business of The Clearing House Payments Company LLC, have announced that member financial institutions of both systems can now exchange check data and images.

READ MORE »

April 09, 2007

SVPCO Image Payments Network Reports Strong Volume Growth in March

SVPCO has announced that the total number of check images and the dollar value hit an all-time high in March reaching a total of 177.4 million in total monthly items, a 507% increase compared to a year ago. March's volumes totaled $333.8 billion in total monthly dollar value from an average of 8 million daily items.

READ MORE »

March 29, 2007

Fiserv, Bank of America Connect Through Viewpointe

Fiserv has announced it is now exchanging checks with Bank of America through Viewpointe, a provider of check image exchange and archive services in the United States. The agreement enables Bank of America to connect to thousands of endpoints on the Fiserv Clearing Network, while allowing other Fiserv customers to exchange images directly with Bank of America.

READ MORE »

January 23, 2007

Diebold Licenses DataTreasury's Financial Transaction Patents

DataTreasury Corporation has announced a worldwide licensing agreement with Diebold for the use of four of the company's financial transaction patents relating to "technologies involved in the electronic processing of checks and other financial instruments and include claims related to the capture, transmission, encryption, storing and retrieval of electronic images generated from these types of documents."

READ MORE »

January 22, 2007

Commercial Capture Solutions

Mercator Advisory Group has published a new report titled "Commercial Capture Solutions" that examines the rapid growth in check image deposits last year and the increasing use of check images for inter-bank transfers.

READ MORE »

January 10, 2007

2007 - The Year Of Check Image Exchange

TowerGroup has published a new report titled "Check 21 in 2007: The Year of Image Exchange" on bank adoption of Check 21 - predicting that 2007 will be the first year in which monthly check image exchange volumes surpass paper check presentment volumes.

READ MORE »

January 08, 2007

SVPCO Exchanged 747 Million Images Worth $2 Trillion In 2006

SVPCO-Electronic Clearing Services has reported that the number of check images exchanged in 2006 soared 15-fold compared to 2005, while the dollar value jumped 5-fold year-over-year.

READ MORE »

December 29, 2006

Kodak Launches Check 21 Remote Capture Solutions

Eastman Kodak has announced a new check processing solution and strategic relationship with CFC Technology Corporation that is "designed to help organizations of all sizes take advantage of Check 21 benefits, allowing for businesses to remotely scan their incoming checks, which is a far more cost effective way to handle business deposits."

READ MORE »

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