Northbrook, IL (February 26, 2015) – Digital Check Corp. will discuss the effects of problem images – which cost banks millions of dollars annually in the clearing and settlement process – at the BAI Payments Connect conference next week in Phoenix. Tom Jordan, Digital Check’s Director of Software Solutions, will join U.S. Bank’s VP of Compliance and Processing, Keith Powers, in the session titled “Check Imaging – The Multimillion Dollar Problem.”
In a 2014 white paper, Digital Check explored the cost of difficult-to-scan documents in the banking industry, and discovered that minor errors caused by issues from bad handwriting to background printing affect 3-4 billion checks and money orders per year in the United States. Another small subset of less than 0.1% of checks cause major problems that result in nearly half of all clearing costs for some banks. Jordan and Powers will discuss the real-world implications of image quality on financial institutions’ operations, as well as new image-enhancement technology and business practices that can mitigate its impact on a bank’s bottom line.
The session takes place from 9:45-10:45 a.m. on Wednesday, March 4. For more information, visit the BAI website. Digital Check’s white paper, titled Image Quality: The Quiet Problem That Costs Millions, can be downloaded at www.digitalcheck.com. Visit Digital Check at Booth 413 at the show.
About Digital Check
Digital Check provides superior check and document scanner products for teller, branch automation, remote deposit capture, and remote lockbox applications. The Northbrook, Ill.-based company was named one of Bank Technology News’ “Ten Technology Companies to Watch” in 2008 for its innovative products, and received a Bank Technology News’ Innovators Award for its affordably-priced CheXpress CX30 scanner. Digital Check’s SB, BranchXpress®, TellerScan® and award-winning CheXpress® series of electronic scanners are among the most cost-effective and reliable in the industry, and provide high-quality images with precise MICR accuracy.