img””Rear inkjet + franking adds important tools to manage FFIEC Compliance””

Digital Check recently announced the addition of franking to our highly successful CheXpress scanner for the small business. More importantly, CheXpress is now receiving great attention from bankers because it is the only low cost scanner offering rear inkjet printing capabilities along with franking, features highlighted in the recently released FFIEC guidance for RDC risk management. As well, CheXpress features bank quality images and MICR at a price point required to meet the expectations of small business customers.

“We have been surprised by the level of attention the CheXpress design features have received within the banks as they evaluate strategies to address the FFIEC guidance for risk management,” said Bruce Rennecker, Vice President of Product Management. “These new issues raised in the guidelines around remote deposit capture will impact financial institutions, processors, service providers, businesses and end-users throughout the industry.”

The CheXpress CX30 offers both a franking stamp and an ink jet printer which offers banks the greatest number of features and flexibility to mark the front of the check, the back of the check, or both.

The “intelligent franking” feature can be set to frank all items, no items, only items with MICR present, or under the control of the application. The optional front franking stamp when combined with rear audit trail printing, further reduces the risk of duplicate deposits and provides a way to manage exceptions when a franked check is presented at a branch for deposit. The franked check combined with the audit trail information printed by the ink jet on the back of the check will facilitate research on whether to accept such a check or reject it when presented at a branch.

The CX30 supports a rear ink jet printer that can be used to both record important deposit information and uniquely identify each check with programmable information. An example of a complete and easy to read audit trial could show as following:

Electronically Deposited Check

The above example clearly shows that the check was remotely deposited to a specific bank on a specific day. Bank personnel doing research on an item can refer to the unique, printed transaction control number versus trying to describe which check is the bank or customer is referring to. The Digital Check API can electronically verify, via image processing, the presence of the ink jet data on the back of the check at time of capture which helps reduce fraud and ensures that the remote deposit process is working.  For more information fill out our web contact form.