Checks Clearing Process
Automation Solution
Despite the trend toward a cashless society, checks are still very much in use. While they play an important role, they can also create a major hassle. In fact, checks clearing process consumes employees’ time in routine tasks. Also, recovering funds from bounced checks can be costly and time-consuming, impeding cash flow and limiting the bottom line.
Take the hassle off your hands with Sumerge’s Checks Collection and Clearance solution. Our automated end-to-end platform captures, digitizes, and automates check operations while seamlessly integrating with central clearing houses. You save time, eliminate hassles and get paid — fast.
Checks Clearing Process - Solution Benefits
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Rapid Processing for Happy Customers
Real-time, highly personalized customer communications using existing client info and rapid transaction cycles
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Fast and Steady Income Stream
Automation accelerates the check collection, clearing, approval and rejection cycles
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Business Protection on All Fronts
Guaranteed regulatory compliance with real-time monitoring and automated validation to reduce chances of fraud
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Key Details for On-the-Spot Decision Making
Full visibility provides optimum insights into information processing and transaction efficiency
Checks Clearing Solution Capabilities
Check Image Capturing
Optical Character Recognition (OCR) and Intelligent Character Recognition (ICR) provide secure and seamless capture
Workflow Automation
Optimized check processing operation reduces data entry and duplication errors
Check Case Management
Management of unstructured processes and ad hoc tasks for seamless collaboration
Integration with Core Banking
Information exchanged with core banking system for efficient check settlement
Automated Compliance
Automatic regulatory compliance review with credit history, AML status and blacklists
Reporting & Dashboards
Automatically generate check presentment and return reports
Internal Checks Clearing Solution
Latest Case Study
Sumerge has helped one of the leading banks automate their internal checks collection and clearing process. To begin with, the bank’s core system runs over AS400 and our solution is not replacing the module of checks processing. However, the purpose of our platform is to automate the internal workflow required before proceeding with debiting or crediting checks. In addition, our solution provides electronic archiving as well as it helps expedite search operations.
For instance, the diagram illustrates one of the automated processes. The platform has transformed the internal workflows leveraging IBM Automation technologies. Employees were no longer required to perform routine tasks such as validating checks, verifying signatures, etc. After going live, this solution has helped the bank cut costs by 60%.
Interested to Learn More? Book Now a Free Consultation Session with our Banking Consultants
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Sumerge is one of the best companies I have dealt with. The team is very professional, respectful, punctual and committed to delivering the contracted project on time
Sahar Salah,
Vice President, Head of IT, Bank ABCSumerge helped us to seamlessly implement a daily vouchers solution where the team provided an exceptional effort to solve any migration issues and finish the implementation with zero data loss or security issues
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IT Infrastructure services Manager, FABWe used Sumerge’s consultancy and experience to implement our Self-Service Portal as they are the best team in the region to implement and use IBM Technology
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IT Division Manager, TE-DataThankfully with Sumerge’s ECM solution we now rely on our electronic documents and moved our physical collateral documents to a safe fireproof warehouse, as we no longer need the documents onsite anymore
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Head of IT, EMRCWith Sumerge we seamlessly implemented automation for our loan appraisal process along with enterprise content management which empowered us to help more citizens find affordable housing more quickly
