Checks Collection & Clearing

Faster clearing, collection and return

Despite the move towards a cashless society, checks are still used in large quantities and their obvious role as a voucher-based payment system is undeniable. However, bounced and returned checks are a real pain for all businesses as recovering funds is costly and time-consuming process that impedes cash flow and limits bottom-line profitability.

Sumerge’s checks collection and clearance solution is a complete automated end-to-end platform that reduces the time taken to clear checks by capturing, digitizing and automating check operations and seamlessly integrating with central clearing houses.

Solution Benefits

Improved Customer Experience

Highly personalized customer communications in real-time, using client information & faster transaction cycles.

Faster collection, clearing, collection & checks return

Automation of the clearing process, with the subsequent approval & rejection cycles will increases productivity and efficiency.

Guaranteed Regulatory Compliance

Real-time monitoring and automated validation significantly reduce the chances of fraud.

Full Visibility For Faster & Accurate Decisions

Better insights into both information processing and transaction efficiency, leading to a more informed decisions.

Solution Capabilities

Check Image Capturing

With Optical Character Recognition and Intelligent Character Recognition

Workflow Automation

Optimize check processing operations to reduce data entry & duplication errors

Check Case Management

Handle unstructured processes and adhoc tasks for improved collaboration.

Integration with Core Banking

Transfer information from & to core banking system for checks settlement.

Automated Compliance

Automatic regulatory compliance checks with credit history, AML status and blacklist

Reporting & Dashboards

Automatically generates check presentment and return reports

Interested to know more or want to request a demo

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