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

Rapid Processing for Happy Customers

Real-time, highly personalized customer communications using existing client info and rapid transaction cycles

Fast and Steady Income Stream

Automation accelerates the check collection, clearing, approval and rejection cycles

Business Protection on All Fronts

Guaranteed regulatory compliance with real-time monitoring and automated validation to reduce chances of fraud

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

Ready to revolutionize your check collection and clearance process? Contact Sumerge today.

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internal checks clearing process - banking solution

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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