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With the enactment of Check21 legislation in the US in 2004, check processing has entered a new era of technological advances. Financial institutions can now convert checks into an electronic image early in the presentment cycle and reduce or even eliminate paper handling. Check21 can be used to save processing costs in transportation, labor, infrastructure and other areas.
Avalon has created an image-based payment processing solution to allow institutions to take full advantage of the post Check21 world. Our solution is unlike many others, for it is a completely end-to-end paperless solution.
EXTENSIVE RANGE OF SOLUTIONS
Avalon’s revolutionary new payment solution ImagePoint™ combines the latest advances in technology with the regulatory advances promised by Check21. We offer a complete range of solutions that deliver effectively the benefits promised by Check21. |
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Cutting edge item processing solutions for Check21 and more... |
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Wide range of available products for your needs...
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IMAGE EXCHANGE
The most significant benefit of Check21 is the ability for financial institutions to exchange check images replacing the traditional paper clearing. Avalon provides a seamless Image Exchange solution that works with most existing check processing systems.
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DISTRIBUTED CAPTURE
Paper item truncation and point of presentment processing are two movements gaining more and more support in the financial industry today as a result of the Check21 Act. Avalon’s Distributed Capture solution includes Branch front and back office, Merchant, Corporate, and
Remote Capture possibilities for your organization.
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IMAGE QUALITY AND USABILITY ANALYSIS
With the Check21 legislation the emphasis has been placed on ensuring that all check images—including personal, business, and Image Replacement Documents (IRDs), are accurate and used properly. Avalon’s suite of products include sophisticated interfaces and applications for the analysis, review and re-scanning of items and their images to reduce returns and improve image validity.
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IRD PRINTING
Substitute checks, commonly called IRDs (Image Replacement Documents), are now required within the Check21 environment to provide paper substitute items, when needed, where images only of the items are available. Avalon provides the ability to control and print IRDS, ad hoc or in batches, at the points of presentment.
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FRAUD DETECTION
Security and fraud detection are critical in the handling of item images in a Check21 environment. The Avalon suite of products have been developed with the latest leading-edge software interfaces and controls to provide the best methods in lowering costs associated with recognizing and handling counterfeit or fraudulent items.
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