Check Truncation Act (CTA) - known as Check 21 or Check Clearing for the 21st Century - is possibly the most important change that affects the financial industry as a whole in the last forty years. The Check 21 law creates a standard called Image Replacement Document or IRD. IRDs are documents created with the original check's front and rear image. IRDs also contain all of the check's encoded MICR data. To take full advantage of Check 21, financial institutions will need the ability to generate, accept and archive check images and data. This will produce substantial savings in the handling and movement of check related transactions that will no longer need to rely on couriers, planes, trains and/or armored transport for the clearing of physical drafts.
Since the Check 21 Act became official on October 28, 2004, your community financial institution can benefit from investing in proven imaging technology to cut operating costs, reduce fraud and prepare for new regulatory changes. Automated Systems can help your financial institution today with your imaging solutions:
What is Check 21?
Automated Systems, Inc. Check 21 Solutions
Check 21 Benefits
Check 21 Terms and Definitions
Important Check 21 Dates
Sample Check 21 Images
If you would like more information about how Automated Systems, Inc. can assist your financial institution in Check 21 related solutions, please contact us: