AnyDoc introduces check processing solution
AnyDoc has released its new check processing solution, AnyDocDEPOSIT. Combining AnyDoc’s document and data capture technologies with classification and digital communication with banks, AnyDocDEPOSIT manages the Check 21 process (including inquiring and reviewing past check and deposit transactions), providing businesses with the tools to make customized, convenient digital deposits from their central and/or remote offices.
AnyDocDEPOSIT works in tandem with Infiniworx to automatically process incoming checks and money orders from scan to Check 21 deposit, for both individual checks and those attached to remittances without the need to manually burst checks.
Incoming checks are scanned with standard office scanners and the images are passed to Infiniworx, which extracts data from checks, including routing and account numbers (MICR data), check number and check amount using CAR/LAR recognition (Courtesy Amount/Legal Amount Recognition). The MICR data can be compared against a database to verify routing and account numbers, and retrieve the customer name if available.
Next, an image of the back of the check can be created (allowing single-sided scanning), and the check can be virtually endorsed for immediate or scheduled deposits. The check data and images are then exported to AnyDocDEPOSIT for further processing.
AnyDocDEPOSIT electronically creates and manages bank deposits, eliminating the need to physically deposit checks. Before making the deposit, AnyDocDEPOSIT also verifies there are no duplicate checks (or check images) in the cash letter. Deposits can be generated manually or created automatically based on user parameters such as the number of checks per deposit or at predetermined times during the day. The solution can also be set up to make deposits to more than one account at one or more banks automatically.
AnyDocDEPOSIT also features an online repository, allowing clients to retrieve deposit information status and view check images from a convenient browser-based interface.