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The Check21 legislation requires the ability to create substitute documents, generally referred to as IRDs (Image Replacement Documents), using the original image of the item, when a paper item is requested by endpoints or organizations. This can greatly lower the costs of handling return items and item transportation costs by producing the IRDs at the point of presentment or close to the endpoint. The IRDs also assist in transitioning financial processing centers to a more image-based one by providing paper items to only those still processing paper items, thus lowering costs throughout the workflow. The use of IRDs can also affect the cut-off times and availability schedules for clearing so that immediate savings are realized for the payment processing center.
Within Avalon’s Image Exchange solution, a rules-based Image Replacement Document (IRD) production facility can be used to print ad hoc and batch IRDs. This advanced system keeps an audit of IRDs printed and prevents duplicate IRD production. Being compliant with the
X9 Standard for IRDs, Avalon’s IRD solution supports a wide range of printers and supports routing to multiple destinations such as remote, local, or third party sites. Advices to the depositor can also be created with the IRD, in item return situations, and the corrected code line is incorporated into the IRD. The print requirements are tied to endpoints and the product provides automated routing to print systems with configurable status management for when and where and the number of copies to be printed.
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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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