VisionIP: Check21

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The VisionIP: Check 21 module extends conventional item processing to handle all electronic and distributed item processing needs. This includes receiving remote deposit files, electronic image based in-clearings (ICL), Image Quality Assurance and Usability, Substitute Check and IRD creation, and image exchange with several exchanges including FED and Endpoint Exchange.

VisionIP: Check 21, when combined with VisionIP: Traditional Image, provides financial institutions with an "end-to-end" image-enabled, electronic payments environment.

Image Exchange

Check image exchange is quickly emerging as the primary method for clearing and settling check payments in a post-Check 21 world. The true benefits of check image exchange are realized when the thousands of "endpoints" - financial institutions across the country maintaining checking accounts - are able to send and receive images for clearing and settlement. Interoperability between image exchange networks will become an increasingly important factor in the industry's adoption of check image exchange and continued ability to maximize the benefits of Check 21.

As nationwide adoption of check image exchange continues to grow, VisionIP: Check 21 will provide you with the platform to exchange check images through all of the leading networks - Endpoint Exchange, SVPCo, and the Federal Reserve.A Metavante® Company

VisionIP: Check 21 embraces interoperability for all IP platforms, allowing for efficient check image exchange with other financial institutions, despite any system and/or platform processing differences.

VisionIP: Check 21 provides a "virtual capture" service, reducing the overhead of managing thousands of new endpoint relationships. VisionIP: Check 21 can be deployed in multi-institution or correspondent bank processing environments.

VisionIP: Check 21 automatically identifies and processes input based on source information. Utilizing a user-customized workflow, VisionIP: Check 21 can be set-up to automate selected edits and perform image quality assurance on incoming items.

IRD and Substitute Check

Under Check 21, banks, credit unions, and savings institutions will be able to use digital images and electronic check information to create substitute checks. This allows financial institutions to collect and return checks more quickly without waiting for the original checks to be delivered to the institution's processing operation. These substitute checks serve as the legal equivalent of the original check and will be used in situations where a paper version of a check is required after the original has been imaged and truncated.

VisionIP Check 21 provides Substitute Checks for forward presentment, outgoing returns, and customer chargebacks. The solution will also print IRDs for non-truncated statements and customer notifications.

Image Quality Assurance

VisionIP: Check 21 Image Quality Assurance (IQA) tests check images for potential image defects and usability problems.

VisionIP: Check 21 IQA image quality and usability tests meet the 16 quality indicators defined by the FSTC and addresses your institution's need for consistent check image integrity and availability and improves reliability for exchange between collecting and paying banks.