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A rapid move to broadband connections for all elements of society is now taking place. This will allow banks to eliminate the last major manual operation in check processing, sending statements. The MICR Automation Internet System provides for perpetual online Internet access to statement page images, with email notification each time a new statement is created. The system provides images of all checks and deposit tickets, and also provides images of items in deposits.
MICR Automation provides for the creation of virtual tickets for non-proof transactions such as debit cards, ACH entries, and service charges. These virtual items contain a description of the entry overlaid on a selected background, and allow the customer to see an explanation of every transaction affecting an account.
Old fashioned image statements, involving thousands of printed pages, and containing only small images of the front sides of checks, will disappear in this environment. Full size images of both sides of checks, instantly available online, and showing all details, will be the surviving technology.
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