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Remote Lockbox is an expanded version of the MICR Automation Remote Deposit Capture system. It combines the features in the image-enabled lockbox system with all the features in Remote Deposit.
The bill return portions of customer payments are scanned, followed by their checks. Using expanded CAR/LAR recognition software, the data is read from the bill return portion, including the handwritten part in which the customer puts the amount paid, and the amount is read from the check. One or multiple simultaneous scanners are supported.
The check images are sent securely to the bank via the Internet, and the data from the return portion of the bill is sent to the customer’s system. At the bank, the check images are run through the CAR/LAR process to catch mistakes, and then checked to prevent duplicate deposits of the same item. A detailed deposit receipt is then prepared and returned to the customer via the same secure link.
After scanning and balancing, the images and data of both the bill return portions and the checks are placed into a database on the customer network, allowing lookup and viewing of images of all parts of each transaction. Once any item is found, a button allows viewing of images of items before and after that item. The check used to pay an item, or the return ticket associated with a check, can be viewed instantly. Shuffled items can be viewed, and mistakes can be seen and corrected easily.
Utilities, schools and governments, propane dealers, trash collectors, oil dealers, property rental organizations, and many others can use this to automate their accounts receivable processing. The lockbox work formerly done at the bank is now done by the customer. The bank just clears the check images.
With the pre-authorized draft creation feature, users can collect past due bills by asking their customers for their check data. The pre-authorized draft images are sent to the bank along with their check images. Scheduled monthly creation of pre-authorized drafts is provided, and the system can optionally send an email to the customer whose account will be charged advising them of the coming draft.
The system also provides for operation at both the customer and the bank. In the case of utilities whose bills may be paid at a bank teller, the system can run at the bank as a regular lockbox application. The data files to update the customer system and image database, along with the detailed deposit tickets, are sent as encrypted email attachments to the customer. Upon opening the email attachments, an automatic process decrypts the attachments, moves the data into the proper folders, and updates the customer image database.
Remote Lockbox allows bank customers to automate their bill receipts in a way never before possible. It provides banks with a powerful new tool to attract or retain business accounts and streamline their processing. |
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Remote Lockbox |
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Image Archive provides the customer direct search and viewing of all items in every transaction, allowing easy resolution of shuffled items
The payment data is automatically formatted into the customer’s accounts receivable system input format
All billers can use Remote Lockbox to automate and streamline their payment processing
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Scans both the check and the payment coupon and assigns amounts and account numbers using expanded CAR/LAR |