Remittance Processing Overview

Checkmation SOAR®drastically reduces the time it takes to process check batches. This Solution Milestone will allow scanning of 50 checks in less than a minute. Verification and conversion to images and data takes less than five minutes. Checkmation SOAR® can also be customized to automatically post to accounting and archiving programs, saving on labor costs. Checkmation SOAR® offers its users a high percentage of same day cash availability, faster clearing, faster processing, reduced recording costs and elimination of check transportation costs.

CHECKMATION SOAR'S® SOLUTION ASSETS:

• CAR/LAR (Courtesy and Legal Amount Recognition);
  
• CRICR (Cross Referencing Intelligent Character Recognition);
  
• Amount acceptance and rejection;
  
• Simultaneous processing at multiple stations;
  
• Multiple payment types;
  
• Automatic check image endorsement;
  
• Payer recognition; Payee recognition; Signature recognition;
  
• Customer and account association;
  
• Customized export file;
  
• X9.37 Image Cash Letter conversion with automatic Record application;
  
• Image and data repository archive and retrieval;
  
• Data posting to accounting programs;
  
• Compatible with most check scanners;
  
• Network compatibility with scanner brand variety.

CHECKMATION SOAR'S® KEY BENEFITS:

• Drastically reduces check processing labor cost;
  
• Eliminates transportation cost;
  
• Eliminates costs associated with archiving physical checks;
  
• IDs inconsistencies;
  
• Vastly improves on clerical errors;
• Saves on banking fees;
  
• Expands cutoff times;
  
• Enables better float Management.
  

For Remittance Processing Overview click here

Sign up for a Remittance Processing Webinar!