REMITTANCE PROCESSING
Payment receipts (remittance slips) accompanied by the actual check payment are a common form of payment among many industries including insurance, government, utilities, and mail order in which large volumes of check payments must be processed on a regular basis. The image of the remittance slips and checks are captured and used for processing of the transaction.
The processing centers perform image recognition tests such as CAR/LAR, MICR, barcode, or optical character recognition (OCR) to automate expensive and error prone data entry. Using a tabletop check scanner also provides the ability to automate debit/credit balancing of the transaction by encoding the amount on each check. Additional capabilities include the creation of the transaction audit trail, generation of a check listing as required by the bank, and capture of a digital image of the transaction for archival purposes. This represents significant opportunities for reduction of operational costs and transaction errors while creating capabilities for faster and more accurate customer service.