Society’s New Software Takes the Pain out of Cheque Processing

18 June 2009

Top 25 Building Society Hinckley and Rugby has installed a cheque and cash deposit management system, Checkprint Banking Assistant, which combines a desktop scanner to capture the image and details from the cheques, with comprehensive software that uses this data to create and balance the batch for banking and generate a searchable archive of cheque data and images. The Society has Banking Assistant networked across its 11 branches.

Finance director Andrew Payton explained the background, “There has been discussion in the finance industry for some time now about the imminent demise of cheques but we’re not seeing any evidence of that, particularly with savers, the majority of whom tend to pay into their accounts using cheques.

“We’ve found Banking Assistant particularly useful in cases where there is a query over a particular cheque. Due to the requirements around clearing cheques within a certain time frame, we used to be in a situation where we would sometimes have to authorise a cheque, even if there was a query over it, while we waited for it to be sent back from the processing centre. Now we are able to quickly and easily track back through all our cheques with an image available of every deposit we make.”

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