DAYTON, Ohio — NCR Corp. (NYSE: NCR) is taking another step toward check truncation with the integration of the legacy 3890 reader/sorter into its ImageMark Transaction Manager system. According to a news release, with the technology, financial institutions can leverage Check 21 efficiency.
Bank personnel would traditionally encode the amount of every deposited check using magnetic-ink-character recognition. ImageMark Transaction Manager can now accept data and images captured from 3890s, providing an opportunity to eliminate amount-encoding. FIs also can reduce proof labor by approximately 35 percent.
The images and data also can then be posted and cleared through image-exchange networks simultaneously.
Large capital investments made in legacy 3890 reader/sorters and related software applications have been barriers to more widespread adoption of image proof-of-deposit for many FIs. However, with check volumes declining and image-exchange (Check 21) looming, banks are re-examining check encoding and capture processes.
"Check truncation and image exchange are making paper-based processing a thing of the past, much like e-mail has done to overnight mail delivery service," said Joe Kniceley, vice president of NCR?s Payment and Imaging Solutions division, Americas region. "The transition from systems that handle paper to those that handle electronic workflows will occur over many years, but it is important that banks plan well and not duplicate processing infrastructure and the associated costs. By integrating image-enabled 3890 sorters into ImageMark Transaction Manager, banks can protect investments in their legacy technology and position themselves for check truncation."
NCR has discontinued manufacture of its 7766 single-pocket proof encoder, the leading product in its class since its release in 1989. NCR will continue to provide maintenance for the 7766, but the company is making the shift toward the MICR-encoding trend, the release noted.
