The Image Deposit Exchange network was created as a response to the growing demand from businesses and banks to capitalize on Check 21 legislation that allows electronic check processing directly from their back offices. Image deposit removes many of the constraints of traditional paper-based bank checking practices while saving time and money.
Our purpose is to replace the manual process of moving paper checks between businesses and banks with a secure and completely electronic transaction. From image capture to check clearing to funds deposit and reporting, The Exchange provides the systems, services and support to create a truly paperless image deposit checking solution. Checking joins the 21st century This may at first sound like a radical idea for your customers when viewed against traditional paper-based checking practices that have essentially remained unchanged as other banking processes have evolved. Just remind them that other innovations such as Magnetic Ink Character Recognition (MICR), debit cards and ATM’s were all once considered novel and have now become staples of the industry.
The Exchange network views image deposit checking in the same vein and is dedicated to
bringing the convenience and cost savings of electronic check processing and deposit directly to your merchant and corporate customers' back office.
