The Secure eCheck Remote Deposit Capture Program

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Remote Deposit Capture
Inovium Corporation
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What is Remote Deposit Capture? (RDC)
Scan Checks Remotely Electronically Deposit and
Clear YOU GET YOUR MONEY FASTER
Bank
Your Location
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The Old Way Manual Deposit Process
Consumer mails payment to the corporation
Check received, opened, data entry and
information uploads to the accounts receivables,
customer, and other databases.
Deposit prepared including counting the number of
checks and adding the value of checks at least
twice to ensure accuracy.
Deposit is physically transported to bank for
deposit.
Up to 5 days for deposits, clearing, settlement
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Paper to Electronic
Check received via mail or at a payment center
Paper check and transaction data converted to
electronic image
Processor compiles files and submits to Federal
Reserve
Federal Reserve clears
Money settled to existing depository account
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ACH Accounts Receivable Conversion (ARC)

• Governed by complicated NACHA rules
• ACH network is batch oriented
• Slower money settlement
• Additional work needed to separate checks

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RDC Best New Way
Faster
Funds can settle next business day
Flexible
ALL CHECK TYPES

• Business
• Corporate
• Government

• Consumer
• Cashier
• Travelers

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Overview of the Transaction Process
The scanner is connected via USB. The scanner
creates TIF Images of the checks. Images are
sent via secure connection over internet to
secure server where images are analyzed to be
certain that it is a legitimate and has the
necessary attributes for successful image
processing. Images sent to the Federal Reserve.
Cleared funds settle to your existing bank
account.
Your enterprise application, or utility software
Checks are scanned into the imager either
individually, at the point of payment, or in bulk
RDC Platform with Image Archive, Transaction
Management, and Export Utilities
High-speed Internet or LAN
Federal Reserve Bank
Your Depository Bank
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RDC Growth
Locations
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RDC Growth
Volumes
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RDC Growth
Values
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Lightening Fast Authorization

• In a POS environment, an authorization message is
  returned indicating the acceptance of the
  transaction within approximately three seconds
• In a bulk processing environment the check
  images can processed individually or complied
  into a batch which can be reviewed, edited, coded
  and submitted at the Clients option 

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Results

• Fast Settlement for increased cash flow and
  improved credit rating
• Reduce transportation costs with fewer trips to
  the bank reduced courier or mail fees
• Increased Productivity Save time processing
  checks, creating and making bank deposits,
  correcting errors, categorizing payments,
  applying payments to billing files or registers
  and maintaining detailed records and copies of
  payments.
• Extended deposit deadlines
• Deposits up to 800 PM EST

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Improve Streamline Operations

• Improved disaster recovery
• Permanent archive of check images
• Eliminate sorting, storing, or managing physical
  checks
• Consolidated bank accounts
• Reduce analysis, reconciliation, and management
  fees
• Streamline Operations
• Fast recording and accounting of receipts and
  payments
• Eliminate manual entries through unique Optical
  Character Recognition that instantly reads all
  hand written items on the check
• Verifies the account and account holder
• Quick capture of fraudulent checks

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Benefits

• Accurate Electronic Cash Letters
• Clear image software (CAR/LAR) on server (not
  scanner)
• Ensures accuracy in files and cash letters
• Eliminate Manual Endorsements
• Endorsement automatically placed on the check
  image
• Private Labeling (10,000 transactions/month)
• Branding reinforces your image as a
  technologically advanced organization

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Added Value Multi-Function Platform
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Multi-Channel on Single Platform Optimal
Flexibilty
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Easy Reporting

• Transaction Reports by day, batch, week, month,
  year, client, purpose or ledger category
• Select any transaction to see the images appended
  to that transaction and other transaction detail

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Compile and Review Reports with Ease

• Daily Transaction Report notifies Client of any
  Returned Items and displays total batch for the
  day
• Images and details become part of permanent
  archive
• Daily batch review

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Reconciliation and Ledger Management

• Easily create purposes and apply ledger account
  codes

• Payments can be coded by purpose, ledger account
  and more. Other data, notes, payer information
  and an accompanying image can be appended to the
  transaction and stored in the archive. 

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Start Today
New passive income steam to you Predictable
recurring revenue Gives you a competitive
advantage Gain larger market share Customers
want the service Saves your customers money