Today's American Banker discuses the possibility to combining the new image clearing network (created as a result of Check 21) and the automated clearing house (ACH) network thereby increasing the number of collection endpoints for settling check images. This article is based on a panel discussion last week at NACHA's Payments 2006 conference.
One of the primary hurdles of Check 21 image clearing is the limited number of banks that are capable of receiving image cash letters from other banks. As a result, the Federal Reserve prints "IRD" copies of checks that were scanned and truncated upon receipt at the bank of first deposit.
The Tech Scene: New Project Could Link ACH, Image Networks
American Banker (subscription required)
Wednesday, May 17, 2006
By Will Wade
During her time at Glenbrook, Erin focused on client engagements in business payments, cross-border transactions, bill payment, and the intersection of corporate finance, banking, and ERP/accounting. She has nearly twenty years of experience leading increasingly complex payment initiatives for corporate clients and advising financial institutions and payment technologists on the development of their payment capabilities.
Erin is also the founder of Forte Financial, a consulting firm focused on corporate finance efficiency, technology, and process improvement. She is a past president of the Financial Women’s Association of San Francisco and also a two-term past president of the San Francisco Treasury Management Association. Erin is no longer with Glenbrook, but contributed greatly during her time at the firm.