Bank of America Introduce Image-based Check Deposit and Clearing Pilot Program

Bank of America Global Treasury Services (GTS) has developed a remote deposit service for electronically clearing and settling checks. The service will provide its US clients with the ability to convert checks in their offices to ACH, based on ARC rules where eligible, and also use image-based technology to truncate remaining checks for electronic processing. The solution incorporates remote capture, decisioning and processing – including the creation of substitute checks/image replacement documents (IRDs), for electronic check processing, clearing and settlement.


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