Banking Solution for Processing Millions of Items Daily

As a service provider company, banking business is all about dealing with finance. Everyday there are millions of transaction including billing, deposit, withdrawing, loan and other transactions. Behind this hard work there are many things that matter and means to help this work.

It is quite challenging to handle millions transactions daily but it is not impossible to make it works with your team and technology.

There are many companies around the globe are providing there service to help new banking company running in a proper way.

If you are taking a look at this two pages brochure of xerox, you will be able to see how they actually will check your company to give your solution. This 2-pages-long brochure will show you 2 days working closely with your company as a whole:

Day One Process 
Center Capture – Our processing teams are responsible for receiving, logging and preparing all work received from non back-counter bank branches as well as bank clients for processing. Department personnel ensure items are handled is in compliance with regulations and client requirements.
These items are processed through a document transport to capture the image and MICR code-line data of the item.
Electronic Item Processing – Electronic files are received from the following sources:

• Electronic files from Center Capture (see above) 

• ATM/ITM – Bank devices in their geographic areas 

• Mobile devices – Smart phones and tablets 

• OCD files – Online check deposits from customer capture devices 

• ICL files – Image cash letter files from large commercial clients, image lockbox files

• Back-Counter Capture – Images and data from bank branches 

• Incoming electronic files from financial institutions including the Federal Reserve 

Document images from these sources are analyzed for quality and proper data. Any items whose amount cannot be read or have other MICR code-line errors are keyed by an operator using an image of the item. Once all images and code-line data have been corrected, credit/debit balancing is performed to ensure that data-perfected files
Day Two Process 
“Day Two” commences the morning after Day One transactions have officially posted. Several sub-categories are included in Day Two, which encompass both ACH and paper transactions.
Outgoing Returns – This is the main component of Day Two item processing and is focused on the processing of all “NSF” (overdrawn) checks. Outgoing return items are processed the same afternoon according to client-specific parameters, and sent back to the client banks’ data centers for account updating or back to the originating financial institution. The end-customer via US mail to inform them of their NSF item and how it was handled. Within Outgoing Returns, we also handle Suspect and Stop Payment processing.
Incoming Returns – These are checks associated with a bank customer’s deposit that were issued from other parties and dishonored by the payee bank. These items are charged back to the depositing account. Notification is sent to the customer on behalf of the client bank. Within incoming returns, there is a significant amount of specialized processing. These “special instructions” are processed according to client specifications.
Research – This department locates and produces copies of archived financial documents related to requests associated with audits, tax and legal needs, and other consumer requests. Documents are delivered through multiple avenues such as mail, fax, or CD ROM.
Adjustments – Our Adjustments team works to promptly resolve issues or discrepancies for bank customers as well as between the client bank and other financial institutions.
Output Review – Client branches and internal departments scan documents based on client guidelines. We receive these electronic documents and index them into queues in the Xerox® Transaction Content Management application. Each XTCM queue is assigned to specific areas for further processing.
Domestic and Foreign Check Collection – Domestic and foreign check collections are items presented for collection and final payment. There are a number of cash letter agreements with foreign banks to provide quick settlement for checks drawn in different countries and currencies.

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