Achieve Faster Exception Payment Decisions
X9 Exception Manager is a complete image cash letter system for managing payment decisions on all inclearing items including Transit and ONUS from any clearing network or deposit channels such as Branch, ATM, Remote Deposit or Remittance Processing for your financial institution.
The latest update to the Federal Reserve Board Regulation CC will be effective, July 2018. One of the major provisions of the new rules amendment is the requirement for expeditious process of image (electronic) check items. Current check item processing software solutions often bog down when dealing with exception items, frequently delaying them to Day 2.
X9 Exception Manager is an application for automating and managing decisions regarding all check items contained in ICL files. These check items can be forward presentment checks and drafts.
Using MICR field data (transcodes, routing numbers and other data) contained in the ICL file, the software categorizes items and routes to the business unit responsible for making payment decisions.
Using configurable business rules, X9 Exception Manager can automate payment decisions and flag items to be reviewed by designated internal business groups. The efficiency gained can result in same day payment processing and return disposition.
X9 Exception Manager integrates with accounting, general ledger, check processing and image archive systems. This means there is no need to replace expensive core systems.
X9 EXCEPTIONS MANAGER
Working with the New Federal Reserve Bank Reg CC
Time is Money
The Federal Reserve Bank recently changed Reg CC rules, which will be effective, July 2018. One of the changes reduces the amount of time allowed for Returns. Efficient exception processing can ensure regulatory compliance.
Contact All My Papers
Contact All My Papers to automate Check Image Cash letter (ICL) file processing.