Automatically Extract Checks from Business Documents for Check 21 Deposits

Checks are often embedded with other business documents such as contracts, invoices, cover letters and insurance benefits.  The typical process today includes scanning all the documents, manually bursting the checks, scanning the checks and somehow keeping track of which check goes with which set of documents.

All My Papers has developed software that automatically finds and extracts the check image from a scanned a scanned collection of documents and constructs a ICL/9.37/187 image cash letter file for exchange or remote deposit.

A better process is to scan once all the documents and then:

  • Find the check
  • Extract the check
  • Extract the MICR information
  • Prep the check for image exchange
  • Build the image cash letter
  • Format the image cash letter for exchange or for Remote Deposit in your bank's RDC file format

All My Papers has developed software that automatically finds and extracts the check image from a scanned a scanned collection of documents and constructs a ICL/9.37/187 image cash letter file for exchange or remote deposit.

With a collection of scanned images that includes a check, the challenge is maintaining the association of the check with correct supporting documents.  With AMP software the check does not have to be removed or burst from the other documents. You leave the check attached and the AMP software electronically removes the check.

Business Applications

Field Offices

Insurance, brokerage and wealth management companies are organizations that have remote field offices with various types of scanners such as flatbed or multifunction machines. Each of these offices receives a low volume of checks daily (10-100) but these checks may be of high value. This low volume precludes the use of a specialized check scanner or remote deposit software. This small volume of checks has to be transported physically to a branch bank for deposit or sent back to headquarters via courier or some other shipping carrier. The collection of funds represented by these paper checks that have to be physically transported, may take several days.

Now the checks and associated business documents and contracts can all be scanned together and sent to headquarters electronically. AMP software will look at the folder of scanned business documents and extract the checks automatically, find the MICR data and prepare the check image for exchange an even generate the check image cash letter file for deposit.

Medical Explanation of Benefits

Medical insurance Explanation of Benefits (EOB) are usually multi-page documents that contain an attached check. The EOB provides the detail the insurance benefits and what is covered or not covered by attached check. The old way consists of scanning twice;

  1. once for the whole document with the check attached and;
  2. then the second time for the check that has been burst from the EOB form.

Now the entire document can be scanned once with associated check and the AMP software can find and extract the check automatically and electronically. See the example below.

ampsol4-1Remittance Process of Wholesale Lock Box

Many organizations process remittance documents. A wholesale remittance document has the check and a detail explanation of how to apply the check to an account. There may other associated documents such as an invoice and cover letter.  If you are a business providing this service you have to scan the entire set of documents and then you have to manually burst the checks apart and scan them again with a check scanner.  Many times this a business service for many customers that deposit with multiple banks. After you burst the checks apart you have to run the checks through the remote deposit capture software for each bank. This can be a logistical and operational nightmare.

Now all the documents can be scanned full page and the AMP software automatically finds and extracts the check images and MICR code and builds the check image cash letter for exchange or remote deposit.

ampsol4-2

With AMP software checks are automatically found and extracted from business documents. To find more information contact sales@allmypapers.com  

Contact All My Papers
Contact All My Papers to automate Check Image Cash letter (ICL) file processing.