Section 1: Introduction

 

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We all know the headache of microfilm: the poor image quality, the time it takes to respond to research requests, the difficulty in finding the item you need.

 

Yet until now financial institutions like yours have had few alternatives to microfilm.  In-house check imaging systems typically require a significant investment in hardware and software. The Federal Reserve Bank offers a check image service, but you still need to purchase and implement an in-house storage and retrieval system to get access to the check images. <NEXT>

 

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But what if there were an inexpensive solution to replacing microfilm? One that is easy to implement, requires no new hardware and costs significantly less in time and resources?

 

Read on, because C/VIEW is that solution.

 

Section 2: About C/VIEW

 

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C/VIEW is software, plain and simple. It is completely customizable to your institution’s needs, integrates with existing systems, and requires no additional hardware to access and manage the check image CDs provided by the Fed. The only requirements are a CD-ROM drive and Windows running on your PC. <NEXT>

 

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Consider C/VIEW the most cost-effective way to get rid of your microfilm. In conjunction with the Fed’s check image service, C/VIEW allows you to access, view and print from check image CDs. It also creates a catalog of pertinent information pulled from the CDs so your employees can have relevant check data at their fingertips. <NEXT>

 

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C/VIEW can also match the images delivered on CD-ROM to the items in the Fed’s Electronic Check Presentment (ECP) file so that you know about any missing items before your customer gets the statement.

 

Section 3: How it works

 

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The Fed creates digital images of all your checks and delivers them on CD-ROM. It also creates the computer file that is used to charge your customers. Each day, the file data is sent via Fedline and the CD-ROM is included with your regular courier delivery. <NEXT>

 

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When you receive a check image CD you simply load it into your PC’s CD-ROM drive and choose the “Add CD-ROM to Catalog” option.

C/VIEW, installed at your institution, tracks which CD contains which check’s information. C/VIEW immediately pulls check and account numbers, dates and amounts into a catalog that can be easily referenced by your employees. <NEXT>

 

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C/VIEW’s user-friendly interface lets you search the catalog for any item on any CD. If you need to view or print an image you simply refer to the catalog, which tells you which CD has the image you’re looking for. Only pertinent check information is stored in the catalog, thereby alleviating any need for expensive hardware to store large image files. <NEXT>

 

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C/VIEW’s tracking system can also ensure that all checks in the image file match up to the items in your ECP file. C/VIEW automatically reports missing images so you can submit cash letter adjustment requests as needed.

 

C/VIEW is completely customizable to your institution’s specific needs and integrates easily with your existing systems.

 

Section 4: Benefits

 

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You can count on significant time and resource savings.

 

Your checks no longer have to be processed through a reader/sorter and you can do away with most of your microfilm processes.

 

C/VIEW lets you take advantage of the Federal Reserve Bank’s Electronic Check Presentment (ECP) and check image services without the need for expensive hardware for image storage and retrieval. <NEXT>

 

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You’ll also have better check image quality.

 

When your employees go to retrieve a check image they’ll get a clear, crisp copy of the document. No more blurred numbers and illegible items.

 

With microfilm, the front and back of the check are usually on separate pages with no other information. C/View prints the front and back of each check on one page with a header that includes all the check information.

 

With C/VIEW you can also print multiple checks at the same time with up to four check images per page. <NEXT>

 

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This means improved customer service.

 

With microfilm, customer research requests take up to several days to process. Now your institution can pinpoint and access an individual check and handle these requests promptly.

A clear image of the check can be faxed electronically to the customer or respective branch, or the customer can request a clean printed image. <NEXT>

 

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You’ll also benefit from easier cash letter adjustments and better fraud control.

 

C/VIEW ensures that all images delivered on the Fed’s check image CD match up to the items presented on the ECP file. C/VIEW automatically generates a report of any missing items so your institution can submit a cash letter adjustment request.

 

No more waiting for microfilm to be developed. Your check images are available as soon as you receive the CD-ROM from the Fed. With easier and faster access to check images, you can better control fraudulent activity.

 

Used in conjunction with the Fed’s ECP and check image services, C/VIEW is the #1 solution that helps you do away with microfilm, improves check handling and accuracy, and costs far less to implement than other check imaging services.

 

Section 5: Implementation

 

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C/VIEW is fully compatible with the Federal Reserve Bank’s check image service. Here are three easy steps to getting started with C/VIEW:

 

  1. Contact your account manager to initiate ECP as well as check imaging.

 

  1. Plan for minor procedural changes that may come about as a result of implementing the Fed’s ECP and check image service. Keep in mind the overall positive impact on operations and resources this transition will have – and be sure to rely on Legato Software to help with the process.

 

  1. Install C/VIEW on-site as you begin implementation of the Fed’s services. This will allow you to view the first test images sent to you on CD-ROM.

Let C/VIEW begin cataloging your check image information.

 

Section 6: Case Study – Sterling Bank

 

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Sterling Bank is a $150 million, 11 year-old community bank headquartered in Mt. Laurel, NJ with 6 branches in the South Jersey region.

 

Sterling uses software from Jack Henry & Associates, Inc., running on an AS/400 to handle its primary data processing, and several NCR reader/sorters to handle proof work. <NEXT>

 

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Like many financial institutions, Sterling was looking to replace its aging microfilm system with a more efficient method of handling its check storage and retrieval needs. Sterling was aware of the movement towards check imaging in the banking industry but never actually considered having its own imaging system. This was

mainly because of the large scale and expense of installing hardware for image storage and retrieval. Sterling also had other priorities that included branch expansion and a major data processing conversion. <NEXT>

 

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When Sterling heard about the Fed’s check image service it began to take a closer look at the possibilities.

 

But how would the bank be able to read the check images and handle the data without all the equipment needed to image in-house?

 

That’s when Legato Software came along with an inexpensive, but highly effective solution: C/VIEW. <NEXT>

 

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The fact that C/VIEW alleviates the need for an archival system meant that Sterling could use the Fed’s check image service, but instead of downloading images onto its own system, Sterling could simply leave the images on CD-ROM and access them individually with C/VIEW. The only information stored in the C/VIEW catalog is pertinent data about each image stored on CD-ROM. <NEXT>

 

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Now Sterling simply puts the CD-ROM into a PC and lets C/VIEW use each CD’s data to add to its catalog of check image information. The CD gets stored but can be referenced easily at any time with C/VIEW. Sterling employees can search the catalog for CD, account or check numbers, pull the relevant CD and print a check image immediately.

 

Sterling uses the CD-ROM images to look at all un-posted items as well as any overdrafts and stop payments, and kiting suspects that may need special attention. This process alone saves Sterling a tremendous amount of time because employees previously had to search for such items manually. <NEXT>

 

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“C/VIEW is the final yet crucial component that allows us to take advantage of the Fed’s check image service and minimize our microfilm processes,” says Williams. “It’s also the most economical choice for a bank of our size since it effectively addresses the concern of having to invest in an archival system.” </END PULL QUOTE>

 

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In the end, Sterling was able to do away with most of its microfilm processes and all the accompanying “surprises”. Because of the delay in getting microfilm developed Sterling never knew when its equipment needed adjusting until the film came back with affected items.

 

The bank now receives digital images of each check, which are monitored in real time by the Fed so that adjustments can be made as needed. Endorsements, dates, amounts and account numbers are clear and easy to read.

 

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“Considering Sterling was the first community bank to have its cash letter items imaged by the Federal Reserve Bank of Philadelphia,” explains Debbie Williams, Vice President of Sterling Bank, “the whole implementation process was quite painless. The Fed was very flexible in working out the details of the service with us.” </END PULL QUOTE>

 

For a thorough look at Sterling Bank’s transition using the Fed’s ECP and check image services in conjunction with C/VIEW, please refer to Sterling Bank: Complete Case Study, a downloadable .pdf file.