CheckLogic™ Lite

CheckLogic™ Lite’s remote deposit capabilities turn the process of depositing checks into a snap!  A critical component to your overall e-Document Strategy, CheckLogic™ Lite is a high-quality, cost efficient, Internet based solution for members of all kinds, merchants or natural person members to make deposits from their home or business.  Member deposit has never been simpler – your member simply places the check into their scanner at home or wherever they are and scans the check using CheckLogic™ Lite’s advanced capture and electronic image forward processing.  CheckLogic™ Lite’s intelligence informs you of the deposit request and allows you to authorize the deposit.  No middlemen or other financial institutions stand between you and your members. 

 

CheckLogic™ Lite’s advanced MICR reading and image character recognition (“ICR”) programs to perform a scan of MICR and non-MICR information on drafts, allowing your staff to review and approve using the logical workflow provided as part of the system.

 

CheckLogic™ Lite’s next generation of Check21 strategies, as a part of your overall e-Document strategy brings complete integration for your overall e-Document strategy.  CheckLogic™ Lite’s administrative platform for deposit approvals ensures you don’t accept unwanted risk.  Complete access for both members and staff to deposit details and a comprehensive workflow creates a system easy to use by your staff and generates a high quality service experience for your members.  CheckLogic™ Lite’s balancing reports record the teller, member account and deposit history for full-feature balancing capability.  Easy-to-use user interface makes CheckLogic™ Lite’s operations possible for any employee to use with minimal training.  

 

CheckLogic™ Lite transactions weigh favorably against traditional costs per deposit incurred at credit unions. Compared with an average $1.75 per mail-in deposit, $2.25 per deposit at foreign ATMs, and nearly $3 per shared-branching deposit, transactions using CheckLogic™ Lite bear average costs of less than 25 cents.

 

Unlike other remote-deposit programs, CheckLogic™ Lite uses the same administrative platform, same cost-structure and same process for accepting deposits from consumer and business members.  What is the buzz about at-home deposit service?  It’s a social passion that is on the rise, with growth driven largely by your members’ desire for convenience.  Using CheckLogic™ Lite, the market leader in e-Document Strategies, you gain a strategic solution for all their remote deposit capture needs and an experienced peer and partner that can ensure your program’s success.

 

Key Product Features

  • Members can make deposits anywhere, anytime – 24×7x365.
  • Free up lobby deposit traffic with through remote deposit use.
  • Expand your business to areas you didn’t think possible
  • Limit branch transactional costs by using remote capture.
  • Research items through the comprehensive image database.
  • Maintain an historical record of your item processing for compliance and review.
  • Provide individual daily deposits for each branch for easy reconciliation and accounting.
  • Remain financially viable and competitive within an increasingly competitive industry.
  • Security features include duplicate check fraud check, image rescan, image review and teller or branch balancing reports. 
  • Automate workflow to speed through deposit approvals and repair of individual check items. 
  • Centralized database for storage in 2020DOC©.  This allows the credit union to store and own the image data in 2020DOC©.  Having the storage and retrieval may allow you to eliminate costs from corporate for check retrieval both by staff and members through the internet.  If you’re corporate credit union provides you a check image retrial system, 2020DOC© may not be necessary and is not required to use CheckLogic.
  • The accounting capability to balance the checks with the credit documents and ensure the batch total.
  • Member document portal access for image copies and interactive eStatements.