Check 21 Processing
The Check Clearing for the 21st Century Act went into effect in 2004. Known to everyone now as "Check 21," the act authorizes any bank to create a "substitute check" from an image of a check and makes it the legal equivalent of the original.
Under Check 21, no bank is required to implement imaging, but everyone (bank, business or individual) is required to accept and honor substitute checks. This cleverly allows image-enabled banks to clear checks between themselves via images, then to create a substitute check only when clearing to or through a non-image-enabled bank.
ICS can provide Tangent Systems Check 21-enabled remittance and check processing solutions, or modify any existing Tangent solution to generate image cash letters. The service-oriented architecture (SOA) of their Deposit21 product, means that it can also be easily integrated with third-party or internally developed payment processing solutions.