Scan the QR code to contact us today for a 1:1 discovery call. With more than 25 years in the deposits and payments industry, Alogent’s team of experts will share the latest in fraud techniques and how modern check processing solutions tackle both image processing and overhead costs — leaving your institution positioned for success with an agile, scalable approach. https://www.alogent.com/contact?utm_ campaign=ICBC%20Newsletter&utm_source=ICBC&utm_ medium=Newsletter&utm_term=NovDec Download an eBook by scanning the QR code to learn more. https://info.alogent.com/unify-ebook-video-icbc?utm_ campaign=ICBC%20Newsletter&utm_source=ICBC&utm_ medium=Newsletter&utm_term=NovDec • Duplicate checks: The industry is still facing an uphill battle managing and detecting duplicate checks — when the same item is deposited through more than one channel and/or multiple institutions. In addition to related fraud expenses, banks and credit unions also face potential double posting fees and other related processing expenses. • Chargebacks, returns and the back-office: Financial institutions commonly rely on separate solutions to process Day 1 and Day 2 items, increasing costs and decreasing efficiencies within the back‑office. In addition, many of these efforts involve manual research and corrections, costing time and money. REDUCING COSTS, SPEEDING PROCESSING AND IMPROVING EFFICIENCIES WITH MODERN PLATFORMS Since the days of Check 21, most financial institutions have relied on their image-based platforms without considering a change — “They’re doing their job, so why switch?” is often the response. Just like any other technology, there have been tremendous advancements in the last 20 years around image acquisition and processing. In addition to minimizing the cost of depositing a check, newer software platforms leverage more modern architectures, which improve automation and reduce manual keying, promote cross-channel consistency and data visibility, as well as allow banks and credit unions to reduce their overhead and time associated with testing, implementing and deploying updates and new products. These operational improvements ultimately have a trickle-down effect that reduces the risk for fraud with real-time analysis crosschannel, fewer errors and enable banks and credit unions to identify potential issues faster and before the check reaches the back-office workflow. THE UNIFY DIFFERENCE Built on the most modern technology today, Unify is a thin‑client cloud-native platform that streamlines and simplifies image acquisition and processing by allowing financial institutions to deploy the same platform and one external API across all Day 1 and Day 2 processing. The result: a reduction in the total cost of ownership, more streamlined check processing and increased automation — translating into improved efficiencies and better account holder services. INDEPENDENT REPORT | 33
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