Trust Department Disbursement Checks
Issuing securities disbursements to customers is a costly and time-consuming function for many financial institutions, leaving bankers asking themselves, "How can we extend the offer of securities disbursements to our customers in branch locations?"
Source Technologies' comprehensive on-demand disbursement solution combines our CheckPartner™ departmental check printing software and our secure, standard or multi-function MICR (magnetic ink character recognition) laser check printers. Together they provide a fast, cost-effective, and secure way to conduct remote, on-demand printing of MICR checks and other sensitive documents, while maintaining centralized approval and control of the process.
This solution gives banks with many locations a more efficient and effective method for printing all types of disbursement checks for customers - on site, rather than at a central location. Providing immediate payment to customers gives banks a two-fold advantage. Customers can come into the branch in order to pick up their check, creating an opportunity for face-to-face contact, and also customer service is enhanced by providing immediate payment rather than making them wait for it to be processed and mailed.
This system provides many benefits for financial institutions with multiple locations:
- Ability to request and print checks on-demand in every branch, nationwide
- Monitoring of check-printing activity at multiple branches from a central location
- Fully automated control, reporting, and auditing over your check issuance process
- Elimination of check fraud: on-demand payroll checks eliminate the cost of purchasing, handling, storing, and securing pre-printed check stock
- Distributed check printing eliminates check courier costs
With browser access to CheckPartner local staff can print MICR-encoded checks in real-time. And, the functionality of the MFP printer includes printing, scanning, copying and faxing. This allows for device consolidation and streamlining of business process workflow.
When combined, CheckPartner and Source Technologies' MICR printers offer the most secure way to print checks available today. All data is encrypted through the entire process, from the central location, to the remote PC and all the way to the printer. Source Technologies' printers "talk back" in real-time to CheckPartner, so you always know the status of your disbursements.
With Source Technologies' on-demand disbursement checks solution, secure documents can be sent in real-time. The implementation of a centrally managed system at your remote locations facilitates secure remote check printing, and can drastically cut operational expenses, and improve the service you're able to offer to your customers.
Trust Department Disbursement Checks: Highlights
- Central control and approval is maintained throughout the entire process
- Remote offices print approved checks on-demand for daily payment of temporary staff
- Easy to deploy and cost effective: Typical return on investment is approximately twelve months