A Top Ten US bank implements e-DocSecure™ to print MICR check, on-demand, enterprise-wide

This Top Ten bank chose e-DocSecure because...

• It lets them easily and securely print, void, or reissue MICR checks, money orders, and other transaction related items, plus electronic disbursements
• e-DocSecure provides centralized visibility and control over disbursement requests, approvals and printing in real time via the corporate network, intranet, or Internet
• Used with Source Technologies' MICR printers, they did away with preprinted checks, dramatically cut issuance costs, and eliminated official check fraud

About the Customer

As one of the ten largest banks in the United States, this company serves one-in-four households in the country, transacting with more than 150 customers per second, to provide financial products, services, ideas, and solutions. More than 3.2 million American families hold mortgages with this institution.

They recently developed a new end-to-end solution for consumer real estate credit, which enables customers to obtain point-of-sale loan decisions on a range of primary mortgages. They were looking for a check issuance process to support this new point-of-sale system.

What We Found

Before implementation of e-DocSecure, the official check process required emailing a request form to the approver, who would print out the form, sign it, then forward the hardcopy authorization back to the requestor. With printed authorization in hand, the requestor used a special PC to enter the request and authorization information into the system, and print the check.

The bank needed to replace this outdated process with a system that would be efficient and fast enough to keep up with the new point-of-sale credit solution. It would need to operate on disparate platforms and in some small, rather remote offices. It needed to conform to the bank's new network standards and, at a minimum, automate the printing of mortgage, HELOC (Home Equity Line of Credit) and manual checks.

ST Solution

e-DocSecure is Source Technologies' software solution for secure, real-time disbursement. It provides a fast, cost-effective, and secure way for remote locations and staff to request and print MICR laser checks, electronic disbursements, and other sensitive documents on-demand, while maintaining centralized approval and control.

After evaluating several check-writing systems, the bank selected e-DocSecure because it gave them a robust, highly secure disbursement solution. With this new automated check printing process, the mortgage staff and managers now request, approve, and print mortgage, HELOC, and manual checks easily and quickly, allowing them to heighten customer service and redirect valuable man-hours.

Combined with Source Technologies' secure MICR laser printers, e-DocSecure gave the bank something they didn’t expect - a system that eliminated pre-printed checks, manual check issuance, and official check fraud. This capability along with their experience with e-DocSecure printing mortgage checks convinced them to expand its use to the teller counter. Integrated with the teller platform, tellers now request and issue high quality checks printed on blank check stock to customers in less than a minute.

e-DocSecure is Internet-based, so there is no costly client software to buy or support. Authorized users access the system using any PC Web browser to print on-demand, 24 hours a day, seven days a week. And by printing to Source Technologies' MICR laser printers, the bank enjoys unmatched security features that virtually eliminate check fraud.