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Source Technologies’ Secure MICR Printing & Self-Service Blog

Watch: In-House MICR Check Printer Solution Saves Money & Time for Banks

Walk through a day in the life of a teller issuing cashier’s checks using pre-printed check stock, rewind and then walk through the teller’s day using Source Technologies’ in-house secure printing solution.

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How Personal Teller Machines Transform Service in the Branch

There are five channels that consumers use to interact with their financial institutions: mobile, online, call center, ATM and the brick-and-mortar branch. All of these channels have seen significant investment...

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Customized Starter Checks Increase Bank Revenue

When a customer opens a new bank account, they are given a pack of pre-printed temporary starter checks to use while their personalized checks are ordered and shipped.

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Video Teller vs. Personal Teller Machine

When was the last time you were completing a transaction on a self-service kiosk? It was likely at a grocery store self-check-out or an ATM machine. In both cases, if you have a short, simple transaction, you seek out the self-service kiosk option. However, if you have a more complex transaction, you seek an option that offers assistance.

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The Branch Business Case for a Secure MICR Solution

When we speak to financial institutions about issuing official checks in the branch, we often find that their current process is a manual one, involving pre-printed checks and a laser printer, dot matrix printer, or even a typewriter, believe it or not!. Sometimes the financial institution struggles to see the ROI in changing their process to an automated, secure MICR solution, since it involves an investment of capital to purchase the MICR hardware and software. However, a secure MICR solution actually saves money, and most of our customers see a solid ROI in less than two years.

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Improve the Accounts Payable Process: Switch to MICR Check Printers

Accounts Payable is a critical function of every business, and it’s important that invoices are paid quickly and efficiently. While personal check payments have been declining over the past decade, the majority of businesses still use check payments to pay their bills, according to the Federal Reserve’s 2016 Payment Study.

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A Self-Service Kiosk Solution: The Personal Teller Machine

The first ATM was installed in 1967 at Barclay’s Bank in London, and introduced a new level of convenience to banking that had not been done before it. However, since this ground-breaking advancement, self-service banking technology has remained largely the same.

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The Future of Check Payments: Secure Check Printing Solutions

According to the Federal Reserve’s 2013 Payment Study, overall check payments have declined over the past 10 years. While check payment decline isn’t breaking news or surprising for most people, it’s compelling to look at check payment usage among the growing number of payment options available today. So, the question remains, what does the futurehold for the humble paper check?

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Various Styles of Banking Transformations

Consumers in the United Kingdom were introduced to self-service banking with the world's first ATM at Barclay’s Bank in London in 1967. The United States was quick to follow with a banking transformation of their own using the same cutting-edge technology, with the first install of an ATM at Chemical Bank in Rockville Centre, NY in 1969. 

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Secure Self-Service Kiosk Solutions for Financial Institutions

A new global standard for self-service kiosks began with the EMV liability shift in early October 2015 for self-service kiosks, ATMs and POS terminals. This shift highlighted potential issues that could lead to fraudulent transactions and has since caused many businesses and banks to increase their focus on security.

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How Branch Transformation is Embracing the Customer Experience

The finance industry has been ramping up their “Branch Transformation” projects for several years now. The digital revolution has prompted banks and credit unions to think beyond traditional banking methods and focus on bridging the gaps between their channels: online, mobile, ATMs, call centers, and the brick-and-mortar branch. 

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On-Demand Check Printing for All Different Types of Checks

Of all the teller tasks in a bank branch, the most painful and time consuming is manual check issuance. Cashier’s checks or money orders can be particularly cumbersome, but issuing any negotiable document in a branch is fraught with expense and risk if you aren’t using an automated check-issuance solution including secure MICR printers and check-printing software.

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Personal Teller Machine Brings Self Service Retail Experience to the Bank Branch

At Source Technologies, we developed a personal teller machine to make the bank branch a self-service retail experience for customers requesting more autonomy.

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Best Check Printing Software Solutions

Many businesses and bank branches incorporate automation to help their businesses run more efficiently and to provide their customers with optimal service. For businesses that require the ability to print checks safely and efficiently for their day-to-day operations, secure MICR check printing software is a key consideration.

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Financial Institutions: The Time for Self-Service Kiosks is NOW

Financial institutions have been talking about “branch transformation” for several years now, and the “Branch of the Future” for decades. Meanwhile, there has been a digital revolution overtaking virtually every other aspect of our lives. 

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Money 20/20 Conference Delivers

Source Technologies attended Money 20/20 for the first time in October. The event is billed as “The World’s Largest Payments & Financial Services Innovation Event,” and with over 10,000 attendees, 500 speakers, and 20 content tracks, it’s certainly the largest payments & financial services conference we’ve seen.

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Magnetic Ink Character Recognition Line

Magnetic Ink Character Recognition (MICR) refers to the formulation of toner used to print the special font at the bottom of checks. At Source Technologies, we have built our...

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Top 5 Risks of Check Fraud

With 75% of all B2B payments made by check,1 the risks of check fraud should be a concern for all B2B organizations accepting and sending payments. By engineering distinct security features for printers, Source Technologies has designed secure print solutions for B2Bs to minimize their risk of check fraud.

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BAI Retail Delivery Became BAI Beacon 2016

Our team at Source Technologies just returned from the BAI Beacon 2016 conference in Chicago. Known for years as the Retail Delivery Show, BAI changed the format this year to introduce content in a more rapid-fire environment, with multiple sessions happening simultaneously in one large room.

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Biometric Authentication Risks for Self-Service Kiosks

With more and more iPhone and iPad users getting used to simply using their fingerprint to unlock devices, it begs the question: why aren’t more companies adding this technology to their products? 

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Government Secure Print Solutions

As the nation’s biggest “company,” the government faces ongoing budget challenges, fraud risk, and the never-ending task of protecting data. Various government agencies still rely heavily on issuing checks for payroll, accounts payable, welfare and social security payments. When these government agencies utilize a secure check printing solution, their costs and security risks are significantly reduced. 

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9 Transactions Available with the Self-Service Kiosk

As new technologies enter bank branches, self-service kiosks are offering the convenience that consumers are seeking in the branch. Source Technologies offers the Personal Teller Machine, a self-service kiosk  that allows customers to conduct 90% of transactions traditionally handled by a teller. 

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Top 5 Benefits of Secure Print Solutions

Believe it or not, there are thousands of financial institutions in North America that still issue official checks using pre-printed checks, a dot matrix printer and sometimes even a typewriter. This manual process is expensive, risky and time consuming. 

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Top 6 Benefits of Bill Payment Kiosks

More and more retail businesses today are seeking solutions for easier in-store billpay and cash acceptance. At Source Technologies, we understand the need for a self-service system that is affordable, configurable and secure.

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Why is the MICR Line Required on Checks?

While overall check use has declined over the past 10 years, business-to-business check payments are still going strong, and even increasing in value. 

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5 Ways to Enhance Payroll Check Printing Using a Secure MICR Solution

At Source Technologies, we developed CheckPartner Enterprise  software and combined it with our secure MICR check printers to make up our secure accounts payable and payroll check software solution.

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Using the Personal Teller Machine in the Bank Branch

One of the most popular reasons for walking into a bank or credit union branch is to make a withdrawal. Of course, an ATM can fill the need for cash, but only if you want $20 bills. What if you want $100 in cash, but all in $5 denominations?  

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3 Things to Consider When Choosing a MICR Toner

MICR toner quality depends on several factors working together to create secure printing solutions, so how do you decide which toner and toner cartridges are ideal for your solution? When choosing a quality MICR toner for your MICR printer consider 3 things:

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12 Features of the Personal Teller Machine

The Personal Teller Machine has 12 unique features that make it stand out among all other self-service kiosks in the industry. 

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More Self-Service Kiosk Benefits for the Branch of the Future

Since launching our Personal Teller Machine (PTM), we’ve spent a good deal of time explaining to customers and prospects the difference between Personal Teller Machines and ATMs.

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Print Temporary Checks with the Personal Teller Machine

According to Gallop, 80% of new bank accounts are still opened in a branch instead of online or over the phone. With each new account opened, the financial institution typically issues a set of pre-printed temporary checks for the customer to use while their personalized checks are ordered and shipped.

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3 Reasons to Use Retail Self-Service Kiosks

According to Aite Group, in-person bill payments represent almost $450 billion each year. Processing such a large number of in-person payments can be expensive and problematic for retailers and utilities, especially without a retail self-service kiosk.

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CheckPartner Enterprise vs. Manual Check Issuance

As the bank branch changes and evolves to embrace the “Branch of the Future,” efficiency and automation will be important to enhancing the customer experience.

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User-Friendly Self-Service Kiosk Features

Financial institutions are adopting self-service kiosks such as Source Technologies’ Personal Teller Machine, to enhance their overall customer experience. The Personal Teller Machine allows customers to complete routine transactions without assistance from a teller.

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Self-Service Banking: The Branch User Experience

With the evolution of consumer banking rapidly progressing, consumers not only appreciate, but expect a seamless user experience. Financial institutions that offer self-service banking solutions, such as Source Technologies’ Personal Teller Machine, allow customers to automate routine transactions.

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Save Time Using a MICR Check Printer

Official checks. You also know them as cashier’s checks, counter checks, teller checks and certified checks. Regardless of the type of official check, the process of issuing or printing checks is usually painful for both the customer and the teller due to the amount of time it takes. 

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Tablet Assist and the Personal Teller Machine – Self-Service Solution

The internet and smartphones have escalated our adoption and expectation of self-service solutions. No need to call for takeout – just place your order online. Want some new music? Just download it to your phone. Buy concert tickets, watch movies, and get your news wherever you are, all with the click of a button.

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Changing the Face of the Bank Branch with Self-Service Banking Solutions

The evolution of consumer banking is rapidly changing. With new technological advances such as Personal Teller Machines to staff changes, the face of the traditional bank branch is changing. 

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BAI Retail Delivery 2015 and Branch Transformation

“Branch of the future” and “branch transformation” are still hot topics in the retail banking industry. The team at Source Technologies just returned from another BAI Retail Delivery show, this one in Las Vegas, NV.

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The Quality of MICR Toner Cartridges

What’s in a check? A lot more than you might think. The quality of any Magnetic Ink Character Recognition (MICR) document depends on several components. It’s critical to have a secure MICR printer and blank check stock working together to eliminate the expense and risk associated with pre-printed checks, but without a quality MICR toner cartridge in place, even the best hardware in the world won’t ensure your check meets Federal Reserve's MICR standards.

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Come See the Personal Teller Machine at BAI Retail Delivery – Oct. 13-14, 2015

Source Technologies will be demonstrating our new self-service banking kiosk, the Personal Teller Machine, at BAI Retail Delivery in Las Vegas.  Get a sneak peek of the Personal Teller Machine.

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Know Your Customer – What is Due Diligence?

The USA Patriot Act was was passed in 2001 in response to the attacks of 9/11 and requires that all financial institutions create anti-money laundering programs to fight schemes that may be financing terrorist activities. Not only are financial institutions required to confirm client identities, but they must also keep a detailed analysis of how they do it. 

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What Personal Teller Machines and Grocery Store Self-Check-Out Have in Common

At the grocery store, most of us with a few items in our basket will choose self-check-out. It’s easy, quick and intuitive, and you’re on your way home instead of waiting in a line. But if you have a cart full of groceries, you go to the cashier because you aren’t going to be able to do it any faster, right?

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Reducing Bank Audit Fees

The Most Expensive Audits An Audit Analytics report confirms that financial institutions incur the most expensive audit fees compared to other industries. Because of the complex transactions, products, and accounting...

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How EMV Compliance Impacts Self-Service Kiosks

EMV Compliance for Self-Service Kiosks It is no surprise that EMV is rolling out on October 1, 2015 and that if you are not EMV compliant then your financial institution is at...

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Eliminate Check Reject Fees and Reduce the Risk of Check Fraud

Who Still Issues Check Payments? Companies. The most common primary payment method between companies is by check. According to the 2016 AFP Electronic Payments Survey, 94% of organizations report that...

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Top Self-Service Kiosk Benefits for the Branch of the Future

What’s the Difference Between an ATM and the Personal Teller Machine? We get this question quite often. At a high level, the difference between an ATM and the...

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Self-Service Banking with Personal Teller Machines

Banking is at the highest risk of disruption, demanding reprioritization of the customer experience. Learn about self-service kiosk pilots and savings within banking.

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Differences Between Non-Secure Laser Printers & MICR Check Printers

Not All Check Printers Offer the Same Benefits Laser check printers are used in many brank branches today for check printing. However, there are several factors these printers do not...

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The ROI of a Secure MICR Printer Solution versus Using Pre-Printed Checks

How much money will a MICR printer solution save my branch? The Typical Financial Institution & MICR Printer Savings Let’s take a hypothetical look at what the savings...

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What Do You Get for the Secure MICR Check Printer Price?

Two Words: Cost Savings This may seem counterintuitive. After all, a secure MICR check printer costs more than a regular, non-secure MICR printer. That’s because there are...

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Self-Service Banking Automates On-Demand Check Printing

Banks are starting to focus more on the customer in ways that answer the call for more personalized and more efficient banking capabilities. Investing in self-service banking is part of...

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Comparing the Bank Experience Part III – Digital Example (Amazon.com)

Retail Banks Go Digital Retail banks have spent a lot of time and money in recent years embracing mobile technology and implementing online banking platforms. And rightly so: today&rsquo...

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Comparing the Bank Experience Part II – In-Store Service Example (Apple)

There is No Substitute for Great Service As retail banks evaluate “Branch of the Future” strategies for optimizing their branch networks in the Age of the Customer, it...

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Comparing the Bank Experience Part I - Retail Example (Verizon Wireless)

The Branch of the Future Demands an OmniChannel Experience In recent years, U.S. banks have been focused on providing multi-channel strategies, which simply means that banks have been investing...

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Check Printing Remains Strong in B2B Transactions

B2B Check Use Holds Top Position as Payment Method It’s safe to assume the use of paper checks as a payment method has declined in recent years....

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Secure Prescription Printing & Fraud Prevention for Healthcare Applications

Preventing Healthcare Fraud with Secure Prescription Printing The interlocking of the healthcare and pharmaceutical industries create one of the largest verticals in America. In 2013 alone, approximately 4.2 billion prescriptions were issued...

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Self-Service Kiosk Solutions in the Bank Branch Improve Customer Service

Self-Service Kiosks in the Bank Branch: One Hot Topic The Source Technologies team just returned from what is arguably one of the top two retail banking events in the U...

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Comply with Know Your Customer Guidelines

The USA PATRIOT Act & Know Your Customer (KYC) Compliance Financial institutions have always understood the importance of knowing whom they are doing business with, but the USA PATRIOT Act...

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How Secure MICR Check Printers Protect Valuable Information & Prevent Fraud

Data and Access Protection Afforded by Secure MICR Check Printers For check-printing applications such as counter checks or official items, the majority of banks in the U.S. still...

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Self Service Kiosks for the Unbanked & Underbanked Consumer Market

The underbanked consumer market currently encompasses over a quarter of American households, totaling 30 percent (or 34 million households). Most highly represented by two age groups, individuals 45-54 years of age and 2...

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CUNA, Inc. Credit Union Operations Article: In Check Printing, Blank Is Better

According to the Association of Financial Professionals, a 2012 study discovered credit unions face approximately $17,000 in loss every time a fraudulent act is successful. Pre-printed check stock is “live”...

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Blank Check Paper Investments for Bank Branch Cost Savings

Bank branches typically utilize numerous kinds of checks for a variety of application-specific needs. From official checks for guaranteed fund transfers to trust department needs, blank check paper, secure MICR...

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The Bank Branch of the Future: ATMs, Tellers, and Self Service

The Introduction of the ATM & the “iPhone Effect” The first ATM was installed in 1967 by Barclay’s Bank in London. Ground-breaking in its introduction of convenience,...

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MICR Check Printer Errors & Support: 5 Common Issues & How to Fix Them

1. Paper jams and multiple sheets being fed at a time because the check stock hasn’t been properly separated The best way to separate blank check stock and reduce...

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BAI Banking Strategies Article: Combating Check Fraud at the Printer Level

According to the Association of Financial Professionals, paper checks are still the most vulnerable payment type when it comes to fraud attacks. However, there ways to reduce this risk. Secure...

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MICR Ink vs. MICR Toner: What Is MICR Ink?

The term “MICR” is an acronym. It stands for Magnetic Ink Character Recognition and refers to the special numbers at the bottom of checks that include the account number, a bank’s routing number, check number, etc. Both MICR ink and MICR toner is used to print the special numbers, also known as the MICR line, on checks.

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Pre-Printed vs. Blank Check Stock – Why Should I Use Blank Check Stock for Check Printing?

A MICR printing solution that uses secure blank check stock can save your company money. Blank check stock saves on the cost of paper and internal processes, for a savings of up to 82%.

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What is MICR, Why Is It Important and How Does It Reduce My Risk of Fraud?

Magnetic Ink Character Recognition, also known as MICR, is required by the Federal Reserve to be on all checks. It is the type of toner used to print the font at the bottom of checks and other documents.

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