By Kevin Forrester | November 16, 2017
Even with all the sophisticated payment methods available today, paper checks are still a popular method for making payments, especially in business-to-business (B2B) transactions. If you are printing checks, it is still a Federal Reserve (ANSI) standard that the MICR line on checks is printed in MICR toner and is present at the bottom.
By Kevin Forrester | November 01, 2017
A MICR printing solution that uses secure blank check stock can save your company both time and money. Using blank check stock can save you up to 82% on the cost of paper and internal processes.
By Kevin Forrester | October 18, 2017
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.
By Tim Baker | August 16, 2017
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.
By Kevin Forrester | June 14, 2017
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.
By Kevin Forrester | May 03, 2017
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?
By Kevin Forrester | January 11, 2017
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.
By Kevin Forrester | November 16, 2016
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.
By Kevin Forrester | September 21, 2016
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.
By Kevin Forrester | August 17, 2016
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.
By Tim Baker | June 08, 2016
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:
By Tim Baker | October 21, 2015
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.
By Kevin Forrester | July 13, 2015
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...
By Kevin Forrester | May 06, 2015
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...
By Kevin Forrester | April 22, 2015
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...
By Kevin Forrester | October 29, 2014
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...
By Kevin Forrester | October 10, 2014
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”...
By Kevin Forrester | October 01, 2014
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...
By Tim Baker | August 28, 2014
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...
By Tim Baker | December 06, 2013
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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