The implications for increased revenues, profits, and convenience-oriented services with digital are dramatic. A primary example for retail banking stakeholders is the opportunities delivered by transforming the manual processes for issuing checks in the branch. This is a small project within the whole branch transformation movement that delivers big returns in all areas retail bankers […]
Category: Check Printing
It’s a bit of a mystery why checks, especially B2B payments, are still a prominent payment method today even with the plethora of digital payment methods that have emerged. Believe it or not, checks account for 51% of all B2B payments! With that said, checks are here to stay for certain payments, including in bank […]
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.
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.
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.
Watch as our Integration team preps Source Technologies’ secure MICR check printers for shipment. Our MICR check printers eliminate the need to purchase, maintain, store and distribute pre-printed check stock because we print the static and variable data on blank check stock in a single printer pass. We add 15 distinct security features to our printers to help our customers reduce their exposure to check fraud, and we offer a MICR Guarantee to back our solution.
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.
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.
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.
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.