New NCR software lets consumers deposit checks without leaving home
NCR APTRA™ Consumer Passport supports risk monitoring in response to FFIEC guidance
DAYTON, Ohio - NCR Corporation (NYSE: NCR) today introduced software that will allow consumers to deposit checks into their checking or savings accounts without leaving their homes and without purchasing any new hardware.
This new software, called NCR APTRA Consumer Passport, can be integrated with any financial institution’s online banking site and gives consumers the ability to deposit checks remotely, a service previously offered only to businesses.
While accessing an online banking account, consumers can conveniently deposit checks by using a TWAIN-based flatbed scanner. TWAIN is an industry standard interface that allows devices such as scanners to communicate with software applications, and is found in common home scanners and multifunction scanning devices. NCR APTRA Consumer Passport is well suited to consumers who rarely have occasion to deposit checks - such as a child’s birthday check or a rebate check - or may not have convenient access to their financial institution.
Once the front and back of the endorsed check is scanned, the image and related data can then be sent electronically through online banking to the financial institution for validation, processing and clearing. For select clients, this remote deposit service could allow for same-day crediting to their accounts, quicker access to deposited funds and detailed deposit reports for improved record keeping.
For financial institutions, the new software directly addresses risk monitoring guidance for remote deposit, as outlined by the Federal Financial Institutions Examination Council (FFIEC). On January 14, 2009, the FFIEC listed the responsibilities of senior managers in overseeing the development, implementation, and operation of remote deposit capture at their financial institutions. NCR APTRA Consumer Passport can support financial institutions with risk monitoring by setting deposit limits per item and transaction, utilizing tools to assist managers in researching transactions, actively logging user deposits and creating reports on audit log activities for both bank users and consumer users.
“We live in a world in which consumers are using more self-service technologies than ever before, and they are also demanding a wider range of self-service options,” said Brian Bailey, vice president of Financial Industry Marketing for NCR Corporation. “NCR APTRA Consumer Passport is a reflection of how self-service and sophisticated imaging technology can be used to help consumers connect, interact and transact with financial institutions, while maintaining a high level of security for all parties.”
As the latest addition to the NCR APTRA Passport family, this new software leverages NCR’s proven check imaging technology - the NCR APTRA Commercial Passport solution deployed throughout North America. With NCR APTRA Consumer Passport, financial institutions can now extend remote check deposit capture to a broader customer market - seamlessly integrating into the financial institution’s end-to-end process for capturing and integrating check images and data into a central operation for clearing and settlement. The new NCR APTRA Consumer Passport software solution can also be integrated with the financial institution’s online banking application for streamlined navigation and a seamless user experience.
“Technology is playing an ever-increasing role in helping North American financial institutions transform their business and enhance the customer experience. Beyond improving customer experience and adding a new channel for broadening its customer base, NCR APTRA Consumer Passport gives financial institutions one more way to streamline processes and reduce cost, which is especially critical in today’s challenging economy,” said Bailey.
Expanding the remote check deposit service to consumers enables financial institutions to further automate and streamline operations, reduce labor and transportation costs, and save time by eliminating the need to physically move these paper-based items through the clearing system. Geographical boundaries are no longer a potential barrier to growing a financial institution’s market; with NCR APTRA Consumer Passport, financial institutions can effectively offer branch and ATM services to remote customers, enhancing customer service and increasing deposit activity at minimal cost.
The NCR APTRA Consumer Passport solution is not only a cost-effective way for financial institutions to manage the check deposit process, but it can help them bring more value to the client relationship and drive up loyalty and revenue.
NCR also offers financial institutions online and mobile banking solutions through NCR APTRA™ Mobile Banking and Mobile Business Banking. These industry-leading solutions allow financial institutions to give customers choice in when and where they connect, interact and transact with their bank in a cost-effective and rapid implementation process.
Through NCR’s online hosting services, financial institutions can receive superior security and unparalleled application availability. NCR provides hosting services to more than 500 clients worldwide, representing more than 20 million end users and several billion dollars in transactions each month.
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