Deposit21 AI Delivers Check Intelligence
There are many excellent IDP / data capture solutions on the market today that do a great job with typical business documents. However, capturing check payment transactions, such as for Accounts Receivable or remittance processing, requires specific check-related capabilities. Deposit21 AI adds all the necessary check processing features, from capture to deposit to reporting to research and much more. With Deposit21 AI you can leverage the capabilities of your data capture software and easily incorporate check payment transactions.
Deposit21 AI works as a flexible component within the host data capture environment. The IDP application designer is free to pick and choose what capabilities of Deposit21 AI to employ and where to use them within the data capture workflow. They don’t need to become experts in check processing, since Deposit21 AI handles all that for them. The result is an efficient process tailored to meet each business’s unique requirements.
Comprehensive Check Processing Capabilities
Deposit21 AI provides all the check-related functionality any A/R application could ever need, including:
Check Data Capture and Perfection. An AI-based check recognition engine is employed within a flexible validation and cross-checking regimen, providing high read rates and accuracy. Ultra-efficient keying is also available for those few items that still need it.
Automated Electronic Deposit. Check 21, ACH and Canadian ICP are standard. Complex multi-bank and multi-account deposit schemes are configurable via parameters. Check deposit path decisions, file creation, encryption, transmission and confirmation are performed automatically.
Automated Treasury Reporting. Reports are created and delivered automatically, via email, network share or SharePoint. The report options, schedules and recipients are user configurable.
Bank Adjustment Research Portal. Full check image, data and processing history is readily available to treasury staff via a convenient web search dialog. This makes it easy to “connect the dots” between bank adjustment notices (bounced checks, etc.) and line-of-business applications.
Robust, Transparent Architecture
Processing customer payments is a mission-critical application that requires flawless operation. Deposit21 AI builds on the legacy of its predecessor product, “Deposit21”, that handled many millions of checks for large corporations and public sector entities over the past two decades. The software is rock solid, built to handle a myriad of potential failure cases gracefully, whether it’s a database server glitch or an Internet outage while transmitting a deposit file to the bank. Every contingency has been anticipated, with automated recovery plus manual override options. Supervisors and support staff can subscribe to receive event alerts via email, SMS text, web popup or Windows popup. Deposit21 AI’s comprehensive web portal provides a dashboard overview and deep-dive details for every element of the software. This transparency ensures that your deposits, while they are now electronic instead of paper, are never held hostage to silent system failures.
Security in Everything
Checks aren’t just critical to your cash flow, they also contain Personally Identifiable Information (PII) belonging to your customers. Keeping such PII confidential is a legal, ethical and commercial imperative. Deposit21 AI encrypts all check images, check MICR line data and customer account metadata. Whenever an electronic deposit file is created, it is always created in encrypted form, either using bank-mandated encryption or Deposit21 AI’s own industry-standard encryption. There are never any temporary files or other short-term exposures of sensitive information. Check images displayed for data entry can even be redacted to further ensure customer privacy.
Security also requires that electronic deposit information be communicated to the bank in a secure and authenticated manner. Deposit21 AI maintains the login credentials for connecting with the bank’s file transfer server in a secure encrypted store, and supports PGP encryption and signing. Also, since Deposit21 AI has all the necessary file transfer capabilities built-in, no batch files or “program launches” are ever used that might expose your login credentials. Deposit21 AI also supports the creation, import, export and effectivity/expiration dating of PGP keys, SSH keys and SSL certificates. All these capabilities are managed by your personnel via the product’s web portal.
Deposit21 AI integrates with Active Directory for user authentication by group or individual. Fine-grained permissions ensure that all check-related data and processes are properly secured. Detailed audit logging of critical operations and security-related events supports audits and investigations.