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Article: Check 21 and ARC: Convergence or Divergence in Payments?
- Article from:
- Bank Technology News
- Article date:
- June 1, 2004
CopyrightCOPYRIGHT 2004 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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With pending changes to current payments strategies as Check 21 Act goes into effect on October 28, many organizations are left with the large question: Will Check 21 replace accounts-receivables conversion in the payment stream? This question has left many organizations researching the best way to leverage different electronification strategies to reap the greatest benefits.
Check 21 and ARC have at times been discussed as though they are one in the same-and therefore competitive-payment processes. As such, misconceptions have been given life that they essentially deliver the same benefits and results. It is more likely that instead of becoming competing forces ...
Related newspaper, magazine, and journal articles:
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Article: Why Check 21 Could Erase ARC's Gains.(new ...
American Banker;
November 5, 2003 ;
700+ words
... ... than processing paper checks. Under ARC, checks are converted to automated ... the lockbox, and the checks themselves typically ... the proliferation of check imaging, expected to ... Check 21, could threaten ARC, some experts say ...
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