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Article: In Brief: IRD Printer System From CheckTech.(image replacement documents, CheckTech Financial Corp. )(Brief Article)
- Article from:
- American Banker
- Article date:
- February 15, 2005
- Author:
CopyrightCOPYRIGHT 2005 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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CheckTech Financial Corp. of Santa Fe, N.M., has introduced a system for printing out digital check images as image replacement documents.
The company said Thursday that the system, which is priced under $10,000, is designed for small and medium-size banks. The system includes printer, software, security paper, installation, and magnetic-ink toner to produce IRDs.
The Check Clearing for the 21st Century Act, which took effect in October, made IRDs the legal equivalent of original paper checks.
CheckTech, which provides check processing equipment and supplies, said the system could be used as a transition technology for banks to ...