|
|
Article: the relationship between check 21 and ACH
- Article from:
- Today
- Article date:
- December 1, 2003
- Author:
CopyrightCopyright Association for Work Process Improvement Dec 2003. Provided by ProQuest LLC. (Hide copyright information)
|
HOW DOES CHECK 21-THE CHECK TRUNCATION ACT-AFFECT ELECTRONIC REMITTANCE (ACH) PROCESSIMG AND VICE VERSA? ON THE SURFACE, THEY DON'T IMPACT EACH OTHER AT ALL. BUT ULTIMATELY, THE TWO PAYMENT CLEARING CONDUITS ARE SIMILAR IN FUNCTION AND THE CULTURAL EFFECTS THEY WILL HAVE ON U.S. BANKS AND CORPORATION.
THE IMPACT OF CHECK 21 ON BANKS
A major transition is about to take place in the U.S. banking industry. Traditional methods of check processing are on the verge of being phased out, and new streamlined techniques and technologies will take their place. Because of Check 21, financial institutions and credit unions across the country have already begun reanalyzing and making changes to their ...