Check 21 to save back-office money

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Thursday September 23, 07:42

Check 21 to save back-office money

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(by Geck Finn)

Check 21 is expected to save banks’ money, especially as to back-offices and can be a good catalyst for boosting payments and decreasing operational risks.

Banks, that are not saving in terms of automated systems will benefit by adopting enterprise-wide payment platforms within their Check 21 system.

Regulation E for e-payments can be useful both for consumers using online bill payment services and debit cards as the latter ones, for instance, have the chance to claim a re-credit for any unclear transactions through the Regulation E.

Check 21 Act is widely anticipated to catalyze the usage of e-payment system, its originators say.

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