Branch Image Capture's Dirty Dozen
   
  Thank you for your interest in this highly popular topic. You may want to take the following twelve items into consideration when exploring branch image capture solutions for your credit union. Though this is not an exhaustive list, it is meant to assist your credit union during its information gathering process.

1) Image Quality – Since industry standards regarding image quality are a work in progress, your provider must maintain a heightened awareness of developments. Your provider should be able to demonstrate image quality analysis at the branch level (prior to transmission), and be flexible enough to adapt to changing regulations. 

2) Readiness of Check Processors – Be sure that the platform of your credit union’s check processor is in sync with the branch image capture solution you select. 

3) Image Exchange Environment/Substitute Checks – One of the common misconceptions about Check 21 is that all image-enabled institutions would be exchanging imaged checks immediately, but that has not been the case. Currently, substitute checks are more expensive to process than electronic images because the items must be machine readable, or MICR encoded (as conventional checks are in today’s environment). However, as more large financial institutions become image-enabled, the need to print image replacement documents (IRDs) will decrease. High adoption rates for image exchange are not expected until 2007, at the earliest. 

4) Bandwidth – Dial-up is not an option. Understand high-speed bandwidth specifications in advance.

5) Geographical Landscape – Branch image capture may help eliminate courier costs, though other costs may arise (such as the storage of paper checks).

6) Branch Operations – How many branches will possess this technology – some? All? What roles will managers and individual tellers play? How will workflows change and who is making these plans?

7) Implementation and Education – Which team(s) at your credit union will be responsible for planning implementation? Is your branch image capture provider training your staff? What types of training and education materials are being provided?

8) Availability of Funds –With branch image capture, checks are scanned at a branch and images with check data are submitted throughout the day. Such a process can eliminate branch holdover and scheduled courier pickups, so check deposits can arrive at the processing center in a more timely fashion. More checks can meet deposit deadlines and take advantage of better availability schedules. 

9) Business Case Analysis – This is an important step to undertake before adopting any high-impact product. Your provider should be able to assist you with this analysis.

10) Software Upgrades – Verify your understanding of how your provider plans to upgrade your credit union’s system, or provide software updates and support.

11) File Processing Confirmation – Determine that your provider can provide real-time confirmation that your image files have been processed.

12) All-Inclusive Solution – Determine your provider’s capability to handle your processing from beginning to end, including settlement, research, adjustments and returns capabilities.

Your credit union’s Senior Business Consultant can provide direction about specific considerations, one-on-one. If you need help building your business case for branch image capture, turn to your trusted partners here at Members United.

Learn more about our branch image capture solution, Virtual Item Processing (pdf).