Image Replacement Documents Can Drastically Reduce Expenses

An Image Replacement Document (“IRD”) , also called a substitute check, is a paper replacement check created from the electronic image of an original paper check, and is the legal equivalent of the original check. In 2004 legislation called Check 21 allowed Image Replacement Documents to be able to be used by banks to replace physical checks. By printing Image Replacement Documents, banks can drastically reduce expenses related to courier and transportation of physical checks. Printing Image Replacement Documents also reduces float on deposits because the file is transmitted electronically before the Image Replacement Document is printed.

The “Check Clearing for the 21st Century Act” or “Check 21,” is a federal law that was enacted to create more efficient and secure means for the processing and clearing of checks. According to Check 21 guidelines the Image Replacement Document must contain all the information on both sides of the check, including the MICR line and all endorsements. Prior to its implementation, the check processing system relied on the physical transportation of paper checks. Check 21 encourages the scanning of the physical check, and then after the file is transmitted electronically, those banks that can not process the electronic file can print the Image Replacement Document, which is then processed similar to a traditional check.

Rosetta Technologies offers Image Replacement Document printing software solutions. IRDPrint is a group of software packages that provide all the functionality required to manage the printing of Image Replacement Documents. IRDPrint is comprised of three different software applications that are easily customizable for differing requirements.

IRDPrint Director
IRDPrint Director provides a complete and extensible Image Replacement Document printing solution that outputs substitute checks that meet ANS X9.100-140-2004 standards.

IRDPrint Remote Capture
IRDPrint Remote Capture allows financial institutions to print Image Replacement Documents that were imaged at remote locations.

IRDPrint Returns
IRDPrint Returns is a simple solution to implement for your Image Replacement Document printing needs. It offers banks the ability to simplify their returns process and improve their communications with their customers, without requiring full image enablement.

Rosetta Technologies can fulfill all your Image Replacement Document printing needs. With a variety of software solutions designed to target companies large and small, contact us today for more information about the perfect solution for your company.

Contact us if you are interested in image replacement document printing.