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The Last Mile
Since the enactment of Check 21 in 2004, overall adoption has soared, but returns continue to be in-cleared as paper at thousands of institutions, particularly community banks and credit unions. In this paper, we look at how changes at the Federal Reserve Bank are forcing these institutions – and the item processors and software vendors that serve them – to rethink their returns processing strategy. We evaluate the options available and assess their respective strengths and weaknesses. We also offer recommendations on what institutions should look for in an electronic returns processing solution.
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The Great Check 21 Land Grab
The continuing evolution of payments in general and Check 21 in particular are very dynamic. In this paper, we look at the continuing evolution of the processes and technology that came about due to the implementation of Check 21 in October, 2004. We evaluate the current Check 21 landscape as well as examining the future of the industry based on the actions of the major players in the industry.
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