CU*Answers to End Deposit Encoding
The provider of data and electronic check processing services cited the "many documented benefits for moving to a Check 21 solution" in its announcement.
They include reduced use of paper and dependence on courier services as well as enhanced image retrieval and disaster recovery, the company said. Remaining direct deposit encoding clients also have seen courier costs rise significantly because of reduced volume, CU*Answers said.
The CUSO is recommending the CheckLogic solution from its eDOC Innovations partner to its clients, and said it is being installed in multiple credit union locations.
CU*Answers currently serves about 165 credit unions and is based in Grand Rapids, Mich.