BLUE BELL, Pa. – Unisys, a leading international information technology services and solutions company, used the Bank Administration Institute TransPay 2003 conference held last month in New Orleans to introduce five new technologies it says make the payment clearing process faster and more secure. The new technologies include: higher resolution imaging; quality flags to help ensure the security and integrity of imaged payment documents; enhanced electronic recognition of information handwritten on checks; faster check image capture at financials’ branches; and an 80% improvement in Unisys’ NDP300/600 check processing system capacity. `Check 21,’ formally known as H.R. 1474, the “Check Clearing for the 21st Century Act”, allows banks to truncate checks and updates the check truncation system currently used by credit unions by allowing them to truncate checks on the front end rather than the back. The law currently requires banks to physically present and return original checks to account holders. The House Financial Services Committee approved H.R. 1474 on May 21 and reported it for House floor consideration. -

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