SQN Banking Systems has added image cash letter reconciliation tools to its list of fraud detection and process improvement products for the financial services industry.
SENTRY: Cash Letter generates a daily image cash letter containing all items returned that day in the company's SENTRY: Exception System, the company said at the BAI Retail Delivery Conference & Expo in Boston.
The letter creates an electronic file containing cash letter totals, images and MICR information on individual items transmitted as X9.37 formatted files to the Federal Reserve or other financial institutions.
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New Jersey-based SQN said its SENTRY suite of item processing fraud detection and safe deposit management tools have been used by more than 500 banks and credit unions.
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