The Check Clearing
for the 21st Century Act (Check 21) which was enacted
in October 2004 facilitates significant changes in
the way checks are processed in the U.S. This act
promises to have a monumental long term effect on
the banking industry. Check 21 enables the creation
of a digital image of a check (via a desktop image
scanner) and its accelerated transfer (via the Internet)
to the appropriate bank.
In essence, Inovium’s
RapiDeposit system allows the using organization to
rapidly convert incoming checks to digital images,
and transmit these images to the bank account of
their choice – effectively converting
paper checks to electronic funds with a turnkey solution.
Inovium Corporation announced the launch of its Inovium RapiDeposit™ CC30D check and document scanner, enabling small to medium-size businesses to convert incoming paper checks to digital images for remote online deposit
