Solution

Lockbox

Lockbox Overview

Companies receiving physical payments with the need to internally process and deliver deposit files to North American Banks can do so with the lockbox solution from enChoice. This satisfies internal lockbox requirements without the need for third party Lockbox services.

Features

Ingestion from Opex mailroom scanners (or any Tungsten supported desktop scanner)

Classification of checks and remits

Support for Money Orders

Extraction of check number, amount and date

Business rules to drive straight thru vs. validation

Grouping of transactions into bundles for efficient QC

Benefits

Reduced external service costs from performing in-house processing.

Resources

Commonly used in conjunction with the enChoice X9.37 asset to produce final deposit files. See Tungsten MarketPlace enChoice X9 asset for additional information.

Technical Details

Inputs

Physical checks and money orders

Outputs

X9.37 deposit files via use of enchoice x9.37 asset.

Geographic Availability
North America

Additional Information

Check images can be passed to content management system with redaction if desired.

Financial payment data can be passed to internal systems of record.

Deposit file output can be auto scheduled.

Created By

Products

TotalAgility

Industry

Financial Services

compatibility

TotalAgility 7.11

Business Process

Accounting and Finance

Last Updated

March 29, 2024

Consulting Required

Yes

Support Available

Yes

Pricing

Contact for Pricing