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Unilink Merchant Capture provides a strategy and vehicle
for financial institutions to attract new corporate accounts and
strengthen existing banking relationships.
Banks that offer Merchant Capture will have a distinct
competitive advantage over those who do not. Industry experts
are viewing Merchant Capture as a "must-have" for any commercial
bank, much like ATM's were twenty years ago. It is predicted
that the impact Merchant Capture will have upon banking
relationships and corporate treasury operations will be far
greater than the effect of online banking.
Merchant Capture is much more than a way for corporations to
scan and transmit check images and data to a bank for deposit.
Merchant Capture also includes all the functionality of a
full-featured lockbox/remittance application. Also, the same
Merchant Capture technology can be used by banks to capture
branch items, thereby reducing courier costs and affording later
cutoff times.
Merchant Capture can be offered to any current or prospective
customer. It supports more than forty capture devices and is
scalable from single desk top applications in a retail business,
to a multi location branch network, to the largest back office
of lockbox/remittance processing operation.
Merchant Capture is an application that brings the promises of
Check/21 closer to reality. Implementing this technology is a
win-win situation for both banks and their customers by lowering
costs, improving operations and services, accelerating clearing,
and solidifying banking relationships.
Benefits for Financial Institutions
New Strategic Business Opportunities
Merchant Capture provides banks with
strategic opportunities to attract new customers and retain
existing ones.
Strategic business targets include:
1. Any commercial prospect currently beyond the
bank's geographic influence. This is a far
less capital intensive way for a bank to expand
its deposit base compared to bricks and
mortar or acquiring new branches.
2. Current customers with multiple locations, many
of which are beyond the banks physical
footprint.
3. Customers who need fast clearing and
availability of high dollar checks.
4. Small retail customers who want the convenience
of Merchant Capture.
5. High volume corporate back offices that need the
equivalent of a lockbox/remittance
processing operation.
6. Any current customer that is only a borrower and
not a depositor.
Accelerated Clearing
1. Provides a real opportunity to use Check/21
legislation in a win-win solution for both bank
and customer.
2. Check images are captured, verified and
proofed at the point of presentment, thereby
significantly decreasing these costs at the bank
level.
3. Merchant Capture provides corporate customers
with the ability to provide banks with
an image deposit in Check/21-X9.37 standard, either in
digital or IRD formats, thereby
eliminating paper handling at the bank.
4. Provides the means to give loyal customers
improved convenience, float management and
funds availability.
5. Offers a better solution to customers than
point-of-sale "ARC" conversion.
6. Provides customers with "end to end" check
clearing that improves customer service and
satisfaction through reduced errors and fewer
disputes.
No retention of Physical Checks
As the point of truncation is now at the merchant's site,
the bank will no longer be required to archive checks or IRDs.
Reduced Transportation Costs
Banks can substantially reduce their transportation
costs both for bringing checks from their branches and ATM's to
their processing facilities, as well as their forward clearing
costs.
There will be no need to provide deposit courier pick up
services for large and international customers.
Customer Loyalty and Larger Balances
Provides simplification of banking relationships, frees
businesses from their geographic dependencies and provides the
ability to consolidate their deposits into a single preferred
bank.
Branch Capture
The same Merchant Capture technology can be used
by any bank for capture of branch items rather than using
couriers to physically transport items to a main location for
capture and clearing. Reduced costs, later cutoffs and greater
efficiency are contributors to easy cost justification.
Lockbox/Remittance Capture
Banks can provide commercial customers with Merchant
Capture's remittance and lockbox services by processing their
customer's remittance payments at the bank's location, crediting
the customer's accounts and importing the images and data into
the bank's regular check processing system for clearing and
settlement.
Benefits for Customers
A more Efficient Corporate Treasury
Corporate treasury and accounting
operations will simply be more efficient. Lower transaction
costs, reduced funding rates, enhanced cash flows and
consolidated banking relationships will result in a treasury
department which has more time to focus on more productive
endeavors.
Consolidate Banking Relationships
Merchant Capture eliminates the need to have a local banking
relationship associated with each business location.
Accelerated Clearings
Merchants Capture allows corporations to capture deposits in
any office, business location or processing center, thereby
eliminating the need for checks to be transported to the bank.
Enhanced Cash Flow
Corporations can improve cash flow and working capital
through accelerated clearings and improved availability.
Reduced Return Item Risk
The faster a corporation can clear an item, the faster they
learn about return items.
Reduced Transportation Costs
The cost and risk of moving items to the bank will be
substantially reduced, creating a more cost effective and safer
environment.
On-Site Image Archive
This will facilitate deposited item research, particularly
for expediting collection of returned items.
Data Mining
Every field on an item can be captured and placed in a
customer data base during the scanning process.
Improved Banking Relationships
Merchant Capture provides a vehicle for banks and
customers to redefine their relationship with regard to item
processing charges, return and posting fees, availability
schedules, credit relationships and compensating balances.
Features and Functions
Multiple Clearing Formats
Merchant Capture supports electronic
check conversion to Check/21-X9.37 standards, including digital
and IRD formats for high speed clearing and Accounts Receivable
Conversion "ARC". Banks can accept and pass through
customer's electronic deposits into its regular check clearing
system.
Data Security
All data transmission between merchant and bank are
performed using the latest 256 bit encryption.
Project Builder
Merchant Capture's Project Builder is an easy to use tool
for the customer to define the business rules of how the
application processes specific lines of business. Processing
rules include, batch types, documents types, scan-lines,
scan-fields, check digit routines, check endorsements, field
types, indexes and search criteria.
Intuitive, Ease of Use
Recognition Technology: Merchant Capture
incorporates CAR/LAR technology that improves speed and accuracy
in the capture process and results in major savings in the data
entry/processing time, error reduction balancing
routines.
Key from Image: Key from image and high-speed
document queuing improves operator efficiency.
Image Quality Control: Merchant Capture performs
this function at the point of capture thereby mitigating
upstream risk.
Operator Helps: Smart balancing, account linking and
simple color indicators provide operator guidance and reducing
errors and training time.
System Architecture
Merchant Capture uses N-tier architecture based on
Microsoft's .Net platform.
Core Accounting Software Interface
Merchant Capture's transaction files interface with the
customer's core accounting files. The interfaces include ITI/Fiserv,
Jack Henry, OSI, Fidelity, and many more.
Transaction Support
Merchant Capture supports transactions involving checks
only, coupons only, checks with payment coupons and multiple
transaction documents. Also, wholesale support for large payment
documents, full-page list items, tax forms, multi-page documents
and other specialized large forms.
Image Archive and Research
Merchant Capture creates an image archive for enhanced
operations and customer service. Field level indexes provide
powerful multi-criteria search capabilities by individual or
entire transaction.
Flexibility and Scalability
Merchant Capture is modular in design and highly scalable
and supports any payment volume, from small single user systems
to large payment processing environments.
Device Independent
Merchant Capture is scanner, sorter and encoder independent
and interfaces with more than 40 capture devices covering a
range of speeds and capabilities. Selected hardware vendors
include Unisys, Panini, RDM, Canon, and Digital Check.
CD/DVD Burning
Merchant Capture provides the ability to burn images and
data together with Merchant Capture's Archive View software to
CDs and DVDs for backups and offsite distribution.
Fast and Easy Installation
Having vast experience with systems
deployment, host interfaces, transaction processing,
communications and hardware configurations, UniLink's personnel
have the expertise to ensure a fast and easy installation of
your Merchant Capture system. Our detailed pre-installation
process means time on-site is used effectively, allowing us to
focus on training and addressing your individual or customer
needs and questions.
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