The Role of Check Images in Internet Banking: An Introduction
In the JIBC, there is considerable discussion and articles that address Electronic Banking and Commerce in general, but very few that present information relative to specific products that may be available for consumers and businesses over the Internet. The purpose of this article is to address specifically one of those products, checks. Statistics indicate that check volume is at a peak and continues to grow. This trend is attributed to many factors. The question is, given that we will have to continue to deal with paper checks, at least in the near future, how might we integrate them into the non-traditional forms of banking? This article suggests transforming the paper checks into electronic information, or digitize them. Digital technology will not only offer integration of this traditional payment form with alternative delivery systems, but it will also enable more efficient processing of checks. The future of alternative forms of banking looks promising and checks appear to be in the equation for some time to come. Image technology provides the opportunity to integrate these two in a harmonious relationship for the banking customer.