Imaging comes of age

Article Abstract:

More and more banks are reevaluating the potential of electronic check imaging technology. Initially disappointed with electronic check imaging systems, bankers and consultants believe that the technology has improved and has become more effective that a wider array of applications is now possible. Imaging systems, for instance, can be used in the proof-of-deposit aspect of banking that could reduce manual labor normally associated with check proofing. Banks can initially use electronic check imaging systems in smaller areas such as cash management CD-ROMs, monthly statements and check archiving before venturing into broader applications. However, return on investment and real satisfaction can only be achieved if there is serious commitment on the part of senior bank executives.

Commercial Banking, Depository Credit Intermediation, Electronic Banking Svcs, Checking & Savings Services, Banking industry, Usage, Technology application, Electronic banking, Imaging systems, Bank automation, Check cashing services

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Less than meets the eye

Article Abstract:

Microsoft Corp and First Data Corp's joint venture MSFDC has yet to make big gains in the electronic banking market. When it was launched in 1997, the new company had promised to generate savings for billers, bolster banks' computer-based services and make bill payment easier for consumers. A year later, MSFDC still has not delivered on these promises and there is no guarantee that it will succeed, despite its parent companies' enormous financial and technical resources. With the mass market continuing to take a wait-and-see position, the firm's biggest challenge in the short term is to build critical mass. However, this will not be an easy task given that billers are waiting for banks to become active players in the market, while banks are waiting for billers to come on board.

All Other Information Services, Home Banking Service, Home banking, Home banking services, MSFDC

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Treading cautiously

Article Abstract:

Some companies such as public utilities view electronic billing with guarded optimism. Despite the promise of electronic billing presentment, telephone, electric and gas customers still rely on the traditional paper-based payments. This cautious attitude can be attributed to concerns about potential errors in sending bills to customers electronically as well as the issue of selecting payments partners. Moreover, there is uncertainty over the amount of cost savings that can be realized through electronic payment. Some companies, such as Florida Power & Light and MCI Communications Corp, are integrating their bill presentment systems with electronic payment tools. Others, including American Electric Power and BellSouth Corp, are market testing their electronic payment systems.

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