Operations in a Post Check 21 Environment

Check 21 legislation in conjunction with the growing adoption of distributed capture and image exchange is inspiring dramatic shifts in banking and the role of operations.

Until recently, the typical operations function has been focused on optimizing paper processes, and has been quite successful in those efforts. While paper efficiencies were being realized, however, the financial services landscape changed substantially, and continues to evolve.

Learn what each of the participants representing banks of various sizes from several regions across the United States had to say about the role operations will play in this new era. Alenka Grealish, Group Manager of Banking at Celent, moderated this engaging discussion. Ms. Grealish is well-recognized internationally as an accomplished advisor, consultant and researcher in the financial services sector.

The Experts Weigh In
Find out what the experts had to say on the critical issues facing banks, such as:

• Fear and uncertainty around the future role of operations – will it exist, and in what capacity?
• Perfecting data in a distributed capture and image exchange world —where, how and who performs it?
• Fraud, security and risk – combating these challenges as the adoption of new technologies and procedures for check processing move outside central operations
• Providing new image-based services while balancing declining check volumes and rising costs

A Sample of What You’ll Get in the Report

Here are just a few excerpts of the thoughts, ideas, and commentary you’ll find from these leading thinkers in the full paper:

“Check 21 comes along, and flips our business model. Suddenly, geographic capabilities are far less important. This was a revolutionary change...”

On the future of operations:

“I think the operations area is going to be a control center, staffed with people with sophisticated skills. They'll have the expertise to satisfy customers and handle set-up, installation, training, and areas that are much different now in this distributed capture environment.”

“Regardless of where capture may occur, there will still be a need for a clearing mechanism, and that can only be done centrally.”

“The focus is shifting from tactical expertise to strategic counsel.”

On how to address data perfection as banks adopt distributed capture and image exchange:

“Until we can develop solutions and policies that prevent defects at the point of capture 100%, we will be inspecting and correcting in both places…”

On the opportunity to use image technology as the incidents of fraud and security rise:

“‘One of the key things is having the images available sooner - Day 2 morphing into Day 1, and that’s something that we'll be able to take advantage of.”

“…image transactions bring speed, and speed kills fraud.”

Get inside the minds of these leading bank executives. You’ll find many more strategic and tactical thoughts and opinions in the full report. Download a copy of The Transformation of Operations Post Check 21.

The Transformation of Operations Post Check 21.