Overview Project Proposal Requirements Business Requirements Project Status With checks continuing to play a major role in the payments system and the electronification of checks projected to provide significant cost savings and new revenue opportunities to the industry, many banks, industry-related organizations, and technology providers have expressed interest in exploring implementation opportunities for check truncation using image technology. Its intent is to demonstrate that the exchange of check images instead of the actual documents can facilitate the implementation of check truncation and thereby provide cost savings and new revenue opportunities to the industry. Enable image-based return processing. Identify and address technological changes to expedite industry acceptance of paper check truncation enabled by interbank image exchange. Build an implementation blueprint for financial institutions to follow.
Measure results with business cases developed by other industry groups.
Identify the next steps that will lead to the next stage in the evolution to paper and image truncation.