Payments Technology

Inbound Returns Express

BOOST PRODUCTIVITY AND REVENUE

Financial institutions have never scrutinised their technology investments more closely. Today’s bank processing systems must not only increase efficiency, they must also reduce costs, improve customer service and aid revenue growth. Moreover, they must effectively prepare banks for a future that includes cheque truncation, image exchange and streamlined, paperless back office processing.

Inbound Returns Express™ is a versatile, image-based return item management system that meets these critical demands. Expediting the rapid flow of images and data throughout the returns work cycle, it creates a near-paperless environment that reduces operating costs and lowers risk. In addition, Inbound Returns Express provides new revenue sources and increases customer loyalty by allowing banks to expand their service offerings.

Utilising Carreker’s image workflow management platform, Inbound Returns Express automates and transforms many of the inbound returns processes traditionally performed by operators. Through online research facilities that eliminate manual searches, research time is reduced from hours to minutes. Customer return procedures are automatically sent to the appropriate operator as required, reducing dependency on paper and minimising the chance for errors. Appropriate cheques and balances are built into the system to ensure that all factors required for accurate processing are considered.

As a result, return cycles are condensed and float is recaptured. Moreover, Inbound Returns Express turns the burden of special instructions into a welcomed opportunity to please customers and increase revenue.

For example, the system can easily incorporate special return handling requests that can be charged to the customer. Additional revenue opportunities include automated electronic re-presentment, bank notification features and item images on advices. These new offerings can be quickly implemented using the system’s flexible system parameters.

BENEFITS

• Improves productivity by automating inbound returns processes
• Reduces expenses by eliminating manual processes
• Increases revenue through new services
• Enhances customer service by accelerating the notification cycle and making new services available
• Reduces risk by allowing banks to identify fraudulent items more quickly
• Improves production quality by eliminating operator errors
• Supports RCK re-presentment
• Recognises and enables processing of IRDs and image exchange items
• Reduces IT expenses through a user-friendly, client server environment

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