Amount Encoding
Verification™
IMPROVE CUSTOMER SATISFACTION WHILE
LEVERAGING YOUR IMAGE INVESTMENT
Miscoded checks and deposits are
an historic problem for financial
institutions. For banks that handle
millions of transactions daily, even
a tiny error rate can create a customer-satisfaction
problem and can be costly to correct.
Since about 1 in 5,000 transactions
are encoded with the wrong dollar
amount, banks are concerned with
the customer service problems they
can cause.
Carreker's Amount Encoding Verification
(AEV) enables banks to correct check-handling
errors before they are posted to
customers' accounts. Using optical
character recognition (OCR) technology
to compare the courtesy amount from
a check image to the MICR captured
amount, the system flags mismatched
items so that bank operators can
make corrections.
With AEV, financial institutions
are now able to catch previously
undetectable errors at the time of
presentment, significantly reducing
customer problems and the additional
bank resources required to fix them.
BENEFITS
- Reduces checking account errors
that irritate customers
- Improves customer retention and
satisfaction
- Reduces research and adjustment
expenses
- Eliminates bank losses due to
encoding errors
- Minimizes single item deposit
quality review expenses
- Compliments a bank's strategy
to increase core deposits and grow
organic revenue
- Leverages the banks image technology
investment or helps justify the
image infrastructure
For more information about this solution, contact
Doug Halvorsen at 704.602.5335 or complete our Information
Request Form.
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