Product category:
Printing Companies: General Commercial
News Release from: Checkprint | Subject: Checkprint Banking Assistant
Edited by the Printingtalk Editorial
Team on 17 February 2006
Mail Order Firm Benefits From Checkprint
System
Lakeland has become the latest company to feel the benefits of a product that efficiently logs customers' cheques and enables them to be easily tracked.
Lakeland has become the latest company to feel the benefits of a product that efficiently logs customers' cheques and enables them to be easily tracked Lakeland sells a range of more than 4,000 products through its mail order catalogues and handles up to 4,000 cheques a day
This article was originally published on Printingtalk on 26 Apr 2005 at 8.00am (UK)
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UK security printing and services specialist Checkprint has won a contract to supply Rathbone Investment Management with its cheque printing software - the Checkprint Solution.
It has installed the Checkprint Banking Assistant Professional at its headquarters in Windermere, Cumbria (UK).
The Banking Assistant, which is provided by Checkprint uses a combined magnetic ink character recognition reader and image scanner to capture the codeline details and amounts of all cheques being deposited.
It can integrate with companies' own accounting systems, allowing users to define fields for tracking batches and individual deposits.
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The Banking Assistant is available in versions to suit organisations of all sizes with differing levels of functionality and types of image scanners tailored to individual requirements, said Checkprint.
Banking Assistant Professional, for example, can offer dual-sided image capture, an automatic feed, high-speed scanner and a network version.
"We consider the introduction of this technology to have been a sound and cost-effective solution to a continuing daily task.
The staff preparing the cheques for banking find the new system far less physically demanding than an adding machine," said David Fielding, treasury operations manager at Lakeland.
And he added: "In the same time as it took the company to add list a batch of cheques the Banking Assistant has added, imaged and recorded the value, account number and bank sort code of the cheques.
This information is then instantly retrievable making it very easy to find out if a particular cheque has passed through our system." He commented that the system has the added advantage of enabling Lakeland to meet the banks' and regulatory authorities' requirements for companies to keep records of all payments to and from the bank.
Once all cheques have been imaged through the Banking Assistant scanner and validated, a credit slip can be printed automatically.
"The slip is then passed through the scanner, which captures the details and the image," explained Martin Ruda, managing director of Checkprint.
Ruda added: "This information is added to the bank listing, which is printed out whilst the batch of cheques is saved within the system ready to be recalled or printed if there are any queries.".
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