Web-Enabled Incoming Returns Processing

The End of Printed Incoming Returns is Near

Did you know that the Federal Reserve will soon cease the paper delivery of your incoming returns? Are you prepared? Is your vendor prepared? You should be planning now on how to address the upcoming changes and how it will affect your ability to process these items. Most vendors have not yet addressed this most important and final phase of electronic presentment and processing.                                 

MSI Checkse Return Item Processing is an inbound return handling tool that allows any financial institution to upload a standard ANSI X9.37 returns file from the Federal Reserve or any other source, make chargeback vs. re-deposit decisions online from images, and then take appropriate reconciliation actions.

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Key Features and Benefits of RIP

•  Intuitive interface presents operator with all information necessary to
   efficiently make chargeback/redeposit decisions.

 

•  Easy to deploy and maintain: Operates as an online, Software-as-a-
   Service (SaaS) application over the Internet.

 

•  Review work can be segmented by status and reason code, allowing for
   specialization of operators by type of return.

 

•  For those items designated for re-presentment, produces x9.37 forward
   collection image cash letter files, or renders forward collection IRDs as
   PDF files ready for printing by the financial institution.

 

•  Renders charge-back notices & IRDs for charging back to depositors the
   items that are not re-presentable. Rendered charge-backs can be printed
   and mailed locally by the bank, or outsourced for same-day print and
   mail by MSI.

 

•  Produces necessary posting files, to core system specifications.

 

•  Powerful search capabilities.

 

•  Sophisticated multi-tiered user administration including role definitions,
   permissions, and workflow.

 

•  Operates modularly under MSI’s AccessDirect™ solution portal,
   providing single sign-on and cross-navigation for financial institution
   users who might have access to MSI’s other online applications.