X9 Returns

X9 Returns is a Microsoft Windows server-based Enterprise scale application for the inclearing of check items drawn on your bank and the expedient return of unpaid items though the banking exchange system.

X9 Returns runs on standard Microsoft infrastructure including Microsoft SQL server and Microsoft IIS web server.  User authentication is via Active Directory or other single sign-on service is supported.  Users interact with X9 Returns using a standard web browser.

The system can be hosted on a Windows server or may be run on separate servers for the Web and SQL components depending on the volume of check items to be processed and the number of simultaneous users supported.

X9 Returns may hosted in your computing environment - either locally or in the cloud.

X9-Returns-Dataflow

Description

BENEFITS

  • Automates the production of Return ICL Files
  • Routes your X9 Return check information to your core banking system
  • Reduces operational costs
  • Provides efficient research of return items
  • Automated reports and email notifications
  • Reduces costs through one-time license fee

Functions

  • Ingests inclearing X9.37/ICL files automatically into the system
  • Generates posting files compatible with core banking systems
  • Ingests Auto Return files from core banking systems to automatically mark items for return
  • Exports images to legacy image archive systems
  • Enables research via web browser based application
  • Generates Return ICL files
  • Detects duplicate received files and items
  • Sets configurable archival storage period for the received X9.37 ICL files

Whitepapers

Automation of Inclearing Return Items - A Case Study

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While check volumes in the U.S. have been steadily decreasing over the last 20 years, even at today’s volume, more than $86 Billion in transit items are returned to Banks of First Deposit (BOFD) each year. The introduction of image processing to the clearing of checks has increased the efficiency of the exchange system such that the Federal Reserve Bank now processes all checks at a single location eliminating the concept of a “nonlocal” check, reducing the clearance time and the opportunities for holds on deposited funds. These changes require that returned transit returns be processed as efficiently and expediently as possible to reduce risk of financial loss.

In 2014, All My Papers (AMP) was approached by a large regional financial institution seeking help to automate their transit check image return processing. Even though the Bank had adopted check imaging for exchange early in Check 21 era, their transit item return processing system was still largely paper-based. This system, which made use of printing and re-imaging of check items, physical routing of paper and use of disparate in-house generated computer applications did not scale well as the Bank grew.

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Contact All My Papers to automate check Image Cash Letter (ICL) file processing.