CheckAlt Introduces ATM Reconciliation to Speed Settlement

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New Service Helps Financial Institutions Find and Fix Missing Deposits Quickly and Easily

CheckAlt today introduced CheckAlt ATM Reconciliation, a new service for banks and credit unions that enables them to settle their ATM terminals faster, identify missing deposits that do not post to a customer’s account, and detect and find checks not sent to correspondence for clearing.

“We are dedicated to developing new ways to help banks and credit unions save time and money,” said Shai Stern, co-chairman and CEO of CheckAlt. “With CheckAlt ATM Reconciliation, our clients can greatly reduce the time they spend on ATM settlement, potentially saving them countless hours per month. With the time saved, clients can redeploy their resources more efficiently.”

By taking a match file from the financial institution’s terminal and running it against the transactions in CheckAlt’s item processing system, CheckAlt is quickly able to identify missing deposits. As a result, CheckAlt’s clients can find and fix issues quickly and with less effort and resources.

CheckAlt ATM Reconciliation also consists of a series of reports designed to help in the settlement and reconciliation process, including a Matched Transaction Report, Exception Transaction Report, and a Transaction Summary Report for accounting and balancing purposes.

CheckAlt ATM Reconciliation is available now. For more information about CheckAlt’s item and payment processing services, visit http://www.checkalt.com.

About CheckAlt
CheckAlt is a Check 21 application and processing provider. CheckAlt assists financial institutions in more efficiently processing their items from all capture points within the bank or credit union, and in attracting and retaining business customers with innovative white label payment solutions. Additionally, CheckAlt offers easy-to-integrate APIs for mobile and web developers that want to accept Check 21 payments. Products include eChecks, Item Processing, Remote Deposit Capture (RDC), Mobile, eCommerce, and Lockbox Services. Find out more about CheckAlt at http://www.checkalt.com.

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Josh Wendroff
CheckAlt
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