Archive for June, 2010
CONIX-DSS to provide integrated Day 0/1 exception processing solution.
Jun 29th
CONIX and Data Support Systems (DSS) have partnered to provide an integrated Day 0/1 exception processing solution to the banking industry http://conix.com/News/pr_DSS.asp. The solution steering committee formed early this year and consisting of representatives from 4 different banks and 1 major outsourcer is providing guidance on the direction of the solution. With CONIX’s Day 1 payments and exception processing experience and DSS’s command of the Day 2 exception processing arena, the partnership will expedite the availability of an end-to-end/”total” solution.
Same-day ACH service FedACH
Jun 28th
The Fed will begin providing same-day ACH settlement for consumer checks converted to ACH and online- or phone-initiated consumer debit transfers starting Aug. 2nd. The duplicate payments between ACH and Check can and will likely appear before a bank can blink its eyes. A cross-channel Day 1 exception processing solution is an imperative in a same-day ACH environment. Maybe a bit of an increase in duplicates and other exceptions, but a definite issue on the timing. Originating banks will enjoy faster settlement of converted payments while the receiving banks will be under the gun to identify exceptions due to early cut-off times. For details on the Fed’s plans: http://www.federalreserve.gov/newsevents/press/other/other20100621a1.pdf
Frank Stokes of CONIX featured in American Banker
Jun 7th
Frank Stokes, CONIX Systems’ President of Technology, was recently featured in American Banker’s Viewpoint to discuss the risk management of remote deposit capture and image exchange. Stokes discusses the need for earlier identification and resolution of exceptions.
BAI Webinar on Acceleration of Exception Processing
Jun 7th
CONIX is working together with BAI to provide an open forum for discussing the acceleration of Day 2 exception processes into Day 1. Speakers will include Carl Bortol (DSS), Paul Carrubba (ARLAW), Tim Dillow (BB&T), and Cyndi Rhodes (Symcor). Please join us on June 8th 1:00-2:00 CT. Register here - http://www.bai.org/events/webinars/details.aspx?ec=0165&et=webinars
