Image-Based Bank Tellers Launched Overseas

An image-based teller system being implemented by the Community Bank operated by Bank of America is reducing check-processing time at overseas bases. The new system employs the latest technology and incorporates features of the recent Check 21 Act. The system reduces the processing time between when a check is written and when it clears a customer’s bank account. It uses scanners at each teller station that convert checks and other documents to digital images at the point of presentment. The software balances the transaction, creates electronic transaction history journals, archives items in a central database and ultimately creates an image cash letter for transit check processing. The system is already in place in Japan and Korea and is being implemented at Community Banks in Europe. It also will be installed at Community Bank branches in Kwajalein, Diego Garcia and Guantanamo Bay.