Online Adjustments
The Small Value Payments Company announced a powerful successor to its online adjustments platform, which digitizes the entire adjustment process. The platform uses mandatory fields, allowing users to execute real-time exchange of information, including instant attachment of digital files containing supporting documentation.
The result is batch processing that can clear up most outstanding exceptions through an automatic electronic upload or download with no need for manual intervention or re-keying of data.
The system is entirely Internet-based and can be initiated from item processing, research, lockbox, and regional processing centers. It also makes adjustment available to members of other check clearinghouses.
Copyright © 2004 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 14, No. 9, 11/04
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