Question: What do bank customers and employees need to know about Check 21?
Answer: Banks that prepare their employees and customers for the imminent changes Check 21 will bring will be at a significant competitive advantage and avoid a myriad of potential operational and customer service issues once the legislation is enacted on October 28, 2004.
Specifically, a bank's commercial customers need to know:
What Check 21 addresses, and what it does not address
How the law will affect their banks and their banking relationships
How the law will affect their business and customers
How they can benefit from Check 21
How they need to prepare to realize those benefits
The impact of Check 21 on risk and fraud prevention
Employee training should focus on:
Responding to and managing customer inquiries and concerns about Check 21 in a proactive manner
Handling the legal and risk issues associated with IRDs
Accepting and processing substitute checks efficiently
Meeting the consumer notification requirements imposed under the new legislation
Modifying systems, processes and operations to meet the October 29 date
Areas of the bank that will require training to prepare for Check 21 include:
Branches and Branch Operations
Check Processing Operations
WEB Based Banking Operations
Customer Service/Call Centers Deposit Operations
Statement Rendering Operations
Loan Payment Processing Operations
Lockbox Operations
Product Development & Management
Communications
Security
Marketing
Compliance
Legal
Carreker Corporation, a recognized leader in preparing financial institutions for Check 21, offers Check 21 Customer Awareness Seminars, as well as Check 21 Employee Training, with programs tailored to the unique needs of their clients. For more information contact Steve Hill, Carreker Global Payments Consulting, at 508.485.2283 or shill@carreker.com.
About Carreker Corporation
Carreker Corporation improves earnings for financial institutions around the world. The Company's integrated consulting and software solutions are designed to increase our clients' revenues and reduce expenses, while improving security and increasing the value of their customer relationships. Founded 25 years ago, Carreker is a $150 million company that provides products and services to more than 250 global clients. Carreker's global bank clients include: the top 20 in the United States and 75 of the next 100; the top six in Canada; the top four in the United Kingdom; the top two in Ireland; the top five in Australia; three of the top four in South Africa, and select financial institutions in South America, Mexico, and the Caribbean. Headquartered in Dallas, Texas since 1978, the company has offices around the world including in Atlanta, Memphis, Charlotte, London, and Sydney and employs more than 600 industry professionals. For more information about Carreker Corporation, visit our web site at www.carreker.com.
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