Posted By: Baker
X9 files - 08/21/20 09:08 PM
Is anybody familiar with X9 files? Clients have the ability to submit their own Inclearing File directly to core processor via a X9.37 file.
They utilize a vendor for submitting their X9 file to JH. Essentially, the vendor provides an app for consumers to use to “mobile deposit†their checks directly to the Company’s acct.
Just wondering what risks are to the bank, what precautions should be put in place, monitoring, contract language. Would there be any reasons not to allow this? Should it be limited to certain clients? What is process for determining who should be allowed to have it?
Really just looking for any input. Thanks!
They utilize a vendor for submitting their X9 file to JH. Essentially, the vendor provides an app for consumers to use to “mobile deposit†their checks directly to the Company’s acct.
Just wondering what risks are to the bank, what precautions should be put in place, monitoring, contract language. Would there be any reasons not to allow this? Should it be limited to certain clients? What is process for determining who should be allowed to have it?
Really just looking for any input. Thanks!