Replacing Dot Matrix: Banks Build a Business Case

Question:

We're a community bank that uses dot-matrix printers to print checks and money orders. Although seriously considering a refresh to MICR laser printers, we have yet to develop a business case for a replacement if we choose to do so. What is the correct approach?

Answer:

Given technology advancements and changes in check clearing regulations and practices, it is certainly a matter of when - not if - you will need to replace current check printing systems. You'll certainly want to approach this with care since it's your check issuance business process that ultimately suffers if the new system doesn't meet these changing requirements. Below are the main components for your business case to replace dot matrix printers with MICR laser printers.