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RDC – Remote Deposit Capture

About Us

About Check21

The Check Clearing for the 21st Century Act (Check 21) was signed into law on October 28, 2003, and became effective on October 28, 2004. Check 21 is designed to foster innovation in the payments system and to enhance its efficiency by reducing some of the legal impediments to check truncation. The law facilitates check truncation by creating a new negotiable instrument called a substitute check, which permits banks to truncate original checks, to process check information electronically, and to deliver substitute checks to banks that want to continue receiving paper checks. A substitute check is the legal equivalent of the original check and includes all the information contained on the original check. The law does not require banks to accept checks in electronic form nor does it require banks to use the new authority granted by the Act to create substitute checks.
The Federal Reserve Board has released the final rule to implement Check 21, including the model disclosure language for depository institutions to use in notifying consumers of their rights under the law

About us

SmartCard Marketing Systems Inc (OTC:SMKG) is an industry leader in specialized industry e-commerce, cloud and mobility applications to the global PayTech and FinTech markets. SMKG is an entrepreneurial boutique technology company, providing business intelligence and digital transformation strategies with a proprietary portfolio of applications and wireframes for banking, enterprises, retail e-wallets, remote deposit, digital id, e-KYC, blockchain, cross-border FX, digital workforce, events management, education, tele-medicine and ride-booking industries.

What is a Cash Letter?

A cash letter is a group of negotiable items, usually checks, accompanied by a specific set of instructions for each of the items. Cash letters are normally sent to a clearing house or the Federal Reserve check collection system. They are also called transit letters.
1. Bulk Payment Center Processing
2. Corporate Treasury Customers

About the Technology

Check21saas platform is a Remote Deposit Scanning solution for Financial Institutions and Enterprises with multiple sources of deposit capture from branches, multi-locations, treasury clients and deposit customers. Easily implement a white label host solution throughout your ecosystem and set policies and terms. The platform also offers a variety of scanning options, mobile users API for integrations and an auditing and verification system to reduce fraud.
Now Artificial Intelligence can be a key part of the deposit taking capture and add more value to the data and knowing more about items being cleared or declined.

Our Banks

United States