Better check image and deposit processing—save your casino time and money
October 18, 2012
By Cummins
Allison
www.cumminsallison.com
To
meet the 24/7 schedules of the casino and gaming industry, today’s properties
need to increase efficiency and streamline back-of-the-house check processing.
Unfortunately, checks create a productivity roadblock for many casinos: they
need to be photocopied and stored, in some cases for several years. This can be
a drain on limited resources—taking up a great deal of employee time and using
unnecessary paper, toner and storage space—not to mention the wear and tear on
copy machines. The numerous pain points associated with processing checks, both
from employees and patrons, demands a better technology solution.
TRADITIONAL TECHNOLOGY SOLUTIONS CAN LEAD TO NEW ISSUES
Casinos will often opt to use a traditional, horseshoe-type
scanner (sometimes selected by their financial institution) to scan their
checks and make electronic deposits via Remote Deposit Capture (RDC). While
using this type of scanner and RDC combination might seem to be a better option—for
example, checks no longer need to be photocopied and hardcopies can be stored
for considerably less time—they can present unforeseen issues. Such as a
scanner that is very slow and jams frequently, or one that when it jams makes
it difficult to track what documents might have been missed, leading to errors
such as duplicates.
Other issues that can arise include a high incidence of
“piggybacking,” where two documents are pulled into the scanner at the same
time and the image links the front of one check with the back of another—so that
the hidden parts are not captured. Piggybacking results in a potentially
serious problem for a casino’s financial institution (FI), as a mixed image
could result in an unauthorized account deduction, a missing deduction for the
amount not visible, and/or a violation of privacy when a check or endorsement
image is sent to the wrong account holder. Plus, duplicates and piggybacks that
become exceptions add processing time for the FI, and they may charge higher
fees as a result.
AN ALL-INCLUSIVE SOLUTION FOR FASTER/BETTER DEPOSIT
PROCESSING
Speed, performance and imaging errors can make scanning
checks a time-intensive process for casino staff: but it doesn’t have to be
that way. Casinos now have the option to invest in a new check processing
solution that is all-inclusive—the JetScan iFX. With the JetScan iFX, gaming
properties can not only prepare their deposits quickly and easily, but they can
also archive and manage their check images, process currency and even process
and image tickets—all on one machine.
What’s more, implementing this new deposit processing
technology is neither time consuming nor labor intensive—the speed and
straightforward operation make training quick and uncomplicated. In many cases
the JetScan iFX can interface with existing bank software and be deployed
quickly with no loss of data and the currency processing modes used with an
existing scanner are oftentimes still available on the JetScan iFX. Casinos can
also maintain their electronic deposit capabilities by ensuring that the device
is acceptable to their FI.
Savings can be achieved by deploying a single device
that has multiple capabilities: processing currency, tickets and even checks. By
maximizing the equipment’s footprint, casinos can make more productive use of
employees’ time. With this solution in place, employees can:
• Process cash at 1,600 bills per minute, equivalent to 40
percent faster currency processing
• Scan tickets at 1,200 items per minute, equivalent to 85
percent faster ticket-imaging
• Scan checks at 400 documents per minute
• Reduce errors thanks to fewer steps and a simplified
deposit interface
• Decrease or eliminate time spent rescanning through better
image quality
There’s no reason to gamble on the technology solutions that
ensure a casino’s gaming operations run smoothly. With a higher-quality check
image scanning solution in place, casinos can achieve more efficient deposit
processing, which has a direct impact on their bottom line—saving time, money
and labor.
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