Better check image and deposit processing—save your casino time and money
October 18, 2012
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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