27 November 2014

Canada's Tangerine Bank selects AMP for cheque imaging

23 July 2014  |  1285 views  |  0 Source: All My Papers (AMP)

All My Papers (AMP) announced today that its software application, All My Checks, is in use by Tangerine Bank (formerly ING DIRECT). This Windows-based software application creates correctly formatted Canadian electronic Cheque Image Cash Letter Files for remote deposit to direct clearing banks.

All My Checks allows for secure and rapid implementation of the Canadian cheque image clearing process. Indirect clearing banks in Canada and the U.S. can now use the ready-to-run application to minimize operational costs and increase accuracy.

"The All My Checks application has helped us increase efficiencies and reduce costs associated with the back-end process for the popular Cheque-InTM feature of our Mobile Banking app," says Charaka Kithulegoda, the chief information officer at Tangerine. "The software has made processing easier and faster for our team, two things we always look for our technology solutions to offer."

All My Checks is in use by Tangerine Bank and has been certified for creating conforming electronic Cheque Image Cash Letters for remote deposit to a major direct clearing Canadian bank.

"Enabling fully electronic clearing of cheques will benefit both consumer and commercial Canadian banking customers", says Larry Krummel, President of All My Papers. "Increasing the efficiency of the cheque clearing process means faster access to funds and lowers the potential for fraud."

All My Papers supports over 50 proprietary US remote deposit formats based on various US cash letter standards as well as all of the US X9 standards. All My Papers supports the Canadian CPA 015 standard which is based on the US X9.100-187 standard. The direct clearing bank's Cash Letter File Format provides for electronic deposit from Canadian indirect clearers and US banks. It supports deposit of both Canadian and US Dollar items and differentiates between bank routing numbers. 

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