SunTrust Bank announced today new enhancements to its Online Check Deposit service, which allows businesses to save time and money and better manage their cash.
Using a certified scanner to capture check images, businesses can submit the images to SunTrust electronically from their office for deposit.
One key enhancement that helps businesses with multiple locations save time and improve account reconciliation is the ability to add a numeric identifier in the auxiliary on-us field on the virtual deposit ticket. Companies that have various offices, locations or business units, such as retailers, title companies, leasing offices and municipalities, can easily distinguish which locations make specific deposits. Another feature added recently is the ability to access Online Check Deposit from computers that are not connected to the certified check scanner and monitor online deposits from a central or home office on the same day that the deposit is made.
Additionally, SunTrust Online Check Deposit now supports five scanner manufacturers and ten different scanner models, providing more options to meet the specific needs of individual businesses. This greater selection also makes it easier for businesses to switch to SunTrust from another provider because the scanner they may already have likely works with the SunTrust solution and would not require additional investment.
"At SunTrust we are committed to conducting ongoing research to help us understand the needs of our business clients - and we continue to hear that time constraints are a significant challenge," said David Fuller, executive vice president and division head, SunTrust Treasury & Payments Solutions. "Enhancements to solutions such as Online Check Deposit that continue to improve time-consuming cash management activities allow us to help businesses get through the work day and focus on the things personally and professionally, that are important to them."
Other new enhancements to Online Check Deposit include:
- Enhanced Reporting Options - Businesses can create reports to meet their needs, in their preferred choice of file format (Word, PDF, HTML, or Excel). They can also easily print or export images as part of a report.
- Extended Transaction History - Businesses can now review deposited items within the solution for up to 45 calendar days allowing for improved duplicate item detection and reporting.
- Improved Image Recognition - New software provides better image integrity and quality for more accurate check amount read rates.
- Enhanced Compatibility - Online Check Deposit is now compatible with Microsoft Windows Vista, 32-bit version.