Viewpointe, a leading provider of check image exchange and archive services, announced today that the Viewpointe Users Group (VPUG) has voted to recommend adoption of the Universal Companion Document (UCD) for X9.100-187-2008 as well as a timeline for compliance with the UCD.
This UCD was published in 2009 by the CheckImage Collaborative as a uniform industry approach for populating and validating check image files.
"This is an important next step in the process of reducing the inconsistent application of the standard for the exchange of check images," said Glenn Wheeler, president, Viewpointe Clearing Settlement and Associations Services (VPCS&AS). "By adopting this common file structure, financial institutions could potentially manage only one file type when exchanging images with multiple UCD-compliant image exchange networks."
The Viewpointe Users Group, comprised of representatives from across the Viewpointe archive and exchange customer base, recommended the approval of UCD adoption on September 15, 2009. Upon approval of the VPCS&AS Operating Committee, VPUG anticipates the following timeline for UCD compliance:
- Viewpointe clearing customers will have the option to exchange UCD-compliant files starting March 29, 2010.
- Viewpointe customers will be required to support sending and receiving UCD-compliant files on September 27, 2010.
- Viewpointe partners that prefer to exchange with each other without the format will be permitted to do so on an exception basis provided there is a written agreement in place.
"The recommended adoption of the UCD by the Viewpointe Users Group demonstrates a strong commitment to increase industry interoperability for image exchange participants," said Steve Cree, vice president, Sterling Savings Bank and VPUG chairman. "With the majority of checks moving in image-based exchanges, the need to further refine the current standard is underscored."
One of the biggest obstacles to true interoperability has been the adoption of a standard check image file format. The UCD establishes a consistent approach for all industry participants to use when processing check image files in an effort to address those ongoing interoperability issues.
"This move is great for the industry," said David Walker, President and CEO, ECCHO. "By reducing the inconsistencies in the exchange of check images, we are advancing an efficient check payment system."
The CheckImage Collaborative, initiated by ECCHO and the Retail Payments Office (RPO) of the Federal Reserve Bank of Atlanta, is comprised of representatives of trade and financial organizations throughout the U.S. A copy of the UCD is available through at the CheckImage Collaborative at checkimagecentral.org/ucd/.
"Viewpointe has been committed to interoperability and is supportive of our user group's move to adopt this standard," said corporate spokesperson Diane Scott, president, Viewpointe Emerging Business. "By reinforcing greater uniformity and efficiency, we are maximizing the value of the check payment system while moving one step closer to full check electronification."