Products

CPI is committed to changing the value proposition of mobile deposit capture (MDC). Whether a bank or financial service company, a comprehensive suite of MDC products and services have been specifically developed to simplify entry, contain costs and consolidate the various components necessary for full cycle MDC. As providers merge traditional bank deposit and instant non-recourse funds availability, the functionality of MDC transaction as well as the settlement and returns management present challenges that few anticipated. These challenges have been the subject of much debate and early adopters are already recognizing a lack of transaction types and settlement services necessary to effectively manage the process.

By developing the MDC delayed and instant deposit functions to settle through CPI’s integrated check 21 settlement platform. Simply stated, our mobile menu of transactions merges instant non-recourse, delayed and pre-approval MDC functions and consolidates settlement of those transactions on a single settlement platform and already integrated into CHEXAR® Network’s check guarantee program.

DepositChoice is the most advanced and versatile Check-to-Card (C2C) platform in the marketplace capable of depositing check images from mobile phones, tablets, ATM/Kiosks, retail or branch locations. DepositChoice is a turnkey solution providing image quality assurance, instant or standard deposits, Intelligent Deposit Routing (IDR), image presentment, clearing and settlement, returned items management and card funding notification. Simply, DepositChoice is the only platform a prepaid card program manager, bank, financial services organization or retailer needs to capture the underserved customer and grow their card base.

Real-time Image Quality Assurance – As the proliferation of image capturing devices occurs in the marketplace it is important to identify images that don’t meet standards. DepositChoice incorporates technology ensuring that every image submitted meets image-clearing standards before accepting it for deposit.

Instant or Delayed Deposits – DepositChoice is the only C2C platform offering depositors a choice as to how quickly they receive access to their funds. Users selecting a Delayed deposit will receive their funds in 2-3 days without incurring a fee. Users desiring immediate access to their deposited funds can select Instant deposit and have instant access to their funds for a small fee.

Intelligent Deposit Routing (IDR) – DepositChoice is the only C2C platform capable of identifying Instant and Standard (Delayed) deposits and processing images according to the unique presentment, clearing and settlement requirements of each deposit type ensuring that funds are directed to the depositors on time. IDR makes it possible to offer depositors a “Choice” of an Instant or Standard (Delayed) deposit.

Image Presentment, Clearing and Settlement – all image presentment, clearing and settlement requirements are managed by DepositChoice, thereby eliminating the need for a secondary or tertiary vendor relationship. DepositChoice is flexible and powerful enough to manage extended deposit cut-off times and multiple image cash letters to any US financial institution.

Returns Module – DepositChoice automatically provides notification of the returned items, captures all returned item information, associates the returned image with the original image and details the reason it was returned providing more timely and relevant data to assist in managing your depositors.

Card Funding Notification – DepositChoice connects to all issuing platforms and automatically transmits the amount to be funded to the card. In the case of a Delayed deposit with delayed funds availability, DepositChoice automatically tracks the designated days-delay and sends funding instructions on the appropriate day eliminating the need for internal resources to manage the funding of C2C transactions. Schedules of deposit amounts and funding dates are provides in report form and electronically to management.

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Clear ECD (electronic check deposit) is the industry’s newest generation of Remote Deposit Capture technology. The architecture and processing platform is proprietary and designed to manage and flex with the development cycle of an emerging industry. This Microsoft .Net platform offers two basic architectures. An API integrated version in addition to a 100% outsourced non-integrated solution. CPI direct clients and distribution partners, provide access to tens of thousands of RDC touch points never before accessible through earlier generations of RDC product. Clear ECD effectively supports a variety of internal office, retail and mobile (field capture) environments.

Our partners benefit from large menu of standard features and rely on our ability to quickly react when customization is required. As a payment provider, CPI maintains and adheres to the highest levels of security and compliance and performs annual SAS70 audits on all systems and processes.

• X9 Presentment to Your Financial Institution(s)
• Split Settlement Funding: Immediate and Delayed
• Consolidated Transaction & Fee Data
• Integrated Returns Management
• 3-Way Guarantor, Client and Bank Reconciliation

Settlement is the process of electronically aggregating checks from your entire operational footprint and presenting the items directly to your bank(s).

Advanced Settlement applies flexible methods of aggregating your volumes to one single concentration bank, or multiple banks for unique regions or scenarios supported by alternate FIs. As utilized in the DepositChoice™ platform, the instant guaranteed deposits and the delayed deposit are automatically parsed into two deposits, the instant deposit to CHEXAR fiduciary account and the delayed deposit to the program sponsor or banks DDA. Though reported on a single reporting console, the deposits are segregated to simplify reconciliation.

These and other settlement options enable you to determine optimal cash concentration and dictate settlement methodology to meet your specific business requirements.

Settlement is the process of electronically aggregating checks from your entire operational footprint and presenting the items directly to your bank(s).

Advanced Settlement applies flexible methods of aggregating your volumes to one single concentration bank, or multiple banks for unique regions or scenarios supported by alternate FIs. As utilized in the “Deposit Choice” platform, the instant guaranteed deposits and the delayed deposit are automatically parsed into two deposits, the instant deposit to CHEXAR fiduciary account and the delayed deposit to the program sponsor or banks DDA. Though reported on a single reporting console, the deposits are segregated to simplify reconciliation.

These and other settlement options enable you to determine optimal cash concentration and dictate settlement methodology to meet your specific business requirements.

Re-engineering business processes and applying electronic management systems that reduce labor costs and enhance information outputs most often achieve best practices. A key focus of Clear Payments’ comprehensive technology is to electronically re-engineer your depository management to achieve best practices for a diverse group of industry verticals.

Our reporting engines are designed specifically to empower automated reconciliation for environments with numerous deposit points. Whether your company manages a large number of regional locations, a geographically dispersed footprint, a large number of locations, or a mobile collections, Clear ECD’s data structures enable customized reporting in electronic and manual formats that support capture and extraction of data for posting and reconcilement. Contact Clear Payments to see how our depository data management tools can help you achieve best practices.