Electronic Check Processing and Deposit

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Accounts Receivable Conversion (ARC) / Check 21
Solution
Electronic Check Processing and Deposit Inovium
RapiDeposit
Power Point Show will run automatically
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Business Challenges

• Increase efficiency by alleviating time consuming
  processes
• Modify antiquated filing systems
• Quicker access to receivables
• Consolidation of accounting for multiple
  locations

Business Opportunities

• Checks deposited faster
• Sale tool for reselling
• As part of a front-end RCK System for potential
  clients
• Drastically reduces transaction fees

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Understanding Check 21

• What is Check 21?
• - Check 21 provides a Retailer/Merchant or Biller
  with the opportunity to convert any type of paper
  check, for purposes of transiting it
  electronically, where it may re-emerge in the
  bank clearing system as the legal equivalent of
  the original check through a substitute check
  document known as an Image Replacement Document
  or IRD.
• - It is applicable to ANY type of Check or
  instrument with a MICR
• line
• Magnetic Ink Characters at bottom of every check
• - It does not require permission or
  notification of any kind
• - IRD must meet certain formatting requirements

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Check Clearing Process
Merchant deposits 100 check into their Bank
account
FEDERAL RESERVE BANK (FRB)
March Bank routes check to FRB

• Provides funding to Banks

• Provides check transport system by planes,
  trains trucks

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Inovium Corporation
ARC / Check 21 Solution
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ARC / Check 21 Solution

• Inoviums Accounts Receivable Conversion (ARC) /
  Check 21 Solution in
• conjunction with our superior Image Replacement
  Document (IRD) technology, is a
• premier single point of entry system that
  processes and deposits any type of paper
• check received via U.S. Mail or at payment
  locations, deposited as electronic
• transactions.
• Processes thousands of checks per day with
  deposits credited into your bank account within
  24 to 48 hours
• Built on a flexible, web based infrastructure
  allowing easy integration to our various types of
  imaging scanners
• Seamlessly capture accurate check images and MICR
  data information that automatically appears in
  the data entry fields
• Manage your business transactions online, 24/7
• Upload and import files into your data processing
  or accounts receivable system

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Key Features

• Submit checks and transfer funds electronically
  anywhere, anytime, anyplace
• 24/7 access to retrieve check images and
  authorization via our secure website
• Real-time verification database reduces risk of
  accepting bad checks and collection costs
• Upload files to update your in-house accounts
  receivable system
• Checks received through any remote or branch
  office/store locations can be deposited through
  one banking institution/account, simplifying bank
  reconciliation processes
• Alleviate a trip to the Bank
• No Bank deposit fees
• Save space and money No need to store paper
  checks or deposit slips
•  

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Technology Behind ARC /
Check 21 Solution
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Imaging Technology

• Imaging technology using multiple types of check
  imaging
• scanners linked to a Web based system allows you
  to
• scan checks.
• Digital Check TS 230/100
• Accepts 100 checks at a time
• Processes 60-80 checks per minute
• Images both sides of checks in one pass
• Digital-Check TS 230/65
• Accepts 50 checks at at time
• Processes 65 checks per minute
• Images both sides checks in one pass
• Digital-Check TS 215
• Accepts Single checks at at time
• Processes 20 checks per minute
• Images both sides checks in one pass

Digital Check Scanners
Post to Inovium Web Hosted Software
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Scan. Transmit. Process
1.

• Merchant receives checks for payment
• of goods and services
•  

The checks are scanned using one of Inoviums
imaging scanners  
2.
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Scan. Transmit. Process
The checks are scanned and processed via
Inoviums high speed web hosted software and
transmitted through the ACH.  
3.

4.
The Inovium system automatically distinguishes
and converts Consumer items, processed as ACH
items with Non consumer items including
corporate checks and payroll checks into Check
21 IRDs.
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Scan. Transmit. Process
5.
Inovium electronically debits funds from the
customers account and deposits funds in Merchants
bank account. Funds are available within 24 to 48
hours, alleviating a trip to the bank.  
Upload files into Inovium Solutions account
receivable system.  
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Inovium Application This is how to Post the
Scanned Checks
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Log in with User Password
Click on Easy Scan ICON
Enter Password that was recorded in Configuration
File during Setup
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Main Screen
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Scan Checks
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How Scanned Checks Appear

• Review of Column Descriptions
• Double clicking on 1st Column the check image
  will enlarge
• Column 2 Unique ID Optional Field for
  Operator to enter
• Column 3 - Customer ID Optional Field for
  Operator to enter
• Column 4 - Bank Routing Number from scanned
  check
• Column 5 - Check Account Number related to Bank
  Routing Number
• Column 6 - Check Number
• Column 7 - Check Amount The amount of the
  check to be recorded
• Column 8 - Type Operator manual override of
  type of check to be processed
• Column 9 - Confirm Check can check after
  recording Check Amount or can click on Confirm
  All - The Total Confirm amounts must balance to
  the Batch Total
• Note Always review all data. The Check Scanner
  does have an accurate read rate as to ABA ,
  Account Number, and Check Number, but it is
  possible to have a misread or an error.

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Posting of Data
After all checks have been confirmed and a grand
total has balanced, the operator has the
following options 1 Export Pre-Process -
Allows for the file to be saved and or to be
reviewed prior to posting the file for deposit.
2. Export File for Deposit For any file that
is ready to be deposited to the Processor for
processing. (Refer to depositing to Processor
after complete instructions on use of the
scanner)
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Posting of Deposit directly to RPC RapiDeposit
Payment Central
When ready to deposit the batch to be process
click on command button
Confirmation that you are ready to close session
and deposit funds
Where the data is to be saved. This window will
appear and the file will be saved here upon
clicking on the save command.
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Posting of Deposit directly to RPC (Cont)
To save report of checks process
Confirm the Deposit Report
After selecting which account the funds are to be
deposited click on ok to deposit the funds
directly to RPC RapiDeposit Payment Central
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Posting of Deposit directly to RPC
Indicators that the file was posted to RPC and
saved
Email Notification of Deposit being posted to RPC
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Funds to be deposited Into Payee Bank Account
Directly from the Federal Reserve
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Benefits for, YOU

• Process all checks electronically
• Easy-to-use solution, requiring only a check
  scanner and internet access
• Centralized Bank deposits for multiple company
  locations
• Reduce Bank transaction return fees
• Upload and import files to update your in-house
  accounts receivable system
• Recover your returned items as quickly and cost -
  effectively as possible
• NSF Checks will be reported within three (3)
  business days Merchant can redeposit immediately
  and keep all fees

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Conclusion

• Accounts Receivable Conversion (ARC) / Check 21
  Solution in conjunction with
• our superior Image Replacement Document (IRD)
  technology provides
• Easy-to-use solution, requiring only a check
  scanner and internet access
• 24/7 access to retrieve check images and
  authorization via our secure website
• Concise, real time reporting available on-line
• Real-time verification database reduces risk of
  accepting bad checks and collection
• costs
• No Bank deposit fees
• Files to update your in-house accounts
  receivable system

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Inovium Corporation is Committed to Providing
Superior, Affordable, ACH and Check
Processing Solutions
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Getting Started
INOVIUM CORPORPATION 10300 W Charleston Blvd.,
13-214 Las Vegas, Nevada 89135 Tel
702-254-6385 Fax [phone] www.inovium.com Con
tact Sales Marketing E-mail sales_at_inovium.com
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