Seems "idiotic" until you understand the issues. One fundemental reason for retaining and transfering digital images is to retain the original authentication data. In more and more cases, these dollars are cleared and settled with ECP (micr) data and electronic cash letters, with out the paper.
Remember e-check? michael versace :: niteo partners, inc national director, financial services 321 summer street boston ma 02210 www.niteo.com [EMAIL PROTECTED] 617-895-3042 (o) 617-794-0425 (m) -----Original Message----- From: Robert E. Frank [mailto:[EMAIL PROTECTED] Sent: Wednesday, June 11, 2003 5:44 PM To: Don Park; [EMAIL PROTECTED] Subject: Re: Largest Overhaul Of Check Processing In 50 Years In Sight ----- Original Message ----- From: "Don Park" <[EMAIL PROTECTED]> To: <[EMAIL PROTECTED]> Sent: Wednesday, June 11, 2003 11:50 AM Subject: RE: Largest Overhaul Of Check Processing In 50 Years In Sight > > Did I read this correctly? > > Transferring _images_ of paper-checks? > > > > The US banking industry must be one of the most under-developed > > areas of the entire e-universe! > > It sounds idiotic, but sometimes simple solutions work best in a complex > hodge-podge of legacy issues. But then, I am not too happy about digital > images of my signature being tossed around. > > Best, > > Don Park > http://www.docuverse.com/ > http://www.docuverse.com/blog/donpark/ Actually, due to the need to record and preserve mixed data types on both sides of a check for audit and liability purposes, they have little choice. I would expect the banks to distribute via signed PDF formas to minimize interoperability issues between financial institutions, law firms, government agencies and clients. Robert Frank http://www.opencommerce.com/company.html
