Banking Financial Software & Banking Industry Software Solutions: FAQ's

Banking & Financial Software FAQ's

Are there any ongoing transaction-based fees if I license any component of the Merchant Suite of banking and financial software?: There are no transaction-based fees. You pay a reasonable upfront license fee, so costs are easy to budget, and you are not penalized for any growth the bank experiences.

Am I locked into using a specific check scanner?: No. The Merchant Suite supports forty different check scanners from handfeed desktop scanners to the largest high speed transports.

How do you ensure accurate, first-pass image and MICR capture?: The system incorporates CAR/LAR technology that improves speed and accuracy in the image capture process for time savings in data entry/processing, error correction and balancing routines.

Does the system have research capability?: The Merchant Suite banking software solution creates an image archive for enhanced operations and customer service. Field level indexes provide powerful multi-criteria search capabilities by individual or entire transaction. The software enables the bank to burn images and data together to CDs or DVDs for backups and offsite distribution.

Does the system interface with accounting systems?: If you are capturing payment coupon information as well as check images, the software system generates transaction files that interface with leading accounts receivable applications such as Great Plains, Solomon, Peachtree, QuickBooks and more.

How many different types of transaction documents do you support?: The Merchant Suite banking software solution supports transactions involving checks only, coupons only, checks with payment coupons and multiple transaction documents — also, wholesale support for large payment documents, full-page list items, tax forms, multi-page documents and other specialized large forms.

Is my data secure when I make my remote image deposit?: Yes. All data transmissions between merchant and bank are performed using the latest encryption.

Is the software in compliant with Check 21 standards?: The Merchant Suite banking and financial software supports electronic check conversion to Check 21 X9 standards, including digital and IRD formats and accounts receivable conversion "ARC." Banks can accept and pass customer's electronic deposits through to their regular check clearing system.

What is involved when my bank wants to install Merchant Capture at a customer site?: Installation literally is a "one click" event. The software and equipment is so easy to use and user-friendly that training can be accomplished in less than an hour. The bank does not have to be in the software or hardware support business.

How scalable is the system?: A bank can start with Merchant Capture (remote deposit) to enable its commercial customers to remotely capture check images and securely transmit electronic deposits to a consolidation server at the bank. The Merchant Suite of bank and financial software can be expanded at any time to include Merchant Remit. This application can be used by banks to provide the following options:

How do I set up business processing rules for each line of business?: Merchant Remit's project builder module is an easy-to-use tool for defining the business rules of how Merchant Remit processes specific lines of business and jobs. Merchant Remit banking financial software system supports unlimited downstream clients, lines of business and job types. Processing rules are defined by job elements including, batch types, document types, scan-lines, scan-fields, check digit routines, check endorsements, field types, indexes and search criteria.

How efficient is the job stream throughput?: The Merchant Suite incorporates three distinct tools to assist processing efficiencies. These include "smart balancing", "account linking" and "key-from-image."