EFC • Systems

Payments >> DigiFunds Remit

Corporations can benefit from a remote deposit capture solution for lockbox and remittance processing. DigiFunds-Remit™ can provide your company the tools necessary to implement the latest technology in payment processing with a complete bundled system comprised of software and check scanner. Benefits to be gained from DigiFunds-Remit™ include; expanded deposit window, reduced courier costs, consolidated bank relationships, accelerated clearing, improved availability, improved cash flow, less risk on returned items. Automating your deposit process can combine two formerly separate functions into one. Remittance processing and Treasury functions can now be accomplished on a single platform.
DigiFunds-Remit™ is PC-based and produces industry standard ACH and Check 21 file output facilitating electronic payments while simultaneously providing a robust document storage and retrieval system. DigiFunds-Remit™ accommodates either plain or MICR-encoded remittance documents with OCR for expedited data collection. CAR/LAR functionality reduces manual data entry and associated key stroke errors. With DigiFunds-Remit™ has a simple work-flow, your company can begin making electronic check deposits immediately! Simply scan checks and remittance documents (1 to 1 or 1 to many), verify amounts, preview balance verification report, create and upload files and your check deposit is complete. CAR/LAR feature for populating dollar amounts reduces manual data entry. Returned ACH items can be easily re-initiated with DigiFunds-Remit™. Simply find the original item in the appropriate archive, click the Re- initiate button, and select the deposit date, return code; even charge a returned item fee. Now the item is ready to be included in your next ACH file for that deposit date. Need to print a copy of a check for a customer? DigiFunds-Remit™ Filter feature allows for easy search and retrieval of archived documents. Archives can be created in daily or semi-monthly files; you choose the method that best suits your operational needs. Your remittance processing can now be streamlined with DigiFunds-Remit™ Export feature. There is no need to re-key those check payments into your accounting system, just export the information from DigiFunds-Remit™ via ASCII text, CSV or fixed width file formats. You choose the fields and order for the export.

DigiFunds-Remit ™ features: ACH and Check 21 File Output - Produces NACHA formatted ACH and ANSI X9.37 Check 21 files MICR Capture - Automatic parsing of MICR line for field population OCR– Define zones on remittance documents for auto data population during scanning CAR/LAR – Dollar amounts from scanned checks are populated based on confidence level Single or Multiple remittances per check – System supports 1 to 1 or 1 to many Multiple Image Formats - Group IV-TIFF or JPEG image formats Check Fraud Detection - Set parameters for duplicate document warning Document Status - Determined by font color and graphical representation allows for quick editing of exception items Import Feature - Allows import of consumer data and the following SEC transactions: PPD, WEB , TEL Archive - Automatic archiving of image and data during ACH/ Check 21 file creation Document Filter - Multiple search options permit easy retrieval of document records Consumer Database - Capable of populating the Name and ID fields for check records during scanning Re-Present Electronic Check Options - Allows returned ACH items to be re-presented electronically Export Feature - Export data for posting to 3rd party applications User Level Security - Control access to all areas of the software View Edit History - Review edits to Account, Routing and Check number fields by user and date