Central Bank, Jefferson City, Mo., has tapped CheckFree's Returnworks, Remitworks and MICRworks solutions for check conversion. Offered in conjunction with US Dataworks, a Houston-based ACH software manufacturer, the software suite enables the conversion of paper checks into ACH transactions and manages the related process that follow this conversion, including processing returns and initiating service fees.
Central Bank will implement the new software suite in-house to streamline its existing returns processing service for corporate customers. With this solution, Central Bank can maintain control over its services and avoid the expense of third-party service providers. As a result, Central Bank can continue to service its customers directly, strengthening critical corporate relationships on a one-on-one basis.
"The added functionality of the CheckFree and US Dataworks solution will help us expand into new markets, enabling us to provide value-added services to large retailers and merchants," according to Mark Rehagen, a spokesman for $5.4 billion Central Bank.
All check conversion software runs on MS Windows-based client/server architecture and is integrated with Central Bank's existing PEP+ ACH environment. The software also incorporates Thomson Financial Publishing's EPICWare database to map the MICR line from a check to a valid ACH format.
The software is in compliance with all current NACHA guidelines and regulations for electronic check conversion, which includes the conversion of returned checks (RCK), checks received in a lockbox for Accounts Receivable Conversion (ARC), and transactions at point of purchase (POP), over the Internet (WEB), or over the telephone (TEL).
Central Bank expects the new ACH services will be generally available for customers within the next nine to 12 months.