The member quality allows Panini to share their experience with Remote Deposit Capture (RDC) and Branch Image Capture (BIC) with financial institutions and industry stakeholders across Europe. These applications enable financial institutions and businesses to convert check payments and related documents to electronic transactions for clearing activities.
The Efma and Panini have joined forces to undertake a Check Optimization research project. Consulting company, AGIS Consulting was commissioned to conduct research and analyze check truncation initiatives throughout the world, specifically targeting Australia, Brazil, France, India, Italy, South Africa, Turkey and the UK. The report is aimed at analyzing the future of checks and offer practices on using check truncation. The research findings will be made available to Efma members during an Efma Club webinar on September 2012.
In addition, the two organizations have created an online Check Processing Community Forum to bring together key participants in the financial services industry. The forum was created for Efma members to exchange information, knowledge and best practices regarding check related topics. The community enables participants to share ideas and trends on the optimization of the check value chain, elaborate on check truncation process and provides a networking platform for individuals with similar responsibilities and concerns.
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