Businesses can soon process their check deposit transactions more conveniently in the comfort of their homes or offices using their mobile devices with a new service
from the Rizal Commercial Banking Corporation (RCBC).Mobile CheckScan is an additional feature of the previously launched RCBC CheckScan. Introduced by RCBC in October 2020, RCBC CheckScan is a first-in-market cash management solution that enables corporate clients to process bulk checks safely and efficiently through digitalization.
“This innovation is the best solution for businesses receiving part of their sales proceeds via check. It allows them to manage their collections in a very efficient manner despite the limited mobility and physical contact demanded by the current situation,” RCBC Senior Vice President Eric Buenaflor said. “It’s also very easy to install and use.”
RCBC CheckScan consists of a state-of-the-art digital check scanner linked to a computer workstation on client premises and the accompanying software. Once activated, the application scans checks and generates images compliant with Philippine Clearing House Corporation (PCHC) Image Quality Assurance (IQA) rules, which are then transmitted to RCBC for clearing and settlement. RCBC
CheckScan can handily process 50 checks a minute and provides easy reconciliation of check receivables via daily reports.
Mobile CheckScan, its mobile version, will be available for both Apple iOS and Android. After installation on their smartphones, clients only need to take a photo of the check, and using the app, transmit the image to RCBC for further processing before clearing.
Mobile CheckScan allows multiple users to deposit checks into the company’s nominated accounts, and at the same time, gives finance & accounting managers and business owners the status of check deposits across all company users. It will be available by the end of May 2021.
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