What is Check21?

“Check 21” short for The Check Clearing for the 21st Century Act is most likely the broadest change to the Financial industry in the last four decades. This new law creates a standard for data content, layout, data elements and printing for what is to be known as an Image Replacement Document or “IRD”. With this new standard in place, financial institutions can now substitute an IRD as a legal equivalent of an original paper check.

What this means is that banks, credit unions and thrifts will realize substantial savings in the handling and movement of check related transactions that will no longer need to rely on the coordination of couriers, planes, trains and armored transport for the clearing of physical drafts. Instead unique image exchanges will be utilized to share check images and the values they represent between all financial institutions virtually eliminating the conventional methods of check processing.

Genikon's Check 21 Solutions

Genikon Corporation has harnessed decades of imaging and information management experience of its development and management team to provide real solutions to accommodate the Check Clearing Act for the 21st Century. These solutions start with the basics of check image capture software at the teller or front end as well as the hardware. After the initial image capture Genikon has a host of methods to complete check processing via its Image Exchange Solution or its Global Repository Platform. Each solution has its distinct advantages depending on the size of the institution and its initial capital investment requirements. Regardless of size, Genikon provides the best solutions at a great value so your establishment can start to realize the savings associated with Check 21.

Who is Genikon?

Genikon has over 20 years experience developing and deploying the most secure multiple hardware platforms and image exchanges. Our customers network requirements have capitalized on our experience with IBM’s AIX, Windows XP, 2000, NT, Linux and Sun Solaris. Genikon’s technical team also prides itself on their knowledge of major database platforms as Informix, Oracle, SQL and DBS. Genikon’s founders got their start building industry leading customized imaging solutions for some of the world’s largest institutions in the financial markets. Since then there’s been no looking back. Genikon’s current customer portfolio includes Banks, Credit Unions, State and County Treasurers offices and various Item Processors. If you would like to see how Genikon could best meet your Check 21 needs please contact us at sales@genikon.com or (813) 288-0488.