CheckFax Remote Deposit Capture Technology Enables Deposits from Fax Machines and Multi Function Devices
Wenham, Mass. — June 3, 2011
— Lighthouse Consulting Group, LLC, a management consulting firm and
remote deposit capture (RDC) innovator, today announced it has received
a United States patent for its CheckFaxRDC application.
In a process
similar to banks accepting check deposits through dedicated check
scanners attached to PCs, the LCG technology allows users to deposit
personal or business checks into their bank accounts from their offices
by using imaging devices they already own, such as fax machines and
multifunction devices (MFDs). No PC is required. Carriers convey checks
and deposit information. Three Easy Steps: 1) Enter deposit
information; 2) Adhere checks to carriers; and 3) Fax. The now-patented
application relies on LCG’s expertise in RDC technology and
understanding the needs of small and home business that deposit 100 or
fewer checks per month.
The U.S. Patent and Trademark Office granted LCG patent No. 7,950,698 B2 on May 31, 2011.
“We’re pleased
to receive the U.S. Patent Office’s formal notice that our CheckFaxRDC
application is now a patented capability,” said LCG President Bob
Popadic. “We made it simple and convenient for the user, and at the
same time designed it for easy integration into existing RDC and check
processes. We invested a lot of thought leadership, time and money
into making CheckFaxRDC a unique way to deposit checks for the millions
of small and home business people who otherwise would be unable to
enjoy the benefits of remote deposit capture.”
CheckFaxRDC
allows the use of single sided imaging devices for RDC, while assuring
the integrity of the deposit and individual checks. A unique identifier
enables pairing of front and back images of checks regardless of the
order in which the checks are imaged or transmitted. The LCG software
receives the transmitted carrier images, including checks and deposit
information; extracts, crops and aligns the checks; assesses image
quality; pairs the front and back images of checks; reads check and
deposit data; relates and proves checks to the deposit; handles
exceptions; and sends the data into the RDC workflow.
The patent
covers a method for remote depositing negotiable instruments: using a
carrier that permits imaging of the front and back of the negotiable
instrument; securing the negotiable instrument to the carrier; creating
a unique identifier on the front and back sides of the carrier;
generating an electronic image of the negotiable instrument and unique
identifier; transmitting that image; and pairing at a remote location
the front and back images using the unique identifier.
The patent also
covers providing an area on the surface of the carrier to provide
deposit information, and securing a deposit ticket to the carrier. Also
covered are a variety of carrier types and methods for preventing
redeposit.
A video demonstrating CheckFaxRDC in use is available at www.LCGLLC.biz
About Lighthouse Consulting Group
Lighthouse Consulting Group LLC is a management consulting firm serving
the needs of financial institutions, their vendors, suppliers,
associations and regulators. LCG addresses a range of business
strategy, product design and technology issues. The LCG team has many
years of involvement with payment systems, check processing and remote
deposit capture. CheckFaxRDC and CheckScanRDC are innovations that have
grown out our consulting work. For 15 years, the Company has served the
financial services industry. For more information about Lighthouse
Consulting Group, contact us at 978-468-5900 or visit www.LCGLLC.biz.
Contact:
Lighthouse Consulting Group, LLC
Bob Popadic
RPopadic@LCGLLC.biz
978-468-5855
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