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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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