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Check 21: Is IRD Really a Four-Letter Word?

Product Type: Market Research Report
Published by: TowerGroup
Published: July 2004
Product Code: R301-1065
Description
This TowerGroup Research Note discusses the differing perspectives of the Federal Reserve System and many financial services institutions, identifies the pros and cons of IRDs, and projects the future use of image replacement documents. The research does not attempt to cover all the aspects of Check 21.
Table of Contents
TowerGroup Takeaways




Report Coverage




Background


Exhibit 1: Federal Reserve System Interdistrict Check Presentment Process (2004)

Exhibit 2: Forward Presentment of Image Replacement Documents in the US (2004)

Exhibit 3: Image Replacement Document (IRD) (2004)




Is IRD a Four-Letter Word?

Delays Full Electronic Presentment

Increased Operational Complexity

Costs and Risks Associated with IRD Usage


Exhibit 4: Federal Reserve System Pricing Range Example (2004)


Customer Statementing




IRD Volume: The Key Factors

FRS Pricing and Funds Availability

Non-Image-Enabled Banks Influenced by FRS Incentives

IRDs for Return Items

Remote Image-Based Deposits

IRD Providers and Volume


Exhibit 5: Projected Image Replacement Document Volume in the US (2005-10)




Summary
Ordering and More Information
Price and Delivery Options


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