Regulus announces the successful pilot of a commercial roll-out of Check 21 truncation. The processing of electronic images brought about by Check 21 further solidifies the company’s industry leadership in the evolution from paper to electronic processing.
Regulus, the nation’s largest independent provider of bill presentment and payment processing, today announced the successful pilot of a commercial roll-out of Check 21 truncation with a top nationally ranked bank. The processing of electronic images brought about by Check 21 builds naturally on Regulus’ existing electronic settlement expertise, and further solidifies the company’s industry leadership in the evolution from paper to electronic processing.
"Regulus and our bank partner share a commitment to image technology and image exchange," said Kathy Hamburger, Regulus President and COO. "We will continue to invest in electronic processing and develop solutions that facilitate improved value for our clients.”
The Check 21 law allows providers to transmit images of checks electronically rather than transporting paper checks across the country. Like ARC (Accounts Receivable Conversion), Check 21 provides enormous benefits to corporations by clearing checks faster, providing funds sooner and reducing check settlement from days to hours. These revolutionary changes in the check clearing process offer operational efficiencies and value in areas including return item processing, research, exception and fraud handling.
“As an advocate of Check 21, our bank partner knew they had a strong collaborator in Regulus," continued Hamburger. "We are delighted to build on our existing client relationship and expand our alliance."
Regulus is distinctively positioned to guide other corporations through the dramatic transformation that is influencing the payment industry. Regulus was first to market with ARC and is the only transaction processor able to seamlessly integrate large volumes of both paper and electronic transactions, uniting the entire billing and payment cycle under one provider.
About Regulus
Headquartered in Napa, California, Regulus (www.regulusgroup.com) is the leading U.S. outsourcer and integrated provider of bill presentment and payment processing; servicing nearly two billion paper and electronic items annually for Fortune 500 customers. Regulus provides an end-to-end solution covering every aspect of a transaction from the point when a corporation releases a billing file for invoicing to the posting of the associated paper or electronic payment, and thereafter in the support of customer care and collections. By exploiting the data from the total transaction, Regulus offers unique, value added services that provide measurable results with a positive impact across the payment cycle.
