In an era where “checks were away”, who would believe there are still 18B per year remaining. Luckily for financial institutions and the payments industry, we have an organization who providers leadership around checks; instituting rules which facilitate better, faster and more fair payments! Thank you ECCHO.
The list of accomplishments is impressive. Check out the list on http://www.eccho.org/25th_key_achievements. The one that jumps out to me is their impact on Check 21. Without David Walker, Phyllis Meyerson and the rest of the group, Check 21 may never have passed. Just think, we might still be using high speed reader sorters and shipping work via courier like Canada and the UK.
The value of having checks around is still strong, especially in the corporate world. OrboGraph is working on new innovations to further leverage recognition and automation technologies to enable final transformation of check processing. That means straight-through-processing, as originally envisioned, as well as using check data for downstream purposes currently not available…like payer and payee.
Don Samuels will be attending the next ECCHO meeting in Dallas in April, celebrating the 25th ECCHO anniversary. How about you?