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Value Proposition

Since the passing of the Check 21 law in 2004, there has been an explosion in electronic payments, with one of the leading solutions being remote deposit capture (RDC), which captures digital images of items so they can be electronically processed for forward cash collection. Corporate One’s RDC solutions for both branch and merchant capture are effective solutions that will allow your credit union to maximize the benefits of RDC for significant time and cost savings. Along with this offering, your credit union can benefit from our ultimate cash management solution, The One Account.

CheckLogic™ Lite

CheckLogic Lite is an easy-to-use merchant capture solution, powered by eDOC Innovations, the nation’s leading credit union service organization (CUSO) for e-document strategies and provider of electronic document management (also co-owned by Corporate One). CheckLogic Lite will allow your credit union to grow revenue by offering a convenient and cost-effective business product to your merchant members, with the opportunity to expand your footprint to any business in the area. Best of all, your credit union can significantly reduce deposit costs related to these business items by taking advantage of RDC’s cost-effectiveness.

Benefits:

  • Significantly reduce deposit costs related to these business items, as indicated in the chart
  • Expand your credit union’s footprint to area businesses. Proximity is no longer a factor to gaining merchant business—now even those businesses that aren’t conveniently located to your credit union can easily make frequent deposits
  • Become more competitive for merchant business and strengthen relationships with business members by helping them streamline their business operations with a cutting-edge product that offers several benefits:
    • Merchants realize cost savings from time/staff efficiencies, a reduced number of paper checks being handled and the ability to cancel courier services, if used
    • Merchants can conveniently make deposits 24/7/365 without leaving the office; businesses with regional/national presence can consolidate banking relationships, reducing fees
    • Merchants can deposit checks more frequently, have greater access and control over their funds and eliminate the errors associated with multiple people handling each check
    • Merchants can maximize business efficiency and safety by eliminating the need for employees to make a trip to the branch

How does it work?

Your merchant member will scan and submit deposits in their on-site scanner to scan and submit the check using CheckLogic Lite’s advanced capture and electronic image forward processing. Your credit union will be notified of the deposit request so you can authorize the deposit.Along with this offering, your credit union can benefit from our ultimate cash management solution, The One Account.

Features

  • Centralized, user-friendly, Web-based software
  • Low cost of entry into merchant RDC market
  • Merchants can make deposits 24/7/365
  • Automated settlement provided by Corporate One
  • Automated system notifies when deposit approvals are needed; integrated review & approve process; DDA posting file automates to your business accounts
  • Accelerated clearing, lower processing costs
  • Security features include: duplicate check fraud scan, image rescan, image review and RDC location level balancing reports
  • Research items through comprehensive image database
  • Maintain historical record of items for compliance and review
  • Integrated w/ home banking
  • Robust internal reporting capabilities
  • Can be implemented independently of other processing platforms
The One Account

Our easy, competitive, integrated cash management solution has convenient overnight investment options, paying very competitive rates. With The One Account, you’ll have access to a full suite of cash management tools, such as Member$MART, our web-based account management system, making Corporate One the only place you'll need or want for effective cash management.