Truncation and Electronic Cheque Presentation (TECP) Program
The key goal of this program is to meet the Canadian Payments Association (CPA) mandate for Truncation and Electronic Cheque Presentment (TECP), which is targeted for late August 2008. This date is currently under review while the CPA assesses the program status within the industry.
The program will ultimately deliver the infrastructure to allow financial institutions to process payments by cheque using images of cheques, rather than the physical cheques themselves.
INTRIA’s Participation in TECP
INTRIA’s TECP program continues to deliver to the CPA timelines at the same time that it is delivering technology updates within INTRIA’s business operations. The initial phase of image-enabled cheque processing has been delivered to the first INTRIA client, and other client rollouts will follow in 2008.
Clients and their customers who have experienced the benefits of image-based cheque processing have been delighted with the ability to retrieve images in real time. One reported that a recent investigation request that might normally have taken a few days was resolved in only a few minutes, contributing to a positive customer experience.
For more information on how cheque imaging and TECP are transforming the Financial Services industry, consult the CPA Web site at: www.cdnpay.ca.