E
XECUTIVE SUMMARY
With more than a 75% market share in North
America, Ingenico is the leading provider of MICR
recognition devices in the United States. The com-
pany’s latest check reader is the e
N
-Check 2500SP.
In addition to superior MICR recognition and an
ergonomic design, the e
N
-Check 2500SP can be
equipped with a special detector that will read a
stealth mark which can help detect counterfeit
documents.
This White Paper describes some of the
business problems facing the retail banking sector.
It then looks at Ingenico’s MICR recognition
solutions as well as our latest innovation, the
ability to read invisible marks on checks.
R
ETAIL BANKING: CHANGES AND
CHALLENGES FOR THE “BRICK AND
MORTAR” BANK BRANCH
The retail banking market has undergone
tremendous change over the past ten years.
Technological advances have enabled “brick and
mortar” bank branches to implement distributed
processing based on more powerful PC’s and
Intranets with greater bandwidth. This has enabled
branches to reduce the cost of communications
while expanding the branch-level customer
services they offer.
Additionally, ATM access, home banking via
PC, mergers, acquisitions, and changes to banking
laws have opened new distribution channels and
have subsequently made room for new competitors.
These elements have combined to increase the
pressure branches feel to provide even higher
levels of customer service. “Cross selling” and
“one-to-one marketing” have become the catch
phrases commonly heard among bankers.
As closed systems were replaced by open
systems and terminals by personal computers,
opportunities to enhance customer service and
reduce transaction costs presented themselves.
While change has provided opportunities for
bankers, it has also provided opportunities for
criminals. Counterfeiting has become the manner
of choice when a criminal wants to rob a bank.
Both the back office operations and the branch
operations are vulnerable to counterfeiters.
1.
C o m b a t i n g C h e c k C o u n t e r f e i t i n g a t t h e Te l l e r W i n d o w
A White Paper Discussing Issues and Solutions to the Ongoing Problem of Check
Counterfeiting
e
N
-Check 2500SP
INGENICO
