Online Check Processing for Payment Processing Company

Client Profile:

The Company: Online Payment Processing Company
Location: UK
Industry: Finance & Management

The Objective:

Setting up a process of transferring data from all checks to a software/online web application within a stipulated time frame. This is to be followed with verifications of the SLF rejected by the OCR, payee and the amounts in cash and studs.

The Challenges:

  • Highlighting efficiency and keeping the cost low while providing improved quality as demanded by customers.
  • To plan the batch of data entry experts, well versed with financials of a foreign country
  • Verify SLF rejected by OCR, payees and amounts in cash as well as studs – simultaneously.
  • Enter the data in the software in a given time frame, with zero errors.

General Benefits:

  • Accurate check processing banged with online data entry streamlined the payment observing for multiple plans, divisions & organizations – as per client requirements.
  • Final results were highly cost-effective and timely.
  • Errors and inconsistencies in the entries were mitigated by 45% through multi-layered quality check process.
  • The activity helped the client flow in deliverance of successful premium fundraising and membership projects and programs to our various clients

The Solutions:

  • With the approval of client workflow was discussed, designed, developed, where online data entry operators would enter all the data from the checks to a software/web based application in a given time frame.
  • Assigned 15 operators on the project who made entries of more than 140,000 checks daily.
  • Project was difficult involving high risks; hence to reduce unwarranted dependencies and implementation errors, we established a smooth communication channel between key staff members to comprehend the existing data systems, as well as their current and future business requirements.
  • The final entries were thoroughly checked for any inconsistencies or problems. Issues found were handed over to concerned operator for rectification.

Data Entry Operators Performed Enlisted Task:

  • Scan Line Fix – Verify the SLF rejected by the OCR system.
  • Payee Verification – Verify the payee.
  • Amount Entry – Enter the check amount.
  • Date Entry – Enter the check date.
  • Stub Entry – Enter the stub amount.
  • Balancing – Cross verify the amounts in check and stubs.

Technology / Software Used:

  • OCR, Client Web-Based Application

Quick Enquiry