Thanks to Check 21 legislation, digital versions of checks are now considered suitable substitues for checks. Once a check has been scanned, it can be immediately deposited electronically and the original paper check can be destroyed. This technological advance has made it easier for businesses and consumers to deposit funds at the bank. ABM offers the hardware and software required for businesses to change the way they process payments and make deposits.
Customers who wish to process payments and automatically update their accounts receivable when payments are received will use ABM’s payment processing solution. Customers seeking simply to deposit checks remotely without updating receivables balances will use ABM’s remote deposit solution.