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Tuesday, January 30, 2007
(DigitalTransactions.net)
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A sweepingly ambitious, nearly year-long effort to speed up end-to-end electronic processing of checks has been shut down by its organizers, the victim of multiple operational complications that proved in the end too hard to overcome. The Check-ACH Coalition, a group of some 65 financial institutions, trade groups, and vendors, determined late last week to stop its work toward merging elements of check image exchange and the automated clearing house network, according to an e-mail message to Coalition participants sent on Friday and obtained by Digital Transactions News...
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