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Monday, January 08, 2007
(National Clearing House)
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January 8, 2007 (Dallas)—The National Clearing House’s (NCHA), the single largest settler of clearinghouse check volume in the United States, reported year-end image exchange volumes totaling more than 670.1 million items valued at $626 billion. The organization’s leap in image exchange volumes continued throughout December with a 15 percent increase in item volumes over November 2006.
In December, NCHA’s image exchange volumes reached 146.6 million items totaling $125.3 billion. Of the 146.6 million image items settled in December, 90 percent were both sent and received as images with the remaining 10 percent sent as images and then converted into substitute checks.
Fourth quarter image exchange item volume totaled 369.7 million items valued at $326.5 billion.
Image exchange volume now represents approximately 27 percent of NCHA’s overall volume, which totals more than six billion items annually.
“The fourth quarter of 2006 marks a significant time in the transformation from paper to image share and image exchange,” said Glenn Wheeler, president and CEO of NCHA. “The increase in image volumes is dramatic, however it is also significant in that the growth is coming from solutions where substitute checks are not being created, thus reinforcing the fact that financial institutions are becoming more and more image-receive enabled. These volumes also validate the successes of the NCHA member financial institutions, as well as NCHA’s partners, Endpoint Exchange and Viewpointe, that have implemented effective solutions for electronic exchange.”
About The National Clearing House
The National Clearing House (NCHA) is the single largest settler of clearinghouse check volume in the United States, settling more than six billion items annually. A member-owned and member-driven national association of financial institutions, NCHA provides check clearing, settlement, risk management and related services to 777 check processing sites representing 608 financial institutions and provides settlement and related services for 21 customer clearinghouses across the country.
NCHA is the only organization of its kind that provides settlement services for all types of transactions (ECP, Checks, Images, Manual Entries and Manual Adjustments) in a single application. NCHA provides a standardized platform and rules and has been recognized as the leader of settlement activities and the gateway to all major providers of both check and image services, including the top 20 banks in the nation, allowing its constituents the ability of choice.
NCHA supports all industry standards and continues to expand services through valuable partnerships and alliances in its commitment to provide risk management-related services, promote image exchange and assist the industry in the transition from paper to electronic clearing. Visit NCHA on the Web at www.TheNCHA.com.
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