Financial institutions use the phrase “Day 1 processing” to describe the period when a check enters the payment stream for settlement. Not all checks require “Day 2” processing, which is when those with exceptions are managed.
Download Alogent's payments and deposits glossary.
Alogent provides proven, end-to-end check payment processing, digital, online, and mobile banking, and enterprise content and information management platforms to financial institutions. Our unique approach spans the complete transaction ecosystem —capturing and digitizing transaction data, exception tracking, and automating entire transaction and loan management workflows so that information is available across the enterprise.
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