Washington Mutual announced late last week that it had entered into an agreement with Unisys to capture check images in its financial center stores (branches).
Making this move now positions Washington Mutual to confront such industry issues as:
- escalating unit costs of processing paper checks;
- the shift to electronic transactions such as electronic bill presentation and payment;
- and the impact of the Check Clearing for the 21st Century Act, pending legislation to enhance the efficiency of the check system by allowing digital images in truncation, which can eliminate the need for a paper trail in check processing.
Speaking of WAMU, they’re saving the day for Seattle landlords as they’ve become the biggest corporate user of office space in Seattle.