Mandated by The Canadian Payments Association, cheque imaging is being rolled out in all Canadian credit unions, sparking a few grumbles from members
"Instead of a week-long clearing process that sees five million
paper cheques physically transported each day between financial institutions
and through processing centres, these organizations and their service
providers are now beginning to capture digital images of cheques and
transmit them electronically. This new technology speeds up the clearing
process and offers options for new products and services and new ways
to combat signature forgery and cheque alteration."
- by Diane Luckow