Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : CheckFree Holdings Corp. (CKFR), the next Dell, Intel? -- Ignore unavailable to you. Want to Upgrade?

To: jjs_ynot who wrote (6983)	6/24/1999 12:58:00 PM
From: Harp	Read Replies (1) \| Respond to of 20297

Real time transaction processing in mixed mode (some internal, some external, some paper, etc) is a serious headache. Not the same as repitatively bulk processing the same 4 kinds of transactions (deposts, withdrawals, checks drawn and paid) in batch mode overnight. hey i'm not saying what ckfr does is easy!!! but, do you think ckfr is real time... no way, they batch them up every night too... paper bills go in this pile, electronic in that. --- and how many kinds of transactions does ckfr deal with? banks are now starting to do more complex types of check processing, ECP (electronic check presentment) with or without paper to follow, and soon with or without image to follow, and eventually with images on demand... if ckfr can get the next version of their software going where customers can logon, and see the current state of their payment (like looking at the current state of your fedex package) it will blow the banks away..

To: jjs_ynot who wrote (6983)	6/25/1999 2:48:00 AM
From: Dwight E. Karlsen	Read Replies (1) \| Respond to of 20297

No matter who does E-payment, it's a complex biz, and one institution who will have a lighter load with less paper checks is the Federal Reserve Branch Processing Centers: A stark example of the role the Federal Reserve Branch Processing Centers play in the processing of paper checks was revealed to me a month or so ago: step 1) As accountant at a private corp., I prepared a check for $39K, payable to our lender bank (for monthly interest on loans), to be drawn on our checking bank (two different banks). I mailed the check via postal service. step 2) Five days later, our lender bank received the check, and credited our account (date and amount showed on monthly statement, received by me later). Where did our lender actually get the money from? Not our checking account. step 3) Our lender (the payment recipient), bundles all checks made payable to them and ships them via truck to a Federal Reserve Branch. What they are saying is "we don't want to submit all these checks back to the various payers' banks, so you just give us the money now for the total, and you sort them out and send them". The Federal Reserve Branches willingly provide this service, processing very large quantities of checks daily. In this, the Fed is providing the sort of service that TEX has it's sights on for electronic form of payments. step 4) Surprise. I get my bank statement and cleared checks, but I don't find a check for $39K. Payment has been made, recipient received check and funds, but where is the check? It's at the Federal Reserve Branch (I and our lender the payment recipient weren't sure until our checking account bank finally received the check). It stayed there at the Federal Reserve Branch for 44 days (time between when our lender the payment recipient got their money from Feds, and when the money was actually removed from our checking account). I've balanced many a bank statement in my day, but this is the first time I've seen a check actually get lost at a Federal Reserve Branch, so they actually do a phenomonally good job, considering their volume and task complexity.