Fed bank launches truncation effort. (Federal Reserve Bank of Minneapolis will use imaging technology to eliminate paper check distribution) (Brief Article)

ABA Banking Journal, March, 1994

Fed bank launches truncation effort. The Federal Reserve Bank of Minneapolis is taking the lead among the Fed banks to offer advanced check truncation services to member banks. The Minneapolis Fed is using imaging technology from Cincinnati Bell Information Systems (CBIS) that eliminates the need to return paper checks to banks for distribution back to customers.

The checks are image-captured and stored on optical disk systems, which simplifies archiving and retrieval tasks. CBIS is serving as the systems integrator for the project.