National Clearing House Association teams up with Endpoint Exchange

Journal Record, The (Oklahoma City), Aug 12, 2002 by Ray Carter

The National Clearing House Association has agreed to act as settlement agent for the 12th District check-image exchange operated by Oklahoma City-based Endpoint Exchange, a national check-clearing network that uses imaging technology.

Planned for September, the exchange will allow any image-enabled financial institution to request NCHA membership and participate in the Endpoint Exchange image exchange with settlement through NCHA. The partnership will also accelerate collection, eliminate check transportation costs, and reduce fraud and other check collection risks, officials said.

The 12th Federal Reserve District (based in San Francisco) is geographically the largest of the 12 Federal Reserve Districts, covering 35 percent of the United States and serving about 52 million people, or close to 20 percent of the nation's population. Well over 8 million checks a day are processed in the 12th District geographic area, said Mark Craig, general manager of Endpoint Exchange.

"Endpoint Exchange is attracting more and more financial institutions because more organizations are sharing our vision of a single, cost-effective national check image exchange network for electronic check clearing and settlement," Craig said. "Leveraging the payment system is essential for every bank, regardless of its size."