ClearDeposits helps banks shift from outdated, siloed clearing systems to an integrated hub.

ClearDeposits consolidates any paper-based or electronic transaction from channels such as retail, consumer, corporate, mobile, or core banking application to allow for streamlined clearing and settlement.  ClearDeposits seamlessly integrates with a variety of clearing and settlement networks, including, Fedwire, SWIFT, correspondent banks, banker’s banks, the ACH Network, and card networks.  Whether a transaction is real-time, urgent, or batch/bulk, ClearDeposits provides an integrated hub that drives down costs, accelerates clearing, and improves reporting and compliance.

What’s more, with ClearDeposits, banks can easily standardize clearing rules and requirements across channels.  Changes to rules are made on an enterprise level, rather than an individual system level, ensuring a consistent customer experience.  Similarly, ClearDeposits helps normalize security controls across clearing channels. 

Additionally, by consolidating clearing and settlement channels, ClearDeposits makes it possible to perform duplicate item detection.  With the growth of remote deposit and mobile deposit, duplicates are the leading cause of check exceptions.