CSC Creates New e-Delivery Banking Product

Secure Electronic Delivery of Enterprise Checks and Banking Reports Saves Time and Money

Using the Internet, banks can now offer their business accounts a faster, more secure, less costly method of cash management, thanks to CSC’s new e-Delivery software.

An innovation to the CheckVision suite of products e-Delivery packages private financial data in high-volume transaction environments for secure distribution across the Web. For even more security, CSC’s CheckVision encryption can be added. The system’s ease of use makes the decryption processes transparent for the bank’s customers if the appropriate decryption key library is present.

With e-Delivery, a bank’s commercial customers can receive their cash management statements, banking reports and associated check images as a downloadable data bundle that will self-install onto the customer's computer after the key library is verified. For data redundancy, at the customer’s option, the bank can also ship the information on encrypted CD-ROMs using CSC’s CD-ROM Plus system.

"e-Delivery is an important niche product designed to fill a market void in image-based payment delivery systems,” said Jerry Blodgett, director of Payment Solutions and Fraud Prevention for CSC. “Many commercial bank clients have not yet accepted either Internet banking or physical CD-ROM delivery. The e-Delivery software is designed to specifically address the needs of this client segment, allowing them to maintain control over their payments data while providing more economical and timely delivery of information.”

Security breaches at major financial institutions have hit the headlines recently, alerting the world that thousands of customers have had their private information exposed to information theft and fraud. Savvy banks are searching for ways to decrease risk and keep their customers’ goodwill and trust now, rather than waiting until local or federal regulations force them to act. In the new Check 21 image-exchange environment, digital check images and image replacement documents also come into play, heightening concerns about data theft.

CSC’s e-Delivery is designed to interoperate with the viewers and other user interfaces and the data delivered with CD-ROM Plus. The faster, more efficient and less costly e-Delivery method also allows banks to provide cash management data to their customers more frequently. The module lets banks easily migrate their CD-ROM clients to e-Delivery or provide clients a combination of the two delivery products.

More on CSC’s CD-ROM Plus and Encryption

Each month, more than 3 billion checks move through the U.S. banking system. Banks typically offer commercial accounts the option of cash management CD-ROMs to replace paper reports and returned checks. Customers’ check information and images, reports and statements can then be locally stored and controlled and searched on a variety of data fields. With hundreds of these CD-ROMs burned and shipped from the bank each month, there is a risk of one being lost, stolen or misdirected.

CSC’s industry leading data encryption method employs a symmetric key algorithm using the U.S. Department of Defense Advanced Encryption Standard (AES) with up to 256 bit keys. CheckVision’s just-in-time encryption process creates a special customer key CD that banks send to their commercial customers to install and store on their network drive or on individual PCs that require access to the protected data. Thereafter, cash management data downloads or CD-ROMs leave the bank encrypted by CheckVision and can only be decrypted by that customer with its unique key library.

Banks insist on offering flexibility, so encryption is optional on a per-account basis. The bank’s customers can choose to have all downloads encrypted or select certain accounts, and the system also supports multiple encryption key libraries per customer.

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