Similar to identity theft, this type of fraud happens when an unauthorized individual gain access through online banking applications, capturing the account information to create and write bad checks.
An adverse action notice is a document sent to a loan applicant stating a bank’s rationale for denying a loan. It may also contain a counteroffer, such as a lesser amount or a request for an approved co-borrower.
The term “aging exceptions” refers to a group of critical exceptions that have not been resolved within a reasonable amount of time.
Altered check fraud occurs when a fraudster changes the amounts and Payee from a stolen check.
Audit and exam prep is a process that financial institutions go through in order to adequately prepare for upcoming audits and exams.
An authorized signer form is a document that allows an account holder to grant a range of clearance levels to individuals to perform certain functions within a bank account.

Barcode scanning is a method of using barcodes to identify what a document is and where it belongs in a file. When properly utilized, barcodes can streamline a bank or credit union’s document management workflow and reduce the likelihood of documents being inserted into the wrong file. This can enable the financial institution to scan and index more documents in less time and with improved quality assurance.

Barcode scanning is particularly helpful when dealing with large amounts of documents that would otherwise have to be broken apart into smaller groups prior to scanning and indexing. Commercial loan teams tend to be heavy users of barcodes given the document-intensive nature of commercial lending.

Barcode Technology & Use Cases

Typically, barcoded banking documents are located on the document itself or on a cover sheet.

Barcoded documents: Certain doc prep systems allow users to include barcodes directly on the documents. Depending on the system, embedded barcodes may include information about the document type, account holder’s tax id, account number, loan date, or other pertinent details.

Barcoded cover sheets: Some banking document management systems offer the ability to generate barcoded cover sheets for documents that are not already barcoded by the source system—or for use in combination with barcoded documents. For example, the barcode on a cover sheet might identify the individual account holder, while the embedded barcode indicates document type.

3 of 9 barcodes and QR codes are common types of barcodes used in banking.

Leveraging Barcode Scanning

To increase the impact of barcode scanning in banking, some banks and credit unions implement document scanning and imaging systems that work with both barcoded documents and cover sheets.

For example, AccuAccount can read barcodes from many loan origination systems to understand document type. Combining barcoded documents with barcoded cover sheets from AccuAccount allows users to ensure documents appear in the correct customer or member’s file and in the correct document tab. Learn more about the variety of scanning and imaging solutions for AccuAccount.

Document Management Resources

For additional information about document imaging and management, be sure to check out our extensive resource library. Download free spreadsheets, whitepapers, and eBooks.

You can also browse our banking definitions page to continue reading terminology.

Explore more resources

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AccuAccount: Solution Overview Brochure

Track and manage every loan document in one system and streamline loan management from application through servicing with our core-integrated software platform. From loan application automation, to drag-and-drop document imaging, to document tracking, and five...
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