Paper Is Out. Real-Time Is In. How This Institution Transformed Paper Cash Letters into Real-Time Electronic Processing with Unify
Paper cash letters are costly and cumbersome—averaging over $19 per letter plus $5 per item. Switch to electronic cash letters (ECL), and those costs drop dramatically to about $7.20 per letter and just $0.015 per item.
For banks and credit unions, modernizing deposit operations isn’t just smart—it’s essential. Paper-based workflows drive up expenses, slow funds availability, and increase fraud risk. Manual sorting, bundling, and coordinating couriers create inefficiencies that add unnecessary overhead and delay service.
With ECL, items are captured, validated, and transmitted electronically in real-time. No more manual handling or batch dependencies—just faster, safer, and more streamlined processing that saves time and money.
Key benefits include:
- Faster funds availability with real-time transmission and clearing
- Lower operational costs by removing courier expenses and manual labor
- Reduced fraud risk through advanced image and data validation at the point of capture
- Centralized reporting and analytics for complete visibility across all deposit channels
Once electronic cash letters are in place, institutions gain end-to-end automation, consistent processing rules, and major savings on labor and courier costs—all while strengthening fraud protection.
This shift replaces outdated, manual workflows with a single, secure, and scalable solution. The result? Banks and credit unions can deliver a modern deposit experience today and position themselves for growth tomorrow.
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