Details

Shift Timings Any shift during 03:30 PM to 08:30 AM IST (Candidate should be adaptable as per business requirements)

In US banking, item processing - end-to-end management of paper checks and electronic payments. Fueled by check imaging and electronic clearing, banks use systems like Fiserv or CSI to sort, clear, and settle transactions while resolving exceptions and mitigating fraud.

The Lifecycle of a Check

- Capture & Truncation: When a check is deposited (at an ATM, via mobile capture, or at a branch), it is converted into a digital image. The physical paper is usually truncated (destroyed or stored securely) rather than physically transported.
- Data Extraction: Optical Character Recognition (OCR) and AI extract data from the check, including the routing number, account number, and amount.




- Clearing & Settlement: The digital file is sent to a clearinghouse (such as the Federal Reserve or private networks like The Clearing House). The clearinghouse facilitates the transfer of funds between the depositor's bank and the paying bank.
- On-Us vs. Interbank: If the check is written to an account at the same bank where it was deposited, it's considered an "on-us" item. On-us items are processed in-house, bypassing external networks, which speeds up settlement and lowers costs.
- Posting: The paying bank verifies the funds, clears the item, and debits the check writer's account.

📌 Fresher ( US Shifts ) (Noida)
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