How to buy the best checking and financial documents

By Michael Cornnell

What’s New in the World of Financial Documents?

Looking for new products for the financial market? Bill Reid, vice president of marketing for Graphic Dimensions, Austell, Ga., and Tommy Gillis, managing member and senior partner at CFC Print Solutions, Grand Prairie, Texas, share what’s new at their companies.

Bill Reid: As a matter of fact we just launched a new technology that revolutionizes online check ordering. The new proprietary technology is called AFFIRM – MICR Verification Technology. Previously, check ordering online was very cumbersome. Users would have to provide a bank specification sheet or a copy of a voided check when placing an online check order. This was very inefficient, and having to provide these documents caused apprehension for the user. AFFIRM automatically verifies bank MICR spacing and fractional information. Users no longer need to provide this information offline. We are providing this new AFFIRM technology in our recently released CheckMate Online product. CheckMate Online allows a distributor customer to create, proof and order checks. We also have an e-commerce option that incorporates AFFIRM as well as licensing options for distributors with other e-commerce applications.

Tommy Gillis: We developed and are seeking a patent on a new authentication feature. We have named it Digital Micro Validation (DMV). We use proprietary software to digitally create a microprint signature line that mimics the consecutive gothic number printed on a check. Since this is variable software we are using, the consecutive number within the signature line actuates from check to check. So when the document is viewed under magnification, the signature line consecutive number must match the larger printed gothic number in order to prove its authentication.

Checks and financial documents: A steady, dependable line of business if you can get it, but also one that can be stressful and complicated due to everything from anti-fraud to overall speed of printing. Looking to take your financial document sales to the next level? See what some expert check and financial printers had to say below.

STACK YOUR SECURITY

There are a multitude of different security features for checks and financial documents—evaluating the pros and cons of all of them could fill up an entire issue of Print+Promo. But there is one simple, tried-and-true fact about security features you should know about: They work best in groups.

"We deal mostly with distributors selling to small and mid-size companies," said Bill Reid, vice president of marketing for Graphic Dimensions, Austell, Ga. "We've found that with these type of companies layering both built-in paper and printed security features is still the best way to deter fraud and provide due diligence."

Tommy Gillis, managing member and senior partner at CFC Print Solutions, Grand Prairie, Texas, agreed. "What is critical to the process of adding security/authentication to negotiable documents is equal overt and covert features that will deter fraud," he said.

PREPARE FOR THE WORST

Even the greatest printers can make mistakes, and printer error isn't the only thing you have to worry about with financial documents. All top-of-the-line security features will get cracked by thieves eventually, meaning that no financial document order is ever absolutely safe from harm. Because of this persistent risk, work with a financial printer who will partner with you and help you solve problems when they arise.

"Buyers also want to work with printers who will stand behind their product," said Reid. "Many discount printers provide a low price, but are hard to deal with when an issue arises. At the end of the day, if our distributor is not successful and their customers are unhappy, we are out of business," he continued. "It is a long-term relationship that we cultivate one order at a time."

Security Starts at Home

Having the latest and greatest security features is one way to protect financial documents against fraud, but if you want to give customers some additional security help they can implement on their own, check out this list of tips from Bill Reid, vice president of marketing for Graphic Dimensions, Austell, Ga.:

Secure your information—Keep checks, deposit slips, bank statements and canceled checks in a secure and locked location. Remove any opportunity for an employee to commit fraud.
Secure your outgoing mail—Many criminals look to steal checks from office outgoing mail or unlocked company mailboxes. A stack of unattended checks waiting to be picked up is a prime opportunity for fraud.
Destroy old documents—If not needed for tax purposes, destroy old sensitive documents.

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