The Financial Services Technology Consortium said Tuesday that its members have made significant strides toward a potentially paperless check- clearing system.

The consortium, which includes Citibank and several other of the biggest U.S. commercial banks, demonstrated two types of image processing that participants said could evolve into full-scale check truncation.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.