3 In the second, the MICR information is transmitted to the paying bank while the check images are stored in remote archives that can be accessed on demand. Both models are already being used to some extent and each has its advantages and disadvantages.
I suspect that, as the industry gains greater experience with electronic check collection, the superiority of one of the models may become clearer. Those who favor the first model believe that it allows paying banks to better manage their risks and customer relationships.