The Challenge

When a large Canadian organization needed to issue a high volume of cheques within a short timeframe, the stakes were high. Manual reconciliation across such vast volumes was not feasible — the client required a secure, automated solution to match issued cheques with deposits and flag anomalies before they turned into losses.

With counterfeit and altered cheques on the rise, especially in large-scale disbursements, precision, scalability, and trust were essential to protecting funds and maintaining public confidence.

The Solution

To address this challenge, the organization leveraged Image Account Reconciliation (IAR) — a powerful service within Symcor’s COR.PAY suite, delivered through its financial institution partner.

COR.PAY is a trusted payments-processing-as-a-service that enables Canadian financial institutions to reduce infrastructure costs, eliminate legacy risks, and improve customer experience for their commercial clients. A trusted backbone of Canada’s payment ecosystem for over two decades, COR.PAY processes the majority of the country’s cheques and help banks modernize for the future.​

COR.PAY’s IAR service automates cheque reconciliation and fraud detection using advanced image-based intelligence. Having seen its effectiveness in a previous engagement, the client quickly reinstated the solution for this high-volume campaign.

With minimal setup — simple file transfers and instant integration — IAR was live and ready to process the large volume of cheques.

The Results

Through Symcor’s COR.PAY IAR solution, the organization gained end-to-end visibility and control over its cheque reconciliation process — detecting fraud early, reconciling faster, and ensuring every payment was accounted for with confidence. Over a six-month period, the impact of IAR was clear:

• Over $2 million in fraudulent cheques detected and fraud prevented

• Automation reduced manual effort, allowing teams to focus on exceptions

• Built-in controls and audit trails strengthened compliance

• Faster, more reliable reconciliation improved accuracy and reinforced client confidence

By combining automation, security, and scale, COR.PAY IAR helped the organization streamline payment operations while protecting against fraud and ensuring continuity.

The COR.PAY Advantage

Built on Symcor’s proven national payments infrastructure, COR.PAY’s IAR service delivers the scale, reliability, and security that financial institutions and their clients depend on.

With COR.PAY, enterprises transform their disbursement operations from manual and fragmented to automated, auditable, and insight-driven — improving cash flow visibility, reducing fraud exposure, and ensuring seamless customer experiences. With a 25+ year track record of zero breaches — supporting top-tier financial institutions, COR.PAY:

• Handles 350M+ cheques annually 

• Protects 7,000+ Canadian businesses through reconciliation and lockbox services 

Available through leading Canadian financial institutions, Symcor’s COR.PAY suite empowers organizations to process payments securely, efficiently, and at scale — turning complex reconciliation into a trusted, automated workflow.

Talk to your financial institution about how Symcor’s COR.PAY solutions can help streamline disbursement operations, strengthen fraud defenses, and deliver secure, insight-driven reconciliation at scale.

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