Truncation

In financial parlance, the practice of holding a check at the institution at which it was deposited – or at an intermediary institution – and electronically forwarding the essential information on the check to the institution on which it was written. – In a broader sense this procedure is used in cases of paper-based transfer orders or other financial instruments which get replaced, in whole or in part, by an electronic record of the content for the purposes of further processing and transmission. – See check image, check collection procedure, image-based.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
E-mail address: info@ekrah.com
https://de.wikipedia.org/wiki/Gerhard_Ernst_Merk
https://www.jung-stilling-gesellschaft.de/merk/
https://www.gerhardmerk.de/