In today’s banking world, that not only acting towards service accessibility via internet and technology, but also joined the environmental revolution encouraging minimal paper use, there is still one very popular product the belongs with the previous century - the Check!

DigiCheck is a service allowing virtual check transactions, which on the one hand overcomes all the shortcomings of existing paper check, and on the other hand opens up a new world of banking services and products that did not exist before.

Basic Transaction Process Sending a Check 1.Create a new DigiCheck 2.Typing the amount transferred 3.Typing email of the recipient. 4.Typing redemption date.

1. Recording / Attachment / referral link of a video / image. 6.Approval and submission.

Cashing a Check 1.Receive email alert on a DigiCheck waiting for you. 2.Typing the Digicheck number on the app. 3.View the attached media file. 4.Type destination account information + your phone number 5.Type verification code is sent by the bank via SMS. 6.Approval of the transfer.

Benefits to the payer Not required to know the recipient's account number Not required to issue a check book Ability to attach a file to remind what the Digicheck helped to pay for (receipt, Greeting for Event) Monitoring the outgoing checks in your bank account and get an alert before a check “bounces”.

Benefits to the payee Fast - deposit multiple checks with a lick of a button. Safer than holding to a paper check. Secure - Using today’s best online security available at the bank. Does not need to physically deposit a check in the bank. Can keep the attachment file for reference or a memento.

Benefits to the Bank Fraud Tracking - get alerted when clients spread checks they can’t pay off. Ability to limit checks amount for high risk clients or cancel their checking ability. Green - No use of paper for checks deposit receipts.

During the Hackathon, due to lack of time, we will focus on the basic transfer process of one check between two people as described above. However, we find it right to detail here the other features that we are planning to develop in the future:

Checks Control - Reports and Alerts View outstanding checks in your bank account. Push notifications Check redeemed Fear of a bounced check - Outstanding Checks (not yet redeemed) and the client is not able to pay them off (alert the customer and the bank) Monthly checks report (which was redeemed and what still stands) Alert the recipient of a check that he holds a check that has not cashed yet. Warning X days before redemption. Mark your calendar redemption checks Any checks Above a certain amount

New Features and Services

Check sharing - Multiple transactions from several payers concentrated to one transaction for one payee. example: Number of friends who wants to give one wedding gift (Check) with one video greeting. Neighbors in a building will transfer every month a concentrated maintenance tax to one account. Option to change the date or the amount after the check was written (with the payee approval).

Unique Modules

Events Module Groom/Bride side selection A "Who gave what?" report filtered by population types (couple’s parents, friends etc’) Custom graphic design for the email containing the check, according to the event. Option to upload/create a design by the user. Competition between clips of the best wedding blessing.

Module for Small Business and self-employed Issuance of an invoice/receipt with a personal logo of the business after a DigiCheck was received as payment. Calculation of VAT and income tax as per the checks received. This module will require a special licence with a yearly fee.

In a few years - no one will write aper checks! Let us be the first to actually give up on this product!