Cheque Truncation System - Cheque Truncation System

BANKING & FINANCIAL SERVICES

Cheque Truncation System

Digitize cheque clearing and deliver efficiency and scalability with Newgen's Cheque Image Clearing System (CICS).

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Our Cheque Image Clearing System (CICS) or Cheque Truncation System (CTS) reduces the time taken to clear cheques by converting physical cheques into high quality images very early on in the process. Our Cheque Truncation System is a web-based solution, which can be accessed by banks’ personnel from any machine in the bank’s network. The cheque image is truncated at the presenting bank and seamlessly moves through various steps in the cheque-clearing cycle. Leveraging Newgen’s advanced imaging capabilities and internationally acclaimed BPM platform, the solution enables better customer services and enhanced operational efficiency for banks by cutting down on the overheads involved in physical clearing. It also leads to better reconciliation and prevention of fraud.

Brochure: Cheque Truncation System

Reinvent cheque processing with elimination of paper cheques

Comprehensive Tracking & Monitoring
Real time process monitoring through a dashboard for removing bottlenecks. Comprehensive Reporting and Audit Trails for “Who-did-what-when”

Integrated Clearing
The solution provides integrated outward clearing (scanning and processing at presenting bank), inward clearing (processing central bank’s files at drawee bank), outward return and inward returns (handling processing of returned/bounced instruments)

Based on Open-Standard
Built on a J2EE-based open and platform-independent architecture, the solution is based on DOD & MoReq standards for records management. Further, it is based on ANSI standards, X9.37 and X9.90, for exchange of images and data and creation of image-replacement documents

Industry Accepted Security Standards
World-class encryption and cryptographic standards ensuring secure and reliable storage and transmission Support for smart cards, HSM cards Support for digital signatures for non-repudiation and legal validity

Scalability
Extendable to automate other processes in payments domain PDC management, ACH, RTGS, Warrants processing, Signature Management System

  • Centralized Archival of cheque images, corresponding data & audit trails with configurable search and retrieval options
  • Inbuilt service monitoring and extensive logging for faster issue resolution
  • Automated hand-offs between multiple systems with minimal manual intervention
  • Enhanced automation and standardization
  • Comprehensive audit trail maintenance
  • Smooth operations with real-time monitoring facility
  • Faster deployment and roll-out at branches
  • Standardized process with regular upgrades to avoid potential errors
  • Consistent environments for UAT and production for successful roll outs
  • Real-time process monitoring through a dashboard to remove bottlenecks

REINVENT BANKING

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REINVENT PAYMENTS

Cheque Truncation System - Newgen's Solution for National Automatic Clearing House (NACH)

Newgen's Solution for National Automatic Clearing House (NACH)

Leverage a modern, robust platform to handle large volumes of repetitive payments