Cheque Clearing Solution

Image-based cheque clearing system or Cheque Truncation System (CTS) is a project undertaken by Central banks of many countries such as India (Reserve Bank of India ? RBI), UAE (Central bank), Saudi Arabia (Saudi Arabia Monitoring Agency ? SAMA) etc. for faster clearing of cheques.

CTS promises to bring multiple benefits to customers by substantially reducing the time taken to clear the cheques as well as to the banks by enabling them to offer better customer services and increasing operational efficiency by cutting down on overheads in physical clearing. In addition, CTS also offers better reconciliation and fraud prevention. CTS uses cheque image, instead of the physical cheque itself, for clearing of the cheque. The cheque image is truncated at the presenting bank. Subsequently, the cheque image moves through various steps in the cheque-clearing cycle and transactions are settled on the basis of images and electronic data.

The solution suite has been developed on the strong backbone of Newgen Imaging and Workflow solutions i.e.

OmniFlow ? A versatile, rule-based workflow engine OmniDocs ? A strong and robust document management system Batch Scan ? A batch mode scanning application with MICR data display and Image quality analysis Imaging Libraries ? For image-quality analysis and verification

Representative List of Newgen Customers

HSBC, India ABN AMRO, India Bank of America, India ING Vysya, India Kotak Mahindra Bank, India Bank of Baroda, India Andhra Bank, India Indian Bank, India United Bank of India, India Karnataka Bank, India Abu Dhabi Commercial Bank, UAE RAKBANK, UAE