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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.
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Newgen Solution
Suite for Image-based Cheque Processing
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The solution suite consists of following components.
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Software Component
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Description |
Architecture |
| ChequeFlow |
For handling Head Office/high volume branches Outward and inward Clearing |
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Client/Server-based multi-user system, with rights-based access management, built on Newgen’s BPM Platform. Suited for large volume branches as well as central branch. |
| ChequeFlow Lite |
For handling branch Outward and Inward processing. |
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Workstation-based system suited for low-volume branches. |
| Cheque Exchange |
For Image Sorting and settlement at the Central bank. |
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Client/Server-based multi- user system. This is a rule- based sorting and settlement switch, built on Newgen’s BPM platform. |
| OmniTransport |
Upload/Download interfaces for the branches and head office. This is required when the branches want to communicate with the head office on a secure network. |
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The transmission is performed on a secure network over SSL, with industry-standard encryption. |
| OmniDocs |
Cheque archival and retrieval system for storage of images and data at a central location, with capability to deploy remote image servers at multiple locations for faster image access. |
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Client/Server-based multi- user system. Comes with out-of-box integration with ChequeFlow and ChequeExchange. |
| Records Management System |
Available as an add-on component to OmniDocs for managing complete lifecycle of physical and electronic documents as per the Records Management policies laid down by the organization and those required by law. |
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The
solution suite has been developed on the strong backbone of Newgen
Imaging and Workflow solutions i.e. |
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- 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
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| 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
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