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Cheque Truncation System

Cheque Truncation System (CTS) or Image-based Clearing System (ICS) 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 / ICS 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 / ICS also offers better reconciliation and fraud prevention. CTS / ICS uses the 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 process and transactions are settled on the basis of images and electronic data.

Newgen's Solution Suite for Image-based Clearing System (ICS) consists of following components:

Software Component
 Description Architecture
ChequeFlow For handling Head Office/high volume branches Outward and inward Clearing 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 Workstation-based system suited for low-volume branches
Cheque Exchange For Image Sorting and settlement at the Central bank 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 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 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  

The solution suite has been developed on the strong platform 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 using CTS:

  • 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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