Newgen offers a complete automation of PDC (post dated cheques). The cheques are scanned into images which are verified as per the parameters mandated by the Central Bank. After the data entry, the cheques are stored with introduction date by the Tellers.
The Cheque Truncation System (CTS) by Newgen automatically introduces these cheques on the basis of introduction dates into the Outward Clearing process. The solution is fully compatible with both MICR and non-MICR cheques, and is able to handle exceptions such as request for cancellation/withdrawal of cheques and bounced cheques among several other exceptions encountered in the processing of PDCs.
The solution results in a streamlined PDC processing, better maintenance and management of cheques, and slashed costs.
