Cheque Archival Solutions
Challenges in Today’s Processing
of Cheque and Remittance Advices
Many organisations and institutions today still receive paper cheque and remittance advices in large numbers. These documents come from within their own organisations or from other institutions at metro, regional to rural offices.
Processing these documents is a tedious job and requires involvement of multiple parties, some are third parties. Such multi-layered involvement in remittance advice and cheque processing doesn’t only delay settlement, but it also increases the risk of human errors—leading to steep increase in operational costs.
Introducing SMARTCAPTURETM, a user friendly application designed to simplify and streamline processing and archival of cheques and remittance advices.
Using SMARTCAPTURETM, cheques and remittance advices can be scanned and read, not only for archival or record-keeping purposes but also for further processing.
Cheque data and images can be transmitted electronically, within and across institutions—intra- and interbank—reducing overheads in operations, transportations and physical storage spaces, and minimizing risks of discrepancies and losts during handling. Furthermore, electronic cheque data can be backed up and restored easily, thus giving you the flexibility to manage your data recovery centre.
|Tedious processing of paper cheque|| |
|Risk of discrepancies and losts|| |
|High processing costs|| |
|Delayed settlements|| |