Cheque Archival Solutions

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.

The Solution

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
  • Solved
Risk of discrepancies and losts
  • Solved
High processing costs
  • Solved
Delayed settlements
  • Solved

The Main Features
of Cheque Archival Solutions

micr-personalisation

Automated double verification—with MICR and OCR technologies

With MICR and OCR read sensors embedded in the scanner, SMARTCAPTURETM will be able to have dual control on processed cheques and remittance advices. This will speed up the whole document processing while reducing risk of financial losses.

Automatic Data Entry

Archival mode options

SMARTCAPTURETM  allows you to scan documents in any of the following combinations:

  • One remittance advice followed by one cheque
  • One remittance advice followed by multiple cheques
  • Multiple remittance advices followed by one cheque

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cheque-authentication

B/W, greyscale or colour image capture

SMARTCAPTURETM  captures, processes and stores data and images in whatever image setting at the scanner—B/W, greyscale or coloured images.

Image-Scanning

Fully automated image and data workflow

SMARTCAPTURETM  also gives you the option to have a completely automated image and data flow from scanning of cheques and remittance advices, document authentication, batching and balancing of transactions for further processing.

Cheque Endorsment

Basic to advanced search tool

With our basic to advanced search tool, you can easily retrieve data from your electronic document archive using:
Keyword / value search of serial number, bank information, payee details, transaction code or any of these combinations;

  • Range value search: equal to, lesser or greater than, or any of these combinations.
  • This tool will especially be useful when there is a need to verify suspected discrepancies at point of presentment.

data-exporttable

Exportable data

Data stored in SMARTCAPTURETM  database (archived data) can be exported into file format for further processing, or simply for backup purposes.

Image-Scanning

Compatible with a wide range of Check21 scanners—manual or auto feed

SMARTCAPTURETM  is compatible with a wide range of document or cheque reader scanners of Check21 standard. It can accommodate both manual feed and auto feed document scanning without customisation.

The Key Benefits
of Cheque Archival Solutions

fast-white

Simplify end-of-day settlement with point-of-presentment cheque processing

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Multipurpose encoding.

Increase customer satisfaction when deposit cut-off hours is extended

cheque-process

Reduces reject rates and risks of cheque fraud.

Speed up the handling and processing of cheques and remittance advice

readniness

Streamline entire operation when multiple handling is removed

readniness

Reduce unnecessary costs resulted from human error associated with manual intervention, maintenance of separate remittance advice and cheque inventories

readniness

Accelerated decision making with increased audit and disaster readiness

readniness

Anticipate any potential discrepancy and dispute at point of presentment

Need further discussion on the right solution for your business?

Our expert consultants are ready to help

Learn more about our solutions

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