End to End Cheque Processing Solution

Cheque processing is a business process that persists to involve various complex issues. Just to outline a few:

  • Rejection rates still remain high due to poor technology applied in either MICR encoding or MICR reading.
  • Cheque frauds are still difficult to detect due to poor technology applied in either cheque issuing or cheque clearing.
  • Cheque processing is still costly due to the banks or financial institutions’ dependence on manual handling or traditional submission of cheque data.
  • Banks and financial institutions still often fail to meet the window time due to ineffective and time-consuming cheque processing flow

Considering this complexity, BSS presents to you the Cheque Truncation System, an end-to-end cheque processing solution that streamlines your business process to:

  • Reduce rejection rates
  • Protect your business and customers from cheque frauds
  • Minimise operational costs
  • Enhance your corporate image

The Key Benefits
of Cheque Truncation System (CTS)

effective

Streamline cheque processing flow

Minimize

Reduce cheque processing time

cost-efficient

Minimise cheque processing cost

Eliminate the need for transportation and courier for delivery of physical documents

Eliminate the need for transportation and courier for delivery of physical documents

fast-white

Reduce the need for paper-based storage and retrieval

transaction-data

Produce business intelligence tools for payment pattern monitoring

secure_white

Protect customers from cheque fraud with image-based verifications apart from electronic data

Improve customer service with effective reconciliation and verifications processes

Improve customer service with effective reconciliation and verifications processes

human eror

Minimise the potential of human error during manual handling

performance

Increase time of customer window for cheque deposit

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