Cheque Truncation System (CTS)

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

Benefits

Streamline cheque processing flow
Streamline cheque processing flow
Streamline cheque processing flow
Reduce cheque processing time
Streamline cheque processing flow
Minimise cheque processing cost
Streamline cheque processing flow
Eliminate the need for transportation and courier for delivery of physical documents
Streamline cheque processing flow
Reduce the need for paper-based storage and retrieval
Streamline cheque processing flow
Produce business intelligence tools for payment pattern monitoring
Streamline cheque processing flow
Protect customers from cheque fraud with image-based verifications apart from electronic data
Streamline cheque processing flow
Improve customer service with effective reconciliation and verifications processes
Streamline cheque processing flow
Minimise the potential of human error during manual handling
Streamline cheque processing flow
Increase time of customer window for cheque deposit
For more information about Cheque & MICR Solutions
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At Business Smart Solutions Pty Ltd (BSS), we have been helping businesses introduce smarter, cost-effective and best-of-breed IT solutions that radically improve business performance.

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