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:
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Rejection rates still remain high due to poor technology applied in either MICR encoding or MICR reading.
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Cheque frauds are still difficult to detect due to poor technology applied in either cheque issuing or cheque clearing.
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Cheque processing is still costly due to the banks or financial institutions’ dependence on manual handling or traditional submission of cheque data.
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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:
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Reduce rejection rates
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Protect your business and customers from cheque frauds
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Minimise operational costs
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Enhance your corporate image