ECPS Cheque Trucation System
The ECPS system is the state of the art software package for Banks to handle their domestic and foreign currency image-based clearing operations.
The system works with any document reader that reads the cheques MICR encoding and scans the image.The Image and data, thus read are stored in its Database for further processing aand genration of settlement journals.
Its powerfull interfacing capabilities make it easy for intergrating with any banking system.The user may process the oimages of cheques- both inward-online by viewing the image, confirming the available balance in the account, specimen signatures and operations mandate.
Another notable feature is its capabilities to handle discrepancy,return of instruments and foolow up.In addition, it has all faetures necessary to handle EFT,direct debit/credit transaction that are normaly part of any Automated Clearing System.
Cheque Trunction support
Truncation of physical cheques and their replacement with images wastage eleiminate wastage of time and improves,efficiency and cost-saving.
Other benefits include better reconciliation and fraud prevention.
Any scanner capable of scanning cheques in batches of 100or less and is fast enough to scan 45 cheques per minute, are acceptable to CTS.It can also store images of both sides of the cheque and endorse it,depending on the scanner’s capabilities.
A powerful image archival module enables storage of the cheques images for any number of years.The search faetures allow retrieval of any image in a matter of seconds irrespective of the age.