Deposit and Cheque Processing Solution

The software uses MS SQL Server platform and cheque images are held as a binary TIFF files which is the format generally used by the banks.

The solution operates on industry standard PCs, one of which will be connected to the cheque sorter installed at the Operations Centre. The cashiers are provided with a scanner/reader through which they swipe the cheque and enter the amount and other related details depending on the banks front end system.

The Proposed Process

At the Branch
The process starts when the cashier at the branch, passes through the scanner/reader the cheques which are presented over the counter. The MICR of the cheque is read into the Cheque Processing System. The scanner/reader endorses the cheque, images the both sides of the cheque (front and back), and the cashier inserts the amount of the cheque in the screen provided by our system. In case of a deposit, the cashier will also insert the account number where the amounts of the cheques will be credited. The cheque is either accepted (saved) or rejected (discarded). Cheque data is saved into Cheque Processing System. Also accepts deposit cheque details.
The D & CPS database will be accessible from the branches and from the Operations Centre.
 
At Operation Centre
Every day, all the cheques are received from the branches at the Operations Centre. At the end of day, an end of day process is performed. Each batch of cheques needs to be re-processed (checked) at Operation Centre. Each cheque is rescanned and its MICR Line is verified against the information already entered from the branch, in the database. All exceptions (if any) are rectified. When each physical cheque is found to match a record found in the database then the batch is closed. Our CPS generates a file for each represented bank. These files are saved onto separate diskettes which are sent together with the physical cheques to the Central Bank.

Interfacing

Our software can be interfaced with the bank’s operational software to get the amounts of the cheques passed automatically to the system without the need for the cashier to insert the amounts again.

Our software also interfaces with the branch’s ATM.

The Solution is recommended for banks and large companies handling a lot of cheques on a daily basis.