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ChequeFlow is an image-based cheque-clearing system or Cheque Truncation System (CTS) that is currently being adopted by the central banks of many countries such as India (Reserve Bank of India – RBI), UAE (Central bank) and Saudi Arabia (Saudi Arabia Monitoring Agency – SAMA) for the faster clearing of cheques. ChequeFlow promises to bring multiple benefits to customers by substantially reducing the time taken to clear their cheques, as well as to the banks by enabling them to offer better customer services and increasing operational efficiency.
In addition, ChequeFlow also offers better reconciliation and fraud prevention as it uses a cheque image instead of the physical cheque itself, for clearing of the cheque. The cheque image is truncated at the presenting bank, subsequently, it is moved through various steps in the cheque-clearing cycle and transactions are settled on the basis of images and electronic data.
We offer the following Cheque Truncation Systems (CTS):
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Software Component
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Description
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Architecture
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ChequeFlow
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For handling Head Office/high volume branches (outward and inward clearing)
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Client/Server-based multi-user system with rights-based access management, built on our BPM Platform.
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ChequeFlow Lite
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For handling low-volume branches (outward and inward processing)
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Workstation-based system
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Cheque Exchange
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Upload/Download interfaces for the branches and Head Office. This is required when the branches want to communicate with the Head Office on a secure network.
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Client/Server-based multi- user system. This is a rule- based sorting and settlement switch, built on our BPM platform.
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OmniTransport
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Upload/Download interfaces for the branches and Head Office. This is required when the branches want to communicate with the Head Office on a secure network.
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The transmission is performed on a secure network over SSL, with industry-standard encryption.
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OmniDocs
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Cheque Archival and Retrieval System for storage of images and data at a central location, with the capability to deploy remote image servers at multiple locations for faster image access.
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Client/Server-based multi- user system. Comes with out-of-the-box integration with ChequeFlow and ChequeExchange.
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Records Management System
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Available as an add-on component to OmniDocs for managing complete life cycle of physical and electronic documents, as per the Records Management policies laid down by the organization and those required by law.
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