CHECK TRUNCATION SYSTEM - Newgen Software Website files/Brochures... · Image-based Check Clearing...
Transcript of CHECK TRUNCATION SYSTEM - Newgen Software Website files/Brochures... · Image-based Check Clearing...
CHECK
TRUNCATION
SYSTEM Image-Based Check Clearing System
SOLUTIONS FOR BUSINESS PROCESS & CONTENT MANAGEMENT
SO
LU
TIO
NS
FO
R B
US
INE
SS
PR
OC
ES
S &
CO
NT
EN
T M
AN
AG
EM
EN
TIntroduction
Image-based Check Clearing-An Overview
Payments and settlement process is critical in ensuring the efficiency of the financial infrastructure. This helps in promoting financial sector development, improving the effectiveness of the monetary policy, and reducing the country's risk profile.
Paper checks are undergoing a sweeping change in the way they are processed, cleared, and settled. Check Imaging and truncation (the replacement of the paper check by a check image and an electronic data file) is bringing about this change. The most critical of these changes is point-of-entry capture, that is, the capture of the check image as far upstream in the process as possible. Check processing affects all customers of the bank, and is causing a complete revamp of many banking operations.
Image-based Check Clearing System or Check Truncation System (CTS) is a project for faster clearing of checks undertaken by Central banks of many countries such as India’s Reserve Bank of India (RBI), UAE’s Central bank, Saudi Arabia’s Saudi Arabia Monitoring Agency (SAMA), etc
CTS promises to bring multiple benefits to customers by substantially reducingthe time taken to clear the checks. For banks, CTS enables better customer
services and increase in operational efficiency by cutting down on overheads in
physical clearing. In addition, CTS also offers better reconciliation and fraud
prevention.
CTS uses check image, instead of the physical check itself, for clearing of the
check. The check image is truncated at the presenting bank. Subsequently, the
check image moves through various steps in the check-clearing cycle, and
transactions are settled on the basis of images and electronic data.
‘Following software-centric approach as opposed to hardware-
centric approach, Newgen CTS is build around state-of-the-art
Imaging, Document Management and Workflow technologies,
which integrate seamlessly in an enterprise-wide framework.’
Balancing and Verifying
Verify Reject Checks
?
?
?
?
?
?
?
?
?
?
?
Various core banking systems (including FLEXCUBE and Finacle) /third party
applications including middleware and message queues
Existing clearing systems of banks
Automatic signature verification systems
Based on Open Standards
Industry accepted security standards
Monitoring and tracking
J2EE-based open and platform-independent architecture
DOD & MoReq standards for records management
ANSI standards, X9.37 and X9.90, for exchange of images and data and
creation of image-replacement documents
World-class encryption and cryptographic standards ensuring secure and
reliable storage and transmission
Support for smart cards, HSM cards
Support for digital signatures for non-repudiation and legal validity
Real time process monitoring through a dashboard for removing bottle-
necks
Comprehensive Reporting and Audit Trails for “Who-did-what-when”
The solution suite has been developed on the strong backbone of Newgen
Imaging, Document Management and Workflow platform, comprising:
A versatile rule based workflow engineA strong and robust document management system A batch mode scanning application with MICR data display and
image quality analysisImage quality analysis and verification
Newgen’s CTS manages the processes of check or other instruments’ clearing
cycle by using Imaging and Workflow technologies that includes:
? OmniFlow: ? OmniDocs:? Batch Scan:
? Imaging Libraries:
Solution Highlights
Rich Implementation Experience:
?Integrated outward clearing (scanning and processing at presenting bank), inward clearing (processing central bank's files at drawee bank), outward return and inward returns (handling processing of returned/bounced instruments)
?Web based access at client locations, no installation on client machines for
patches or upgrades
?Client-server architecture, supporting multiple deployment models
centralized/decentralized at presenting and drawee banks
?Integrated solution for on-the-move relationship managers via web referral
processing
?Integrated Image Quality Analysis as per Central Bank's guidelines as an
Automated Activity
?Built-in Centralized Archival of Check Images, Corresponding Data & Audit
Trails with configurable search and retrieval options
?Extendable to automate other processes in payments domain PDC
management, ACH, RTGS, Warrants processing, Signature Management
System
?Extendable to Newgen's proprietary ICR/OCR engine for auto-extraction,
matching of amount in figures and in words, and Automatic Signature
Verification
?Enterprise Level Scalable Product, supports clustering and Disaster Recovery
setups
?Newgen’s CTS is being used successfully across various continents spanning
Indian Sub-continent, Middle East, Africa and SEA regions
?45+ banks acquired in the last 5 years for image based check clearing
applications, including SABB, ADCB, RAK Bank, Mashreq Bank, Standard
Chartered Bank, Ghana Commercial Bank, Imperial Bank Kenya, Kotak
Bank India, HSBC India, East West Bank Philippines, etc as an illustrative list
Newgen Solution Suite for Image-Based Check Clearing
Platform Independent
BPM EngineDMS/RMS Imaging Libraries
Scanners Components IntegrationService
PaniniVision X Series
Digital CheckTS-220 & TS-350
CTSLS-515 & LS-800
UnisysNDP-60
CheckFlow
Check Exchange
Omni Transport
Signature Management System
Scanning System
Web Referrals
CanonCR - 190 & CR-55
Internet Banking/e-mail/SMS Portal
Automatic Signature Verification System
Check Deposit Kiosk
Cash ManagementSystem
CBS/TBA/PBA
Fraud ManagementSystem
Warrants &Drafts Processing
InwardClearing
PDCsProcessing
OutwardClearing
CashManagement
Process
Other Value-adds
The solution is easily extendable to related needs like:
/ Post Dated Check processing
/ Web-based referral system
/ Interest & Dividend warrants processing
/ Signature Maintenance systems
/ Cash Management
/ Credit Card Processes/ Customer care (along with interface to call centers)/ Clearing Processes
8E - Check8Interest & Dividend Warrants8Demand Drafts processing8Cash Management
/ Centralization of Retails Assets, Retail Liability / Centralizations of Loans Process
6Personal Loans6SME Credits6Mortgage loans6Corporate credits6Microfinance
Banking & BPM - where it can be used
?Localization and support of multiple languages including Arabic
?Inbuilt service monitoring and extensive logging for faster issue resolution
?Faster deployment and rollout at branches
?Standardized process with regular upgrades to avoid potential errors
?Consistent environments for UAT and Production for successful roll outs
?
?
?
?
Integration Capability with:
ATMs
Check Deposit kiosks to provide multi-point capture capability
Seamless integration through APIs and/or hand-off file generation
Hardware and Platform Independent, support for multiple Check Scanners, Application and
Database servers
Monitoring and Tracking
Components of the Solution Suite Newgen Check Truncation
System (CTS) is an end-to-
end solution for image-based,
Inward/Outward electronic
check clearing, built on top o f
B u s i n e s s P r o c e s s
Management (BPM) platform.
Leveraging the BPM platform,
banks can easi ly make
changes to the existing
process flow and also process
instruments other than
checks such as Printed Drafts
and Interest & Dividend
Warrants.
CTS efficiently manages and
speeds up the entire clearing
and settlement cycle by using
rich image-capture capability,
fast and secure check image
transfer, scalable archival and
r e t r i e v a l s y s t e m , a n d
comprehens i ve record
management.
Tai lored CTS solut ions
prov ide banks greater
f lex ib i l i ty, unpara l le led
productivity, shortened.
cycles, drastic reduction in
processing costs, and near-
elimination of check fraud.
CTS easily integrates with
existing core banking systems
and a wide make of hardware,
and facil itates seamless
exchange of information.
CheckFlowFor handling Outward/Inward clearing & return processing at Head Office/branches
ArchitectureWeb based client –server based multiuser system with rights-based access management, built on Newgen's BPM platform
Web Referral SystemTo enable on the move branch relationship managers to access and process the images and associated data of referred instruments over web
ArchitectureWeb-based client-server based multi-user system. Comes with out-of-box
integration with CheckFlow
CheckExchangeRule-based sorting and settlement switch for Clearing Houses/Central Banks
ArchitectureClient-Server based multi-user system with rights-based access management, built
on Newgen’s BPM Platform
OmniTransportUpload/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.
ArchitectureCommunication done on a secure network over SSL with industry standard Encryption
Signature Management SystemTo capture, store and retrieve the signature and mandate information of different accounts
ArchitectureClient-Server based multi-user system, with rights-based access management and
rule definition
OmniDocs & Record Management Sytem (RMS)
ArchitectureClient-Server based multi-user system. Comes with out-of-box integration with
CheckFlow and CheckExchange
Check archival and retrieval system for storage of images and data at a central location, with capability to deploy remote image servers at multiple locations for faster image access.
RMS is available as an add-on component for managing complete lifecycle of
physical and electronic documents as per bank’s policies
Newgen's Other Solutions for Banks and Financial Institutions
TMDraftFlow : Image-Based Draft Processing Solution
TMOmniReports : Report Management System
WorkFlow Management Solution
Newgen ProductsTMOmniFlow : TMOmniDocs : TMOmniScan :
Imaging libraries:
Newgen DraftFlow provides a versatile and scalable solution for faster and efficient clearing of drafts. It is an end-to-end solution for validating against core databases and raising exceptions to efficiently process the drafts in the stipulated time. It offers the following features and benefits:! Complete extraction of draft data, including cross-checking the information! Cross-checking with back-end draft system for duplicate and expired drafts! Integration with authorized signatures! Streamlines operations to reduce manual overheads! Reduces frauds
OmniReports provides reports archival, distribution and publishing for large distributed banks. It compresses electronic reports – generated in different systems such as Core Banking, Cash Management, Loans, Trade, ATM, etc. – to as much as 1/13th of their original size and stores them in searchable form. OmniReports, integrated with core banking system, offers following benefits:! Reduces load on the Core Banking system! Slashes printing costs as reports can be instantly searched and viewed online! Allows access to previous reports even after transactions are removed! Publishes account statements on the Web for self-service customersBanks that have Total Brach Automation (TBA) and are shifting to Core Banking can import and store all previous reports, including audit trails, from TBA system at branches into OmniReports
Newgen has implemented image-based workflow solutions for many banks. These solutions include Loan Processing Systems, Credit Appraisal Systems, and LC and Trade Bills Processing Systems Documents are scanned at branches and introduced into the workflow. The electronic documents moves through various worksteps, where users can take decision, mark exceptions, and approve the documents. The workflow enables collaborative working among branches and zonal and central offices. Using these solutions, banks obtain following benefits:! Centralize processing! Reduce time of transaction! Optimize employee productivity
A versatile rule-based workflow systemAdvance document management solutionPowerful data capture and indexing tool
MICR extraction, endorsements, and watermarking
Why Newgen
Core Competence in ImagingNewgen has more than fifteen years of experience in Imaging. Newgen has developed a rich set of imaging libraries for image transformation, compression andenhancement.
IPR OwnershipSince the IPR ownership of the complete solution offered (up to the engine level) is with Newgen, it offers the banks easy maintenance and customizations. The future developments on the solution would be easy to integrate and manage. The India Advantage With over 600 Software Engineers based out of its R&D and Product Development centers in New Delhi and Chennai, Newgen is uniquely positioned to cater to even the most complex and focused needs of the banks in minimal time frames and at low support costs.
Rich ExperienceNewgen is the leading solution provider of Imaging-based Document Management and BPM solutions for a wide range of national and international clients across various industries.
Representative list of customersHSBC Bank, Deutsche Bank, Hua Nan Bank, ABN Amro Bank, ICICI Bank, IDBI Bank, State Bank Of India, ING Vysya Bank, CitiFinancial, RAK Bank, Bank of Tanzania, Max New York Life, Bajaj Allianz., Unilever, Philips, GE Countrywide, EXL, Satyam Nipuna, iGATE, Core 3, Ranbaxy, GSL, Kenyan Airways and SEC Phillipines.
www.newgensoft.com
© Copyright 2010-2011 Newgen Software Technologies Limited. All rights reserved.
Newgen Software Technologies Limited is the market leader in
Business Process Management (BPM) and Enterprise Content
Management (ECM), with a global footprint of over 800 installations
in about 40 countries. More than 100 of these implementations are
large, mission-critical solutions deployed at the world's leading
BFSI, BPO and Fortune Global 500 companies.
Newgen Software has been positioned in the Magic Quadrant for
Enterprise Content Management (ECM), 2009. The company has
been recognized by distinguished analyst firms like Frost and
Sullivan as a 'Hot Company to Watch for' in their global ECM Market
report, 2009 and by IDC in its exclusive report “Newgen Software:
Global Leader in Business Process Management and Document
Management Solutions”. Newgen has won prestigious awards such
as CNBC-TV18 - “Emerging India Award 2008”.
With HSBC and SAP investment, Newgen is one of the rare product
companies to have the backing of both leading financial and
technology companies of the world. Newgen’s Quality Systems are
certified against ISO 9001:2008 and Information Security Standard,
ISO 27001:2005. Newgen has been assessed at CMMI Level3.
New Delhi:
Mumbai:
Bangalore:
Chennai:
Hyderabad:
Kolkata:
E-44/13, Okhla Industrial Area Phase II
New Delhi - 110 020
Tel: +91-11-4653 3200, 2638 4060, 2638 4146
Telefax: +91-11-2638 3963
Email: [email protected]
B- Pitruchhaya, Paralkar Marg,
Off - Ranade Road, Shivaji Park,
Dadar - West, Mumbai - 400 028
Telefax: +91-22-2444 6588-89
Email: [email protected]
FF-2, Alpine Arch, 10 Langford Road
Bangalore - 560 025
Tel: +91-80-2223 7765, 2227 3614
Telefax: +91-80-2229 1615
Email: [email protected]
Ground Floor, Quanta ZEN
38, Dr. Thomas Road, Off. South Boag Road
T. Nagar, Chennai – 600 017
Tel: +91-44-4356 0890, 91
Fax: +91-44-4356 0892
Email: [email protected]
304/2, 3rd Floor, Block-I, White House
6-3-1192/1/1, Kundan Bagh
Begumpet, Hyderabad - 500 016
Tel: +91-40-4456 5656, 2341 6857
Fax: +91-40-4456 5666
Email: [email protected]
Punarnava Complex , Room No. 505, 5th Floor
13, B.B Ganguly Street, Kolkata-700012
Tel: +91-33-65340498
Telefax: +91-33-40037770
E-mail: [email protected]
Newgen Software Technologies Ltd.
US:
UK:
UAE:
A-6, Satsang Vihar Marg, Qutab Institutional Area,
New Delhi - 110 067 INDIA
Tel: +91-11-4077 0100, 2696 3571, 2696 4733
Fax: +91-11-2685 6936
Email: [email protected]
Newgen Software Inc.
1364 Beverly Road, Suite 300
McLean, VA 22101
Tel: +1-703-439-0703
Email: [email protected]
Newgen Software Technologies Ltd.
68 Lombard Street, London EC3V, 9LJ
Tel: +44-207-868 1736
Mobile: +44-78154 96669
Email: [email protected]
Newgen Software Technologies Ltd
YI 46, PO Box 120586
Sharjah Airport International Free Zone
Sharjah, United Arab Emirates (UAE)
Email: [email protected]