Check Clearing Solution
Solution
Check clearing or bank clearance is the process of moving cash (or its equivalent) from the bank on which a check is drawn to the bank in which it was deposited, usually accompanied by the movement of the cheque to the paying bank, either in the traditional physical paper form or digitally under a Check truncation system. This process is called the clearing cycle and normally results in a credit to the account at the bank of deposit, and an equivalent debit to the account at the bank on which it was drawn, with a corresponding adjustment of accounts of the banks themselves. If there are not enough funds in the account when the cheque arrived at the issuing bank, the cheque would be returned as a dishonoured cheque marked as non-sufficient funds.
The strength of the solution offered is mainly in the flexibility of the equipment to adapt to the growth of the volume to be processed, the ease of adapting the applications to new market requirements and the addition of new process modules to the Lecto-equipment. classification, since it is made up of widely experienced components in the banking industry.
The Check Clearing solution allows the Bank to choose a MODULAR approach so choosing the Modules needed for their task:
- Check capture with front and back images.
- Data Entry of amounts.
- Batch closing and balancing.
- A.B.M. of lots and users.
- Post-Magnetized Parameterizable Listings.
- Collection values / inter-branch / inter-zone.
- Nacha and Host interfaces of the Bank.
- C.D recording for consultations.
- Classification.
- Administration and consultation of images.
- Basic administration of the Customer ID or Company.
- Entry of Customer ID or Company..
- Check against Negative Base.
- Entry and generation of the negative query.
- Rejected Truncated by Image.
- Truncated Administration Check checks online.
Hardware Used in the Solution
The Solution can include Existing HW that the Bank might currently have installed or new HW to add, this can be defined after an innitial consultation with the Bank or Financial institution, some of the HW Items used in the solution include:
Multifunctional Printers with
Incorporated
Check Reading and Scanning
Kiosk OEM Modules which
Read and Scan Checks
Multiple Checks Desktop
Scanners with Branding
Self Service Kiosks with
Check Reading
and Scanning
Check Clearing Process
Day in the Life of a Cheque This Video is from 1995 and is used to show the Old ways of Check Processing which in some countries is still Todays way.
Follow a check from deposit to it's return with the statement as it makes it's way through the processing center in this 1995 Key Bank movie.
This has all changed now due to image processing. The checks are scanned at the branch and only images are sent and processed.
Credit Youtube: SisterMoon