eDesk Cheque Truncation Platform

VSoft is one of the largest outsourced cheque truncation services provider in the country, with a client portfolio inclusive of major public sector, private sector and co-operative banks. Fully compliant with RBI’s cheque truncation guidelines, VSoft’s platform BPO infrastructure for cheque processing, when fully utilized, is capable of processing over 15 lakh cheques a day. With the nation-wide implementation of grid-based Cheque Truncation System (CTS) by RBI/NPCI, cheque processing in general has gained speed and operational efficiency in addition to other benefits such as cost effectiveness, business process re-engineering, better service, adoption of latest technology. With over 19 years of experience in building and managing image-based cheque truncation software for financial institutions across the world, VSoft has emerged as a partner of choice for many banks in India. Today, more than 100 banks and financial institutions outsource their cheque truncation operations to VSoft. Some of our major customers include Syndicate Bank, Allahabad Bank, Indian Overseas Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank Ltd., Saraswat Bank, Orissa State Co-operative Bank etc. VSoft’s outsourced CTS service operates as an extension of your financial institution providing the power of a 24x7 full cheque processing center. Utilizing VSoft’s solutions and personnel, financial institutions can control costs and gain the flexibility to bring new products and services to market without large capital investment.

Substantial cost reduction associated with manpower management Decrease in costs with the adoption of a per-item fee Single source processing solutions, professionally maintained, upgraded, & supported Quality, timely, and efficient data processing Significantly reduced in-house technology resource requirements and costs Predictable monthly expenses

Intelligent Repairing of Images An automated system that enables repairing of items during the capture process using advanced character recognition technology. The images that get captured upside down or reverse are flipped and rotated to identify the MICR code line. The correct orientation of the image is stored for future processing.

Accurate Recognition of Cheque data An automated system that recognizes, interprets and analyses the cheque data that may be hand-written or in a printed format. This module reads the MICR code line, payee name, date, and account number that are located in different zones of the front and rear side of the cheque images. The system reads and compares numeric on the cheque and determines the correctness of the amounts in percentage.

Backup and Archiving of Data and Images Processed cheque images and data can be backed up before the end-of-day process. After the end-of-day process, the system transfers the current business day’s data to the archive database and thus removes the old data from the system. You can perform a search on the archived data, take a print of the data in bulk and upload images.

High Speed Amount Entry The application provides an interface that displays a set of two images in a sequential order which enables the user to enter amount by viewing the corresponding item image.

Efficient Image Repair Automated highlighting of failed MICR fields ensures quicker reject repair procedure. The solution also displays a reason why the item was rejected. The intuitive image manipulation tools improve accuracy and efficiency.

Foolproof Item Verification Our solution has sufficient check points for the item verification process to improve reliability. While verifying the item the user must assign a status to each of the item depending on whether the item was processed satisfactorily or not. If not processed satisfactorily, the user must assign a reason for such items. All items that are not processed satisfactorily are not processed further.

Fraud-In-Cheque This application automates the cheque verification process by reading the face of the cheque and digitally capturing all payment information. It then compares the captured information with critical files that you identify.

Hardware and Software Services Cheque truncation scanners and scanning software Clearing House Interface (CHI) Hardware and Software Data Centre and Disaster Recovery Centre set up CAR/LAR Software Automated File Transfer software (License)

Connectivity and Software Services CHI to Clearing House VSoft Data Centre to CHI Bank’s Data Centre to VSoft’s Data Centre Bank’s Data Centre to CHI

Professional Services Clearing House Interface Setup Disaster Recovery Services

Research of cheque images Configuration of Bank’s Branches, Roles, Privileges

Outward Clearing Services Collection and submission of physical

cheques at ISBs or service branches Scanning and uploading of Cheque

Truncation System (CTS) compliant cheque images to data center network

Running CAR/LAR engine for capturing amount data

Data entry of amount, payee name, account etc.

Repairing of rejects Balancing of amounts in a batch Verification of data

High Value Verification (Optional with parameterizable value setting)

Presentation of files to CHI Loading of CHI Response File Lading of CHI Acknowledgement File Archival of cheque images & data Generation of MIS Reports Generation of Extract File for CBS Loading of Inward Returns File (on T+1) Loading of Inward Returns MIS Reports

(on T+1) Generation of Inward Returns Extract for

CBS

Inward Clearing Services Loading of instruments received from NPCI Data entry of payer account number,

payee/depositor name Level 1 Technical Verification Level 2 Technical & Signature Verification High Value Verification (Optional with

parameterizable value setting) Level 3 Verification of the items rejected in

Level 2

Generation of Extract File for CBS Marking of Return items in VSoft’s System Loading of Returns File from CBS Presentation of Outward Returns File to

CHI Loading of CHI Response File Generation of MIS Reports

Training Services Remote-instructor led training Onsite-instructor led training Help content such as user guides, tutorial videos etc.

Support Services Remote Support Onsite Support

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