Articles

Cheque Solutions

With Sybrin's independency on type of transport manufacture, host banking system, and database, it can operate effectively in the environment suited to the client's needs, and processing can happen at the teller, back-office or central processing centre. The trend is towards "Truncation" – the clearing on the image of the cheque as opposed to the physical cheque – and Sybrin's experience in this department is extensive, with some of the biggest banks in Kenya, for example, using Sybrin for this. Whilst Sybrin is certainly at the forefront in its Day1 offering, with an advanced reconciliation module to match Electronic Journal MICR data with those read off the cheque, and leading technology OCR, LAR and CAR offerings, it really does set itself apart with its Day2 Modules listed below:

• Host System Validation (depending on Host System, can and should be run on Day1)
  • Account validation (existent, modulus checks, dormant, closed, restrictions)
  • Stopped and suspect stopped cheques
  • Serial numbers (range as per cheques books, out of sequence, etc)
  • Insufficient funds
• Fating module – allows all cheques on an overdrawn account to be processed as a batch in a customer liquidity screen where the customer can be phoned whose input can decide what gets paid or unpaid.
• Technical Verification – Signatures & Mandates, Drawer Name confirmation, Amount in words & figures, Dates, stamps, etc.
• Positive Pay – quick verification for numerous cheques drawn on same account (e.g. dividend runs)
• Manager Cheque reconciliation
• Automated and parameterised charges