Cheques are used all over the world in large quantities, and even though the future of payment systems seems to indicate a move towards a cashless society, the prominent role of cheques as a voucher-based payment system is undeniable.
Traditionally cheque processing is a very manual and labour-intensive process, requiring complex logistics and a lot of man-power to move the vouchers through the system and manually clear them at a country’s clearing houses. Fortunately modern cheque clearing techniques can eliminate paper from the system altogether – a process which is referred to as Truncation.
Sybrin supports all three modern cheque processing and clearing methodologies – Full Truncation, Semi-Truncation and Centralised Processing.
Centralised Processing is a technique allowing banks to capture the physical cheques at a central location, reducing the overheads of bulk data capture.
The concept of centralised processing involves moving the bulk of the processing to a dedicated processing facility (either off-site or at the headquarters of the bank), allowing the branches to function at a much higher capacity without the burden of physical cheque processing. After capturing at the branches, cheques are couriered to the HQ where processing is done. The cheques, as well as electronic files, are sent to the Clearing House for exchange and settlement with other local banks.
Sybrin’s image-based Centralised Cheque Solution is a proven, robust and flexible software solution for high-speed document imaging and transaction processing applications. Sybrin incorporates all the essential components of a transaction processing system including data capture, image capture, image recognition, record validation, data entry, correction, verification, balancing, document sorting, reporting, data extraction, and data transmission.
Encompassing a wide range of state-of-the-art recognition and imaging technologies, the solution enables faster data capture and transaction processing, reduced keying labour, increased productivity, enhanced work quality and increased confidence levels in the integrity of the processed transactions. Sybrin improves efficiency and reduces the cost-per-item-processed. The resultant image-based archive and query system provides a platform for other image-based value added services.
Sybrin differentiates itself from its competition in that it allows the customer to choose their hardware. Its capture solution is transport-independent, supporting all makes of transport and scanners, including Unisys, NCR, Seac Banche, TellerScan, Fuji, Panini and Buic to mention a few. New installations benefit from being given a choice of several suppliers, depending on considerations such as features required, volumes processed, price, or availability of local support.