Overview - Fincraft^TM Cheque Truncation System

Payments and settlement process are critical in ensuring the efficiency of the financial infrastructure. Image-based Cheque Clearing System or Cheque Truncation System (CTS) is a project for faster clearing process in banks for cheque undertaken by Central banks of many countries. Nelito is one of the renowned cheque truncation services providers, with a great client portfolio inclusive of major public sector, private sector and co-operative banks and is fully compliant with Central Bank's (like RBI in India) cheque truncation guidelines.

With the implementation of grid-based Cheque Truncation System, cheque clearing process in general has gained speed and operational efficiency in addition to other benefits such as business process re-engineering, cost effectiveness, better service and adoption of cutting-edge technology. With more than 2 decades of experience in building and managing image-based cheque truncation software for financial institutions across the world, Nelito has emerged as a partner of choice for many banks in India and globally.

FinCraft^TM Cheque truncation system prevents fraud and helps in reconciliation with higher operational efficiency.

FinCraft^TM Cheque Truncation Solution is a web-based solution having capabilities of imaging cheques to reduce time taken for clearing of cheques. It converts physical cheque into high dimension images so as to make it easy for the clearing house to eliminate the cumbersome process of physical presentation of cheques.

This process saves time as well as cost involved in traditional clearing process. Our solution is integrated with National Payment Systems Organizations (e.g National Payment of Corporation (NPCI) in India) as prescribed by the Clearing House Interface.

Key Features

Short and speedy clearing cycle
Integration with multiple geographical locations
Centralized and Distributed Deployment
High dimension images for better clarity
Pre-defined processes for outward and inward clearing
Integrated Image Quality Analysis as per Central Bank's guidelines
Enterprise Level Scalable Product, supports clustering and Disaster Recovery setups
Real time process monitoring through a dashboard for removing bottlenecks

Benefits

Fraud prevention
Restricted physical movements of cheque
Streamline cheque processing flow
Reduce cheque processing time and cost
Reduce the need for paper-based storage and retrieval
Minimise the potential of human error during manual handling

Customer Value

01

Multi Tenancy to support Sub - Members
02

Support for Ultraviolet (UV) image viewing
03

Supports scanning and processing with and without Deposit Slips
04

OCR checking for
MICR reads.
05

Compatible with wide range of cheque scanners, including flatbed scanners for CMS cheques processing
06

API and File based Integration with CBS; for data to CBS and data from CBS
07

Audit log for financial and non- financial transactions
08

Role based access
for security
09

Transaction based authentication

Business Models

Deployment

Supports Centralized and Distributed Deployment for processing
Distributed Deployment Architecture for scanning

Performance

Multi-threaded process for high performance
Benchmarked to perform up to 30,000 instruments per hour

Testimonials

"Bank has implemented CBS of Nelito Ltd in the year 2008-09 in phase manner. Also integrated RTGS/NEFT, CTS, MMS etc. which help us in smooth automation of banking operation."

K.T. Wadia ( CEO )The Sutex Co-op Bank Ltd

Our bank is using Fincraft, CBS of Nelito system since 2011. The application is functionally rich & user friendly and easy to navigate. The convenience of integrating other supporting applications of Nelito CTS, NEFT, RTGS, HO Module (share), Loan Origination, Internet Banking etc. helped us in smooth automation of various banking operations. We are very much thankful for providing such a good technology of coop banking sector and hope better performance in coming days. Wish You All the Best.

Gunvantbhai Shah (Vice Chairman)Mahudha Nagrik Sahakari Bank