A reliable cheque truncation solution for reducing the cheque clearing time for banks and improving customer service.
Organet' TrunCheck is available in two versions:

Cheque Deposit Solution
The Cheque Deposit Solution (CDS) is the basic version of TrunCheck application which functions in a self-service / kiosk mode. This version of the software caters for the cheque deposit and acknowledgement functions at the bank branch and is integrated with the specialized Cheque Deposit machine. The system allows the customer (i.e. drawee) to deposit single or multiple cheques for credit into his account maintained with the bank (i.e. presenting bank) into the Cheque Deposit machine. The system scans the drawer’s MICR data from the cheque and if it is a valid MICR, the account number of the drawer is captured. The normal clearing process takes place thereafter. The benefit to the customer depositing the cheque is that the system prints an acknowledgement instantly, showing an image of the cheque, drawer’s name and amount.

Cheque Truncation Solution
This is the enhanced version of TrunCheck software. This version also functions in a self-service / kiosk mode. The Cheque Truncation Solution (CTS) allows banks to improve customer service by reducing the time taken for clearing the cheques substantially. The operational efficiency of the banks also goes up significantly, as physical movement of cheques is not required. In addition, CTS also provides better reconciliation capability, thereby reducing the scope for frauds.

The cheque image is truncated at the presenting bank. Only the images of the cheques travel electronically from the presenting bank to the paying bank. The cheque images move through the various steps in the cheque-clearing cycle and transactions are settled on the basis of images and electronic data.

	Acceptance of deposit of single / multiple cheques.
	Capture of the image and digital signing on the captured image.
	Capture of the drawee account details and amount.
	Reading / scanning of the contents of the cheque.
	Analysis of the MICR data.
	Providing of the required confirmation or rejection message about the cheque status to the presenter (bad MICR, invalid format or size of the cheque, etc).

	Better customer service by giving an acknowledgement for deposit of cheque (image of the cheque in the acknowledgement slip eliminates the need for the presenter to take a photocopy of the cheque).
	Enables banks to reduce the time for clearing cheques drastically, leading to improved customer service. Maximum clearing can come down to just 1 hour.
	Increase in the operational efficiency by cutting down on overheads for physical dispatch of cheques.
	Facilitates better and quicker reconciliation of cheques.
	Reduces the scope for frauds possible in the existing system involving physical movement of cheques.