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Cheque Image Processing

Cheque Image Processing . Technology Outsourcing Opportunity. VSoft Corporation Overview. Incorporated in 1996.

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Cheque Image Processing

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  1. Cheque Image Processing Technology Outsourcing Opportunity

  2. VSoft Corporation Overview Incorporated in 1996 We are a financial marketplace solution provider specializing in information systems. Our strength is developing, implementing, and supporting state of the art software solutions for the financial services industry. • Products • End-to-end Cheque Truncation Solutions • Core Banking Software • Document Imaging • Financial Inclusion Solution Offices Atlanta, USA Hyderabad, India Manilla, Philippines

  3. Customers * Approximate volumes per day

  4. What are banks doing in India? Business plans • Increasing Geographic presence • Increasing Service Window times • Getting ready for Cheque truncation by region Financial plans • Reduce operating expense • Increase Revenue • Improve Customer Service • Increase Cross Selling touch points Slide 4

  5. Cheque is here to stay Reduction in Volume • EFT • RTGS • Debit Card • Credit Card Increase Cost of Processing Slide 5

  6. VSoft Solution • Totally Outsourced Model • Hardware • Infrastructure • Software • Resources • What is different? • Technology • Costs • Total Responsibility Slide 6

  7. Cheque Imaging Workflow Branch / Hub Batch Logging Image Capture • Image Capture • Log Batches from Branch • Capture Batch Ticket • Capture MICR Line • Capture Front and Back Images as per RBI guidelines • Endorsement Images as per RBI guidelines • Unique Sequence Number By Branch / Scanner • Flow mode Capture Slide 7

  8. Cheque Imaging Workflow Branch / Hub Batch Logging Image Capture Image Quality Management • Image Quality • Global Image Quality • Partial Image • Excessive Image Skew • Piggy Backed Image • Image Too Light or Too Dark • Image Contains Streaks and/or Bands • Below Minimum Image Size • Exceeds Maximum Image Size Slide 8

  9. Cheque Imaging Workflow Branch / Hub Batch Logging Image Capture Image Quality Management Image (Re) scan • Image Review • Image Review displays images of all items that have failed Image Quality check • Teller reviews images and optionally Re-Scans bad images Image Re-Scan • Selected Items are Re-Scanned for a better Image • System validates MICR to make sure the image replaces the right item Piggyback Partial Document Too Light Slide 9

  10. Cheque Imaging Workflow Branch / Hub Archive Batch Logging Image Capture Image Quality Management Image (Re) scan Reports • Local Archive • 5 day Storage • Backup in case of Lost Cheques • Same Day Availability of Images Slide 10

  11. Cheque Imaging Workflow Branch / Hub Archive Batch Logging Image Capture Image Quality Management Image (Re) scan Reports Secure File Transfer Protocol Image & Data • Secured Transmission • Status based Transmission • Files transmitted to central site in a variation of the X9.37 format • Transmission uses • Secured FTP Client • 128-bit Encrypted secured connection • Connection via Secure Sockets Layer [SSL] Slide 11

  12. ICR on MICR Cheque Imaging Workflow • MICR line of Rejects only • If the cheque was run upside down, IRIS rotates the cheque • If the cheque was run front side backwards, IRIS flips the cheque • Updates the Database with the corrected MICR • Writes audit trail • Saves the New Image Orientation. Branch / Hub Archive Batch Logging Image Capture Image Quality Management Image (Re) scan Reports Secure File Transfer Protocol Image & Data Operations Center DIGITAL DASHBOARD IRIS Slide 12

  13. Cheque Imaging Workflow Image Character Recognition • Courtesy Amount Read (CAR) • Legal Amount Read (LAR) • Payee Date • Payee Name • Depositor Account Number Branch / Hub Archive Batch Logging Image Capture Image Quality Management Image (Re) scan Reports Rear of Cheque Secure File Transfer Protocol Image & Data Operations Center DIGITAL DASHBOARD CAR/LAR/ Forms IRIS Slide 13

  14. Cheque Imaging Workflow Branch / Hub • High Speed Amount Entry • Key amounts – upwards of 2500 iph • Only 30% is manual • Image Reject Repair • Fix rejects as per sort pattern • Only 20% is Manual • Balancing • Next Out Of Balance transaction • Image Correction • Payee Name • Fix only unreadables • Only 10% is Manual Archive Batch Logging Image Capture Image Quality Management Image (Re) scan Reports Secure File Transfer Protocol Image & Data Operations Center DIGITAL DASHBOARD Reconcilement & Balancing Reject Repair CAR/LAR/ Forms IRIS Amount Entry Payee Name Slide 14

  15. eReceipt Reports Exceptions Status Cheque Imaging Workflow Branch / Hub • Real-Time Status of all Batches • Various Institution / Branch information • Transmissions statuses • Online On Demand • Operator productivity • Operator Audits • Scanner Statistics • Recognition Rates Archive Batch Logging Image Capture Image Quality Management Image (Re) scan Reports Secure File Transfer Protocol Image & Data Operations Center DIGITAL DASHBOARD Reconcilement & Balancing Reject Repair CAR/LAR/ Forms IRIS Amount Entry Payee Name Slide 15

  16. eReceipt Reports Exceptions Status Cheque Imaging Workflow Branch / Hub Notification • Central Site System sends an “e-Receipt” to the designated Branch email address • The “e-Receipt” details the total Deposit value and number of items • Sends an End-Of-Day total deposit summary receipt to the branch supervisor Archive Batch Logging Image Capture Image Quality Management Image (Re) scan Reports Secure File Transfer Protocol Image & Data Operations Center DIGITAL DASHBOARD Reconcilement & Balancing Reject Repair CAR/LAR/ Forms IRIS Amount Entry Payee Name Slide 16

  17. eReceipt Archive Reports Direct Exchange Host Application Exceptions Power Encode Status Reserve Bank of India Cheque Imaging Workflow Branch / Hub Archive Batch Logging Image Capture Image Quality Management Image (Re) scan Reports Secure File Transfer Protocol Image & Data Operations Center DIGITAL DASHBOARD Reconcilement & Balancing Reject Repair CAR/LAR/ Forms IRIS Amount Entry Payee Name Exchange Monitor Slide 17

  18. Technology Outsourcing Opportunity… Summary Environment Completely Automated Less Expensive Hardware Distributed Infrastructure Technology Image Based Cheque Truncation Ready Future Products Nationwide Archive Merchant Capture Benefits Lower Cost of Processing Faster Processing Greater Accuracy Higher Accountability

  19. Thank You!

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