www.cloud.niit-tech.com

Cheque Truncation Services for Banking and Financial InstitutionsA completely outsourced model for all your cheque truncation requirements

Capable of interfacing with a variety of systems used in banks

Interface with various cheque scanners

Audit log of the application, and Audit and event log of the usersSupports secure web based hosting (SSL security certificate)

Ease of Implementation across GRID and MULTI-GRID

Cloud

Here are few of important factors as to why enterprises should

invest in CTS Easy:

• Migration to CTS is a regulatory mandate by RBI. RBI is

discontinuing traditional MICR-based cheque processing and

banks have to migrate to CTS services

• CTS speed up the cheque collection process; resulting in

improved customer service and elimination of float

• Reduces the scope for clearing-related frauds or loss of

instruments in transit, and lowers the cost of cheque collection

• Removes reconciliation-related and logistics-related problems.

CTS Easy SolutionNIIT Technologies offers end-to-end Cheque Truncation Services to

Co-operative Banks. Our offerings include:

• Available on completely outsourced model.

• Inward at Bank using CTS Application Software

• Interface with Banking Application

• Common Multi-bank CHI Gateway/Bank’s individual CHI

services

• Access archival and reports at bank through a web based solution

• Total Program management by NIIT Technologies

• Transaction based pricing model.

Industry OverviewPayments process is critical in ensuring the efficiency of the

financial infrastructure. The most visible and prominent

mode of payment used in India is a cheque. Cheque

processing takes a lot of time and has raised the need to

revamp banking operations.

Financial institutions use cheque truncation process to

reduce the time taken to clear cheques. Truncation is the

process of stopping the physical movement of the cheque

issued by a drawer to the drawee branch. The physical

instrument will be truncated at some point en-route to the

drawee branch and an electronic image of the cheque is

sent along with relevant information like Magnetic ink

character recognition (MICR) fields, date of presentation,

presenting banks etc. Thus, with the implementation of

cheque truncation service, the need to move the physical

instruments across branches is no longer required, except

in exceptional circumstances. The cheque truncation

service effectively reduces the time required for payment of

cheques, the associated cost of transit and the delay in

processing, thus speeding up the process of collection or

realization of the cheques.

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A leading IT solutions organization | 21 locations and 16 countries | 8000 professionals | Level 5 of SEI-CMMi, ver1.2 ISO 27001 certified | Level 5 of People CMM Framework

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Partner with NIIT Technologies to align your IT goals with your business objectives

Write to us at marketing@niit-tech.com www.niit-tech.com

NIIT Technologies Ltd.Corporate Heights (Tapasya)Plot No. 5, EFGH, Sector 126Noida-Greater Noida ExpresswayNoida – 201301, U.P., IndiaPh: + 91 120 7119100Fax: + 91 120 7119150

NIIT Technologies Inc.,1050 Crown Pointe Parkway5th Floor, Atlanta, GA 30338, USAPh: +1 770 551 9494Toll Free: +1 888 454 NIITFax: +1 770 551 9229

NIIT Technologies Limited2nd Floor, 47 Mark LaneLondon - EC3R 7QQ, U.K.Ph: +44 20 70020700Fax: +44 20 70020701

NIIT Technologies Pte. Limited31 Kaki Bukit Road 3#05-13 TechlinkSingapore 417818Ph: +65 68488300Fax: +65 68488322

Key Features• Web based modular solution

• Capable of interfacing with a variety of systems used in banks

• Digital signature through a web based interface in the

banks privacy

• Configurable and customizable solution

• Ease of Implementation across GRID and MULTI-GRID

• Strong user management console

• Compliance to industry standard security policies

• Supports secure web based hosting (SSL security

certificate)

• Audit log of the application, and Audit and event log of

the users

• Interface with various cheque scanners.

Business BenefitsNIIT Technologies’ CTS Easy solution helps clients save time

and cost, and focus on developing organizational strategies.

Here’s a look at some of the benefits it offers:

• Faster clearing cycle

• Better reconciliation/verification process

ATM Cloud model

• Better customer service

• Enhanced customer window

• Elimination of float - Incentive to shift to credit push

payments

• Operational efficiency will help boost the bottom line of

the bank

• Minimizes transaction costs

• Reduces operational risk by securing the transmission route.

Why NIIT Tech CTS Easy?• Available on completely outsourced model

• Supports RBI compliant scanning, data formats and security

• No Capital Expenditure (Capex) incurred by the bank

• Provides easy interface with banking systems

• Industry Security Policies Compliant

• Interface available with various Cheque scanners

• Web based modular, configurable and customizable solution.