NIFT has always been striving to improve upon the facilitations related with Cheque Clearing and their security aspects. As we are approaching Cheque Truncation, the cheque security considerations have gained added importance.
Cheque Imaging: This initiative is to provide facilitation for preparation of outward clearing in conjunction with a powerful verification of UV image on the instrument, and displaying alterations or changing the contents of the cheque employing various contraptions. NIFT will port the UV image along with the front and back image to the paying bank for scrutiny. NIFT will upload these images to its portal for selective scrutiny at paying branch/hub/bank.
By deploying this technology, the bank/branch can do away with the deposit slip since the technology will be able to print the receipt along with image of the cheque for the customer.
Same technology can be used in the branch by teller for cash cheques.
Cheque Writing System: NIFT offers a secure cheque writing systems to banks for printing banker’s cheques etc. The printing system encrypts 2D barcodes on the cheques. These barcodes will facilitate verification of encrypted content at paying banks, ensuring full protection against tampering. The details are given in the attached write up. Bank can propose this system to their corporate clients.
This is a composite package and would be offered as a bundled system of hardware cum software solution, which is concise and integrated with the main clearing system.
We can establish pilot systems for above facilitations at the desired locations. Our support will be available at the branch level.
Please note that offered technology is available both on outright sale model with full support or on rental basis. Also, quantity discounts are available.