The conventional Cheque clearing process is a fairly time consuming procedure and it involves many manual processes and physical movement of the instruments. It not only increases the time of clearing, also exposed to higher level of risks and frauds as the instruments are moving in various points and through various persons. The gap between this cheque clearing process is 3 days. Automated Cheque Clearing System (ACCS) reduces this gap.
System takes the input of all the cheques, which are waiting to be cleared, through scanning the images of the cheques and the MICR (Magnetic Ink Character Recognition) Line. Bank’s Core Banking and Clearing Process verify all the inputted cheques for validation and risk marks. After verifications, all the details of those cheques will be synchronized with the Central Bank’s Cheque Clearing System which is known as the Bangladesh Automated Cheque Processing System (BACPS). BACPS will acknowledge which are honored and which are dishonored. After the acknowledgement, Central bank will balance the fund transfer exchange between the cheque drawer and drawee banks.
- No physical cheque movement, only the cheque image movement.
- Duel control system.
- Clearing Charge Realization.
- Management Information, Reports Generation.
- SMS service in Cheque Returns.
Platform: Java Web based Solution/J2EE, SQL Server DB.
Client: Standard Chartered Bank Bangladesh.