Digital Archival and Retrieval Solution for Deposited Cheques
As regulated by the Government, banks and financial institutions are required to maintain legible copies of deposited cheques for at least 10 years. This is to provide proof of transactions for dispute settlement in case of damaged, misplaced, stolen or lost cheque.
Currently, despite today’s advanced technology, majority of banks still depend on manual cheque archival, in the form paper copies, microfilms, or microfiche, which has these disadvantages:
Labour Intensive and Time Consuming Process
The manual archival and retrieval of cheques requires a lot of time and effort to:
- Make paper copies, microfilms, or microfiche, and
- transport the copies from the storage area which is usually located far from the cheque archival center when needed
Inefficient and Tedious Storage
Bank has to provide dedicated warehouse facility and systematic repository for secure storage and easy retrieval of paper copies, microfilms, or microfiche.
Preservation method for the manual archival is intricate and, thus, paper copies are usually susceptible to deterioration.
The manual authentication of potentially fraudulent cheques may not be reliable. Visual verification of physical cheque to identify presence or absence of UV security features or exfoliation of MICR characters are not easily done without any tools.
To anticipate these potential issues, PT Murni Solusindo Nusantara has developed SMARTARCHIVE™ Deposit, a comprehensive cheque image capture solution that simplifies storage and retrieval of deposited cheque archives. Not only it enables digital copies of cheques to be stored at once without much hassle, this digital cheque solution also ensures easy retrieval of cheques’ data and images so that institutions can provide copies of cheques immediately when needed.
Dual-Sided Image Scanning
Integrated with any of the recommended cheque scanner, SMARTARCHIVE™ Depositscans andcaptures cheque image on both sides (front and rear) in B/W, Grayscale and Colour.
UV Scanning (Optional)
With UV scanning feature, SMARTARCHIVE™ Depositallows staff to authenticate cheque by examining the UV image of cheque captured.
SMARTARCHIVE™ Depositautomatically reads and captures MICR (magnetic ink character recognition) data, allowing staff to easily search the archive based on MICR data.
With reject repair capability, SMARTARCHIVE™ Depositcheque solution enables staff to edit or input captured MICR data manually in case of poor MICR encoding quality unreadable by the cheque scanner.
SMARTARCHIVE™ Depositcheque processing solution saved the data from all scanned cheques. All of cheques’ images and information are automatically stored in database storage.
SMARTARCHIVE™ Deposit is equipped with reports of archival activities to provide traceability and accountability for audit trail purposes.
Search & View
SMARTARCHIVE™ Deposit enables users to easily search and view archived cheques’ data and images with flexible search criteria, such as:
- Serial number
- Routing number or clearing code (Bank Sub Branch or Sandi Kliring code)
- Account number
- Transaction code (type of document)
- Batch number
- Date or range of dates
- Or any combination of the criteria above
SMARTARCHIVE™ Deposit allows staff to endorse the cheques by stamping text message on the back of the cheques to acknowledge that cheque has been received and processed accordingly.
Data & Image Export
With SMARTARCHIVE™ Deposit, data and image can be exported to XLS or CSV (for electronic data) and JPEG, PNG, BMP or TIFF (for images) for further processing (such as for clearing or cheque truncation purposes) or integration with core application.
- Automatic input of cheques and customer’s data when integrated with SMARTCHEQUEENTRY™, an automatic teller cheque deposit solution
- Online data viewer enables unlimited User to search, view, and export report data through web portal that can be accesses via LAN/WAN
- Centralized archive center synchronizes archived data and images from branches to a central database to make the data available at the Head Office
Through the provision of SMARTARCHIVE™ Deposit solution, PT Murni offers these following benefits:
- Easy storage of deposited cheques automatically to the database
- Faster and convenient retrieval of cheques’ images and electronic data whenever needed
- Minimized potential loss due to undetected cheque counterfeits with optional UV imaging and automatic MICR reading
- Maintain data and image quality as the digital archive is not prone to degradation or deterioration due to mishandling or other external factors
- Reduced operational cost due to minimized transportations and maintenance of digital data & image storage
SMARTARCHIVE™ Deposit cheque solution is seamlessly integrated with various cheque scanners below to accommodate low to high cheque deposit volumes:
|Digital Check CX-30||FUJI FB-30||Digital Check TS-240||Digital Check SmartSource® Professional|
|Suitable for low volume of cheque||Suitable for high volume of cheque|
|Capacity||Hopper||1 cheque||100 cheques||100 cheques||100 cheques|
|N/A||100 cheques||100 cheques||2 @100 cheques|
|UV (optional)*||UV (optional)*||UV (optional)*||UV (optional)*|
|Speed||30 cheques/minute||85 cheques/minute**||50/ 75/ 100/ 150 cheques/ minute**||80/ 120 cheques/minute**|
|B&W, greyscale, color||B&W, greyscale, color||B&W, greyscale, color||B&W, greyscale, color|
*Machine that comes with UV does not have the capability to capture image in color
** Predefined upon order