CTS Interface

Cheque truncation means stopping the flow of the physical cheques issued by a drawer to the drawee branch. The physical instrument is truncated at some point en route to the drawee branch and an electronic image of the cheque is sent to the drawee branch along with the relevant information like the MICR fields, date of presentation, presenting banks etc. This would eliminate the need to move the physical instruments across branches, except in exceptional circumstances, resulting in an effective reduction in the time required for payment of cheques, the associated cost of transit and delays in processing, etc., thus speeding up the process of collection or realization of cheques.

CTS Interface

Highlights of CTS interface

  1. CTS interface eliminates the time, money and manpower wasted during physical movement of cheques (from banks to clearing house).
  2. Thus, Cheque Truncation
  3. Faster clearing
  4. Better service to customers
  5. Cheque Truncation system reduces the scope for clearing-related frauds
  6. There is no fear of losing cheque in transit.
  1. Simple and user-friendly graphical user interface
  2. Bitonal Front & Back, Grey scale images
  3. Automatic encoding and endorsing
  4. Data file encryption before transmission to service branch/Clearing House
  5. Enables user to avoid duplicate MICR cheques
  6. Enables high productivity because of its easy to use feature
  7. Also suitable for sub member banks.