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Bills Pay Collection System
Product Overview
Product Overview
Bills Pay Collection System
Client: Standard Charted Bank
- Client:
- Standard Chartered Bank
- Year:
- 2020
- Category:
- Banking Applications, Web
- Location:
- Dhaka
- ROI:
- 45%
Product Information
Product Information
This system is a dual control system for automated deposits and bills payment through ATMs. Machine-generated transaction log will be imported to the system and reconciled with physical cash and cheque.
Functions
The 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 acknowledgment, the Central bank will balance the fund transfer exchange between the cheque drawer and drawee banks.
Attractive Features
- 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
Representatives Clients
Standard Charted Bank
Number of Installation/Clients: 01
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