Newgen Case Study on Cheque Truncation System Solution.

1. Case Study BANKING
SOLUTIONS FOR BUSINESS PROCESS & CONTENT MANAGEMENT
Cheque Truncation System Solution
For a Leading Indian Bank
Overview
Servicing customers for over 85 years, the bank has achieved tremendous
growth and still has a phenomenal ambition to grow further. The bank
shall be rolling out the insurance products through a Joint Venture. The
bank is also expected to start a subsidiary by the next year. Further, the
bank has plans of opening branches and installing ATMs in the present
financial year within different parts of India.
The Challenge
Key Highlights The bank was running on a legacy system TBA (Total Bank Automation)
and not on a Core Banking Solution. All the clearing activities had to be
! Adherence to Central Bank’s de-centralized as all the Bank’s branches had individual databases for
regulatory compliance Account information.
! Centralized solution for cheque
processing The bank required a solution that had flexibility in terms of deploying the
! Automatic data extraction and solution in any architecture suitable for the bank. It was also looking for a
verification solution that had the ability to manage the central archival system. The
! Image assisted data entry support bank was looking for a vendor, who would provide an end-to-end
! Faster TAT customer-centric solution.
! Lower risk and enhanced
operational efficiency
The Newgen Solution
To meet its requirements, the bank analyzed the available solutions and
finally chose Newgen's Cheque Truncation System (CTS,
ChequeFlowTM). ChequeFlowTM comprises of OmniFlowTM for process
TM
automation and OmniDocs as the underlying document management
TM
system and ChequeFlow Lite for Branch level processing.
The process followed by Newgen's solution mainly consisted of
scanning all the outward clearing instruments, analyzing the image
quality of the instruments, verifying and correcting the images in case of
Image Quality Assurance (IQA) failed cheques, performing and
authorizing data entry of all the individual instrument amounts as per the
maker/checker concept.
Newgen's solution also enabled exporting of the file for the Central Bank
in the prescribed format(s), performing a manual verification of the
rejected cheque(s), generating the unloadable file(s) for the legacy system
and archiving all the cheques in the underlying DMS.
The inward process involved uploading and splitting the data and image
files received from the clearing-house, generating data files for
validations in the Bank's legacy system, and then verifying the technical
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2. Case Study BANKING
SOLUTIONS FOR BUSINESS PROCESS & CONTENT MANAGEMENT
and signature aspects of all the cheques. The process also created reversal
files for the rejected cheques, generated the return files (for the Central
Bank) for the rejected cheques and archived all the instruments in the
underlying DMS. The following diagram illustrates the implementation of
Newgen Software Technologies the Newgen solution.
Limited is the market leader in
Business Process Management
(BPM) and Enterprise Content
Management (ECM), with a global
footprint of about 800 installations in
over 35 countries. More than 100 of
these implementations are large,
mission-critical solutions deployed at
world's leading BFSI, BPO and
Fortune Global 500 companies.
Newgen is recognized by distinguished
analyst firms like Frost and Sullivan
as A 'Hot Company to Watch for' in
their global ECM Market report, 2009
and by IDC in its exclusive report
“Newgen Software: Global Leader in
Business Process Management and
Document Management Solutions”. The Benefits
Newgen is a winner of prestigious The Newgen solution provided the following benefits to the bank:
award, such as CNBC-TV18,
! Compliance with the Central Bank's mandate on Cheque Clearing
“Emerging India Award 2008”.
! Reduction of manual tasks leads to reduction of errors
With HSBC and SAP investment, ! Customer satisfaction due to the reduced Turn Around Time (TAT)
Newgen is one of the rare product ! Transaction Audit
companies to have backing of both ! Reduced manpower and overhead costs
leading financial and technology ! Real-time tracking and visibility of the cheques
companies of the world. Newgen’s
! Secured transfer of images to the RBI leading to less fraudulent cases
Quality Systems are certified against
ISO 9001:2008 and Information
Security Standard, ISO 27001:2005.
Newgen has been assessed at CMMI
Level3. Newgen prestigious clients include HSBC Bank, Deutsche Bank, Hua Nan Bank,
ABN Amro Bank, ICICI Bank, IDBI Bank, State Bank of India, ING Vysya Bank,
CitiFinancial, RAK Bank, Bank of Tanzania, Max New York Life, Bajaj Allianz,
Royal Sundaram Alliance, Unilever, Philips, GE Countrywide, EXL, Satyam
Nipuna, iGATE, Core 3, Ranbaxy, GSL, Kenyan Airways and SEC Phillipines.
Corporate Office US UAE
Newgen Software Technologies Ltd. Newgen Software Inc. Newgen Software Technologies Ltd.
A-6, Satsang Vihar Marg, 1364 Beverly Road, Suite 300 YI 46, PO Box 120586
Qutab Institutional Area, McLean, VA 22101 Sharjah Airport International Free Zone
New Delhi - 110 067 INDIA Tel: +1-703-439-0703 Sharjah, United Arab Emirates (UAE)
Tel: +91-11-4077 0100, 2696 3571 Email: usa@newgensoft.com Email: emea@newgensoft.com
Fax: +91-11-2685 6936
Email: corpmktg@newgensoft.com UK
Newgen Software Technologies Ltd.
www.newgensoft.com
68 Lombard Street,
London EC3V, 9LJ
CTS-CS-ANDH
Tel: +44-207-868 1736
Mobile: +44-78154 96669
Email: intmkt@newgensoft.com