NCR ChequeMark Brochure - English UK

Payments are evolving and the ways they need to be processed are changing. As a result, banks must adapt their payment processing infrastructure and modify their practices in order to meet the demands of the new electronic marketplace.

Cash availability schedules, transfer delays, fraud potential and the inherent manual process in banks increase the risk and cost associated with existing cheque clearing environments. The electronification of paper processing improves the potential for increased efficiencies, enables significant risk reduction and lowers transaction costs. An electronic and imaging payment processing solution offers credibility to the public and the financial community. In addition, this type of solution must allow customers, central banks and commercial banks to initiate payments in a user friendly and highly automated and efficient environment.

Cheque truncation is no longer the future of the new electronic marketplace—it is the present. Traditional payment processes can no longer support the demands and the timing of the electronic marketplace. Banks are moving toward adopting newer technologies that electronify the paper cheque, permitting faster payment clearing and settlement, thereby reducing costs and saving time, enabling them to concentrate on newer products and improving customer relationships.