ADEC – Advanced Digitaly Encrypted Cheque
Altered cheque fraud is based on the fraudster’s ability to emulate information that is visible and readable to them. Our solution is to hide such information in such a way that is only visible to the bank, electronically comparing the visual information on the cheque against the hidden and decoded information.
There’s a revolution now underway with sophisticated imaging technology that can capture, transmit (clear), transport and store paper-based items like cheques. Our solution, using the lightest, the most effective hardware and in-house developed software to capture the cheque digitally and makes it available for electronic comparison.
Known as cheque truncation, a new practice of holding a paper cheque at the bank where it was deposited, and electronically forwarding essential information on the cheque to the bank on which it was written. Many banks around the world already use imaging in one form or another.
Some banks allow members to both view cheque images via Internet banking, and receive imaged cheques with their banking statements. We at Brithol Michcoma make all this possible by ensuring that all cheques are scanned (digitally capture the front and back images of cheques) and stored at the front end. However the key benefit of imaging is its ability to combat cheque fraud by providing the banks with self-authenticating cheques using highly encrypted bar codes and cheque stock validation. Considering that the speed of fraud detection is critical to reducing fraud losses, imaging holds great potential as it will enable fraud review and decision-making to take place much faster. Our solution achieves this in the most time and cost effective way.
With cheque fraud as one of the leading causes for loss for financial institutions, companies and merchants, digital imaging is a technology whose time has come.
It is anticipated the banks around the world will move toward an environment that supports inter-bank fraud verification at the point-of-capture so that a collecting bank can share data and images with the paying bank. This would help to detect potential fraudulent items earlier and better manage risk on depository funds. By making this possible, Brithol Michcoma is assisting financial institutions and the consumer to win in the fight against fraud.
Adec: Back Office
Electronic Compensation
- Electronic scanning of cheque image (front and back)
- Electronic reading of cheque data on MICR line (Bank, Branch, Account Number, Cheque Number, Checksum Digits)
- Verification of authenticity (through MICR line and 2D bar code (where applicable)
- Data transfer to bank core banking system
- Creation of electronic compensation file (CEL_ENV)
- Reading of electronic compensation file (CEL_REC)
- Reports and statistcs
- High quality and speed cheque reader, high resolution images
Technical Specifications
- Cheque reader NCR TS 230 (multi-cheques)
- Speed of up to 65 cheques p/minute
- USB 2 connection to workstation
- Capta frente e verso a uma resolução de 300 dpi
- InkJet Certification
- Microsoft SQL database (local or central)
- Compatible with Windows 2000 e XP
- Automatic image compression up to 10Kb per image
- Integration with core banking systems
ADEC: Front Office
Verification and Reading
- Electronic scanning of cheque image (front and back)
- Electronic reading of cheque data on MICR line (Bank, Branch, Account Number, Cheque Number, Checksum Digits)
- Verification of authenticity (through MICR line and 2D bar code (where applicable)
- Data transfer to bank core banking system
- Automatic sending of scanned images to the account owner via email for verification purposes
- Automatic sending of SMS with cheque data to account owner for verification purposes
- Reports and statistcs
Technical Specifications
- Cheque reader NCR TS 215
- USB 2 connection to workstation
- Capture of front and back of cheque at a resolution of 300 dpi
- InkJet Certification
- Microsoft SQL database
- Compatible with Windows 2000 e XP
- Automatic image compression up to 10Kb per image
- Integration with core banking systems