ECHO is designed to handle the clearing of electronic cheques, electronic debits, electronic credits and discrepancies at a single centralised or several de-centralised clearing houses and interfaces with the Central Bank Settlement system to update the clearing member positions.
ECHOFMS is designed to handle the clearing bank requirements. It allows for MICR scanning of cheque codelines and the cheque images for both inward and outward clearing. Electronic debits and credits can be created, and the electronic data is formatted into the required clearing format for passing to the Clearing House.
Both solutions can work seamlessly with an electronic file authentication system to ensure security of data, which can also be implemented and supplied by Chase Cooper.
|
