In tune with RBI "CTS" - 2010 standard, Newgen Software Technologies has launched its next-generation Cheque Truncation System (CTS). It aims at fully automating data extraction, verification and fraud detection in the CTS environment.
Among the various cheque security features, the set of minimum security features not only ensure uniformity across all cheque forms issued by banks in the country, but also help in scrutinizing cheques of drawee banks in an image-based processing scenario.
Virender Jeet, Senior Vice-President, Newgen Software Technologies, said, "CTS-2010 standard is the right step towards achieving the true benefits of Cheque Truncation. Newgen’s research and development team has been working on the different aspects of cheque security and automatic data extraction for quite some time and now we can derive immense returns from these innovations."
Pantograph and ultra-violet logos are the other features of the standard introduced as the security features. All the cheques will have their bank logos printed with UV ink, which can only be visible under ultra-violet light, prohibiting any corrections on the cheques. Newgen's solution completely automates Cheque Truncation and automated data extraction of all cheque fields.
