NCR unveils proprietary solution for post-dated cheques in India

New Delhi: NCR Corporation (www.ncr.com), a leading global technology company, today announced the launch of ChequeMark PDC Module, a proprietary solution for handling post-dated cheques (PDC) in India. After having successfully implemented the solution at ICICI bank, NCR is working closely with other banks to help them streamline their processes.

As part of the payment solutions from NCR to facilitate increased automation, the proprietary solution of PDC Module has been specially developed to address the problem of post-dated cheques for the Indian banking industry.

Says Ruth Fornell, vice-president and general manager, Payment and Imaging Solutions: "Developed and customised in India, for the specific Indian banking industry needs, we see a definite opportunity to extend this solution in some other markets such as Thailand, China and Australia. Once cheque truncation becomes a reality in India, our PDC solution is geared to adapt to the new situation as it is able to electronically present the cheque image automatically on the due date of presentation."

Says M N Gopinath, senior general manager, ICICI Bank: "Keeping in mind the increasing volumes of PDCs, automation is increasingly becoming imperative as against the manual presentation and clearing of cheques. Apart from cost reduction, this solution facilitates efficiencies in terms of the timelines, which is a critical issue for cheque realisations. This aids in streamlined business processes and greater customer satisfaction."

Studies reveal that the PDC Solution is expected to improve the bank efficiency by about 30-35 per cent besides its definite contribution to improving customer satisfaction and the cash management systems.

Reaffirming its commitment to the Indian market and in view of the growth potential in the Asia Pacific region, NCR Corporation''s Centre of Expertise in Mumbai will now be responsible for developing the various imaging solutions, including the ECPIX solution (solution for cheque truncation) for the various countries across the globe.