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Cheque Truncation
Cheque truncation (check truncation in American English) is a cheque clearance system that involves the digitization of a physical paper cheque into a substitute electronic form for transmission to the paying bank. The process of cheque clearance, involving data matching and verification, is done using digital images instead of paper copies. Cheque truncation reduces or eliminates the physical movement of paper cheques and reduces the time and cost of cheque clearance. Cheque truncation also offers the potential reduction in settlement periods with the electronic processing of the cheque payment system. History For cheque clearance, a cheque has to be presented to the drawee bank for payment. Originally, this was done by taking the cheque to the drawee bank, but as cheque usage increased, this became cumbersome and banks arranged to meet each day at a central location to exchange cheques and receive payment in money. This became known as central clearing. Bank customers who r ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Substitute Check
A substitute check or cheque, also called an image cash letter (ICL), clearing replacement document (CRD), or image replacement document (IRD), is a negotiable instrument used in electronic banking systems to represent a physical paper cheque (check). It may be wholly digital from payment initiation to clearing and settlement or it may be a digital reproduction ( truncation) of an original paper check. Standards and formats Software Software consists of computer programs that instruct the Execution (computing), execution of a computer. Software also includes design documents and specifications. The history of software is closely tied to the development of digital comput ... providers have developed "Virtual Check 21" standards within electronic banking systems which allows creation and submission of demand draft documents to the bank of deposit. Standards may include: * Remotely created checks (RCC) * X9.37 files Geographical significance United States The begi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Monetary Authority Of Singapore
The Monetary Authority of Singapore or (MAS), is the central bank and financial regulatory authority of Singapore. It administers the various statutes pertaining to money, banking, insurance, securities and the financial sector in general, as well as currency issuance and manages the foreign-exchange reserves. It was established in 1971 to act as the banker to and as a financial agent of the Government of Singapore. The body is duly accountable to the Parliament of Singapore through the Minister-in-charge, who is also the Incumbent Chairman of the central bank. In May 2025 the fund had US$629 billion in assets under management. History The Monetary Authority of Singapore (MAS) was founded in on with authority to regulate and supervise banking and finance in Singapore. It coexisted with the Board of Commissioners of Currency, Singapore established in 1967 to issue the city-state's currency, with which it eventually merged in 2002. Prior its establishment, its roles were p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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DMS Software Engineering
DMS may refer to: Science and technology Computing * Data Management System, component of VM/CMS * Document management system * Digital Media Server, a category within the Digital Living Network Alliance standard * Disk Masher System, compression software for the Amiga computer * Unisys DMS, a Unisys OS 2200 database ** Unisys DMSII * Digital Microsystems, Inc., an early microcomputer company * Digital Multiplex System, a telephone exchange system * Dealership management system, for car dealerships * DMS Software Reengineering Toolkit, program transformation tools * DMS-59, a video connector supporting two displays Chemistry and materials science * Differential mobility spectrometry in ion-mobility spectrometry–mass spectrometry * Dilute magnetic semiconductor, semiconductors with magnetic properties * Dimethyl sulfate, a methylating agent * Dimethyl sulfide, an organosulfur compound * ''N'',''N''-Dimethylsphingosine * Dimethylstilbestrol, a nonsteroidal estrogen Ot ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Tata Consultancy Services
Tata Consultancy Services (TCS) is an Indian Multinational corporation, multinational technology company specializing in information technology services and consulting. Headquartered in Mumbai, it is a part of the Tata Group and operates in 150 locations across 46 countries. As of 2024, Tata Sons owned 71.74% of TCS, and close to 80% of Tata Sons' dividend income came from TCS. In September 2021, TCS recorded a market capitalization of US$200 billion, becoming the first Indian IT company to achieve this valuation. In 2012, it was the world's second-largest user of U.S. H-1B visas. History 1968–2000 Tata Consultancy Services Limited, originally known as Tata Computer Systems, was established in 1968 by Tata Sons, Tata Sons Limited. The company's initial contracts involved providing punched card services to its sister company TISCO (now Tata Steel), developing an Inter-Branch Reconciliation System for the Central Bank of India, and offering bureau services to the Unit Trus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Sybrin
Sybrin is a software company headquartered in Johannesburg, South Africa that sells enterprise software and services to the financial services, insurance, and telecommunications industries. Sybrin implemented the first cheque truncation system in Africa, the third in the world, in Malawi.Sybrin Banking Gestetner Malawi. Retrieved 19 May 2016. The company offers a low-code platform along with other prebuilt solutions in their digital banking and payments as well as their intelligent automation product range. These include Payments Hub, KYC and AML, Intelligent Document Processing, Liveness Detection, Digital Onboarding, and more. Sybrin’s clients include corporates, insurance companies, telecommunication service providers, banking institutions, as ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Jack Henry & Associates
Jack Henry (JKHY) is a provider of financial technology solutions and payment processing services, mostly to community banks and credit unions. The company offers transaction processing, business process automation, and information management solutions and services. They assist regional banks and credit unions to control risk, make regulatory filings and add or improve their online banking services. History Jack Henry was formed in 1976 by Jack Henry and Jerry Hall in Monett, Missouri. The company was incorporated in 1977. On November 20, 1985, an initial public offering made Jack Henry a public company trading 3,125,000 common shares on the NASDAQ exchange under the symbol JKHY. In 1992, Jack Henry began to aggressively acquire companies that expanded its product offering and client base. It acquired Symitar in 2000, establishing its second brand which serves the credit union industry. In 2004, Jack Henry acquired a number of companies and products that can be sold outside o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Infosys
Infosys Limited is an Indian multinational corporation, multinational technology company that offers business consulting, information technology, and outsourcing services. Founded in 1981 in Pune, the company is headquartered in Bengaluru. On 24 August 2021, Infosys became the fourth Indian company to achieve a market capitalization of billion. It is considered one of the Big Tech (India), Big Six Indian IT companies. Infosys has also attracted controversies due to allegations of visa and tax fraud in the United States and for creating malfunctioning government websites. History Infosys was founded by seven engineers in Pune, with an initial capital of $250. It was registered as Infosys Consultants Private Limited on 2 July 1981. In 1983, it relocated to Bangalore. The company changed its name to Infosys Technologies Private Limited in April 1992 and became Infosys Technologies Limited when it became a public limited company in June 1992. In February 1993, Infosys launched ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Fiserv
Fiserv, Inc. ( ) is an American multinational corporation, multinational financial technology company headquartered in Milwaukee, Wisconsin. Fiserv provides financial technology and services to clients across the financial services sector, including banks, Savings and loan association, thrifts, Credit unions in the United States, credit unions, securities broker dealers, mortgage, insurance, leasing and finance companies, and retailers. In October 2015, Fiserv, Inc. was ranked third by revenue among technology providers to U.S. banks by American Banker and BAI (organization), BAI. In 2019, the company reported total revenue of $10.187 billion. Additionally, Fiserv owns First Data, which links 2 million Automated teller machine, ATMs via the STAR (interbank network), STAR network. Fiserv holds the naming rights for the Fiserv Forum arena in Milwaukee. History 1980s and 1990s Fiserv was founded in 1984, and within two years, it was listed on Nasdaq, NASDAQ. The company expe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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Computer Sciences Corporation
Computer Sciences Corporation (CSC) was an American multinational corporation that provided information technology (IT) services and professional services. On April 3, 2017, it merged with the Enterprise Services line of business of HP Enterprise (formerly Electronic Data Systems) to create DXC Technology. History CSC was founded in April 1959 in Los Angeles, California, by Roy Nutt and Fletcher Jones. CSC initially provided programming tools such as assembler and compiler software. In the 1960s, CSC provided software programming services to major computer manufacturers like IBM and Honeywell and secured their first contracts for the U.S. public sector with NASA (among others). By 1963, CSC became the largest software company in the United States and the first software company to be listed on the American Stock Exchange. By the end of 1968, CSC was listed on the New York Stock Exchange and had operations in Canada, India, the United Kingdom, Germany, Spain, Italy, B ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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BankServ
BankServ was a legacy financial services company headquartered in Enterprise, Nevada that developed electronic banking software and operated outsourced data processing centers used by banks and other businesses to move money electronically. BankServ was founded in 1996 and did business with over 400 banks in more than 50 countries, primarily supplying banks with the behind-the-scenes programs used for remote deposit, internet bill payment, mobile payments, wire transfer payments and sending messages over the international SWIFT network. History Since 2004, BankServ expanded into the fields of consumer remote deposit, electronic bill payment and credit card processing, and added an international division with the acquisition of the London-based Symtec Corporation. BankServ has received a number of awards, including nominations to Inc. Magazine's Inc. 500 list in 2003 and 2004, a list of the fastest-growing privately held corporations in the United States. Most recently, BankServ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |