What is ICCS Corporate?
Many corporates find it difficult to keep track of large volume of cheques collected across multiple locations, transport their cheques to banks dealing with the high operational cost. A bank offering them a faster and simpler cheque clearing cycles makes a distinct market for itself.
Unity’s ICCS Corporate has created a unique way to create value for your corporate clients. Image-based Cheque Clearing System Corporate (ICCS Corporate) is an extension of ICCS Pro, which is already welcomed by many of the leading financial institutions. ICCS Corporate is an internet hosted system which allows corporates to scan and upload large volumes of cheques from any locations, online and initiate their clearing almost immediately.
ICCS Corporate enhances business to the bank in corporate sector by easing the check image clearing process for corporate. Using ICCS Corporate, customers will be able to capture images of checks at their premises on a daily basis and process their deposit enabling efficiency and speed. This will not only streamline the operations at the client but would also reduce workload at the bank thereby reducing operational cost. ICCS Corporate and the ICCS system at the bank site will be integrated, in a way to configure for STP / Non-STP way based corporate client requirement.
Why ICCS Corporate is the best solution for your business?
ICCS Corporate is designed considering the valuable feedback from the corporate banking community.
- Simplified, secure and accelerated check clearance in bulks
- Fully automated check image clearing solution without any paper based processes
- Offers seamless integration with all major core banking systems
- Online cheque deposit tracking system
- Online clearing of cheques helping in the management of receivables
- Minimal data capture / online Image and MICR capture
- Current dated / post-dated cheque management
- User friendly end to end reporting
- Reduced costs and risks associated with the transportation of items
- The option for chargeback/redeposit decisions from online screens
- Low operational cost and increased revenue for banks, corporates and NBFCs
- No physical storage and reduced manual intervention
- Flexible integration with market leading scanner device
- Flexibility to host as an independent online portal or integration with existing corporate internet banking portal.
- Automatic IBAN generation & cheque endorsing feature
- Digitisation in facilitating quicker and easier processes for corporates
Ready to get started with the new cheque clearing system?
Accelerating Check Clearance for Corporates
Cheque clearing in UAE has entered another era via the new cheque clearing solution online called ‘Image based cheque clearing system’. The new ‘image cheque clearing system’ which is fully electronic has already become operational linking all the banks in UAE. With this cheque image solution, the cheques can be cleared within a few hours. This duration was gradually reduced as the banks became accustomed with the CTS cheque image system. The cheque image clearing system enables the CTS cheque clearing faster, within hours.Unity’s cheque imaging and truncation system – ICCS, is capable of electronic clearing of cheques irrespective of where they are presented.
Clearing of cheques through traditional system took between 2 to 6 days earlier. With the check truncation system, there is a cheque archive facility at the Central Bank which will be made available to all banks in UAE. This new cheque imaging solution had enabled the storage of cheques for fewer years, but has been extended when the image based cheque clearing system became operational for sometime.
Providing end to end cheque imaging solutions, the image based cheque clearing system comes armed with functionalities for all phases involved with CTS cheque clearing such as outward clearing, inward clearing, Postdated cheques, return of outward, return of inward, Onus cheques processing, Corporate cheque capture and reconciliation. Based on the experiences, research and development investments that Unity has attained over the years in cheque imaging solutions, we have launched the state of the art advanced version of our existing ICCS solution “ICCS Corporate”.
Over the last few years since check truncation system was executed in UAE, we have seen the cheque image clearing system evolved in many banks and collected their valuable feedback, learnt it thoroughly and developed ICCS Pro integrating vast set of features, performance aids and best practices of those banks into this cheque imaging and truncation system.
Unity pride itself in aiding banks streamline and cater the rising customer demand and attain substantial savings in IT support expenses. The CTS cheque imaging system leverages our wide experience from working with many leading banks in the country.
In spite of banking industry forecasts of the expiry of cheques, they remain one of the major payment methods in many countries. The Image Cheque Clearing System (ICCS) signifies the contemporary way of processing traditional paper-based payment methods. A few countries across the globe provide CTS cheque clearing using similar technology. In 2003, Singapore, had introduced an image based cheque clearing system, and was a forerunner in this field. The other country who have employed cheque truncation system is USA. ICCS or Image based cheque clearing system signifies a key step forward in the operation of the Central Government Strategy to use electronic schemes and technology to enhance speed, competence and security of transactions happening in the UAE