|
|
 |
 |
 |
| Tuesday, 25 May 2004 |
 |
|
 |
Business | |
| News Business Features Editorial Security Politics World Letters Sports Obituaries
|
Lanka Clear in Rs100 m cheque clearing operation by Sudarshana Perera Lanka Clear (Pvt) Ltd, the National Cheque Clearing House will invest over Rs 100 million to broadbase and streamline the cheque clearing operation in the country with the implementation of Image Clearing and Cheque Truncation Technology or CIT system. This initiative is expected to streamline the entire cheque clearing process to a maximum of two days thus expediting the payment and settlement system in the banking sector. The present operation takes 1-10 days. The company will set up eleven Regional Image Capturing Centres in Colombo, Jaffna, Ampara, Anuradhapura, Polonnaruwa, Badulla, Matara, Ratnapura, Kurunegala, Kandy and Nuwara Eliya. According to General Manager/CEO Lanka Clear (Pvt) Ltd, L. J. Wickramasinghe, the reader sorters and its cheque clearing software at the Clearing House in Colombo will be replaced with a solution that reads and captures the Images. This will automatically sort the cheque images and data by the paying bank/branches. The proposed system will also generate the inter bank settlement files for settlement. Wickramasinghe said that the new step would also require introduction of Image friendly cheques, legislative amendment and installation of image processing equipment at the main site and back up sites. With cheque truncation system (imaging), instead of the physical cheque the electronic image of the cheque will be transmitted throughout the entire clearing cycle. The ultimate objective of the Image Clearing System is to reduce the cheque clearing time in the entire island to a maximum of two days. He said the new system will improve the payment and settlement system to go in line with the economic growth. Ten Regional Service Bureaus would also be converted to Regional Clearing Houses. Elaborating on the features of the new system, Project Manager of CIT, Amal Ranasinghe said that the regional centres will truncate and archive the physical cheques and the images of cheques are moved to Lanka Clear for authentication and returns. Lanka Clear (Pvt) Ltd is the national cheque clearing house owned by the Central Bank of Sri Lanka and other commercial banks operating in the country. |
|
News | Business | Features
| Editorial | Security
Produced by Lake House |
