Newgen Introduces Next Generation CTS Soln

Newgen Software Technologies Limited, launched its next generation Cheque Truncation System (CTS) in tune with RBI ‘CTS – 2010 standard’. It aims at fully automating data extraction, verification and fraud detection in the CTS environment.

The new specification standardises the layout format of the cheques to a much greater degree than earlier and also includes 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 scrutinising cheques of drawee banks in an image-based processing scenario.

Commenting on the merits of ‘CTS-2010 standard’, 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.”

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Another ground-breaking feature of the standard is the introduction of the security features – pantograph and ultra-violet logos. All cheques will have their bank logos printed with UV ink. These logos will be visible only under ultra-violet light. Furthermore, any corrections on the cheques will be prohibited.