Veracious Cheque Truncation System (CTS)

Digitize cheque clearing securely with image-based, PKI-enabled, CHI-compliant processing.

Since 2006Serving banks

9 countriesCentral bank spec compliance

Cheques & collectionsProduct family

Overview

Streamlining Cheque Processing with Automated Truncation

The Cheque Truncation System is a comprehensive module designed to automate, validate, and manage cheque transactions within a banking environment. It supports rule-based processing, integration with core banking systems, and compliance with country-specific CHI formats.

This system ensures the efficient clearing, settlement, and auditing of cheque transactions from initiation to archival.

Cheque Scanning & Validation

Rule-based scanning of cheques and validation of transaction data.

Integration with Core Systems

Web service calls to core banking for customer lookup and transaction posting.

CHI File Management

Create, upload, download, and update CHI files for cheque, credit, debit, and settlement transactions.

Cheque Truncation & Exchange File Handling

Supports truncation (conversion to a digital image) and exchange file management for clearing houses.

Geographical Compliance

GSS has Central Bank specification compliance in the following countries

GSS Payment Hub and CTS modules can be configured for any country’s cheque clearing workflow. Veracious CTS has been serving banks since 2006.

India

UAE

Kenya

Uganda

Tanzania

Rwanda

South SudanPre-Truncation

DRCPre-Truncation

Bangladesh

Cheque Truncation System (CTS)

Features

Intelligent Rule-Based Processing

Empower seamless cheque workflows with configurable rule-driven scanning, validation, and routing, adapting dynamically to system logic and operational policies.

Core Banking Integration & Onus Handling

Seamlessly connect to core banking systems for direct lookups and postings, while efficiently managing on-us transactions to ensure real-time updates and internal consistency.

CHI-Compliant File Automation

Automate the creation and updates of cheque, credit, debit, and settlement files in line with CHI regulatory standards, reducing manual effort and ensuring operational compliance.

Smart UI & Field-Level Validation

Ensure country-specific field validations through an intelligent UI engine aligned with CHI formats, enhancing data accuracy and reducing rejections.

Straight-Through Processing

STP integration with all bank landscape systems, including core banking, AML, corporate portals, ERP and other integrations.

Veracious Corporate Capture

Corporate Portals – Remote Cheque Deposit Capture

Remote Deposit Capture is a unique product that enables the bank to scan and present cheques for clearing with ease from various remote locations. The bank is extending its range of services, enabling its branches, corporate customers and SACCOs (in the case of East Africa) to process cheques from their location and send the electronic file to the bank, enabling a quicker realization of the cheque.

Benefits to Bank

New Customer Acquisition. An RDC product can attract new clients who otherwise would not have banked with your institution.
Larger Wallet Share with Existing Clients. An RDC service can enable your clients to consolidate their deposits with your bank, regardless of geographic coverage.
Access to Greater Float. Larger volumes of cheques often result in larger balances left in the account.
Reduced Processing & Clearing Costs. Banks which offer a Remote Deposit Capture service can now accept deposits from customers outside their physical footprint.

Benefits to Corporate

Accelerated Clearings. Present cheques as they are presented to the corporate, for immediate clearing presentment.
Improved Cash Flow. Accelerated clearings and improved availability result in improved cash flow and working capital for your corporation.
Reduced Return Item Risk. The faster an item clears, the faster you'll learn about return items.
Reduced Transportation Costs / Convenience. Substantial savings can be had from reductions in transportation expenses.

Pre-Truncation

Veracious Pre-Truncation – Cheque Automation Platform

The Veracious Pre-Truncation Cheque Automation Platform is designed for banks in transition: those moving from traditional paper-based cheque processing to digital cheque truncation systems (CTS). In this pre-truncation phase, physical cheques are still collected and processed manually, but the system automates key steps to enhance speed, accuracy, and readiness for full truncation.

This platform acts as a bridge between manual cheque handling and a fully digital CTS environment, helping banks to digitize operations progressively without major disruptions to legacy systems. The Veracious Pre-Truncation Platform enables gradual digital transformation in cheque processing, providing banks with a smart, secure, and automated foundation while retaining compatibility with legacy systems and manual cheque handling procedures.

Cheque Data Capture & Imaging

Scans physical cheques and captures MICR data and front/back images for digital processing.

Physical Cheque Management

Supports acquisition, processing, and settlement of multiple payment instruments.

Validation & Reconciliation

Validates cheque details (account number, amount, signature) and ensures reconciliation with core banking data.

Pre-Truncation Workflow Automation

Automates steps like image storage, validation queue management, and audit logging before submission to CTS.

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