Electronic Clearing

pibas Electronic Clearing System

PIBAS' Electronic Clearing System offers an innovative technological solution that is based on electronic image processing.

The technology used by the Electronic Clearing system is based on the industry-standard communication infrastructure to
replicate the cheque clearing procedure. The system provides a simulation mechanism by integrating both the hardware &
software components together

Benefits:

Online Real time inward / outward clearing
Fully automated settlement
Cheque images transformation through optimized encrypted streaming
No deployment required on client sites
Secure and reliable solution
Browser based solution
Platform independent
Load balancing for optimized performance
Automated clearing house fee, charges, penalties & offset entries
A cost-effecctive solution

Features:

Smooth & Hassle-free clearing settlement
The system enables the clearing house with smooth & hassle free settlement clearing. The system
works transparently from daily routine activities to settlement, and doesn’t require any human
intervention at the clearing house

Offline mode
An offline mode mechanism has been introduced in the Electronic Clearing system, that facilitates
in keeping the system continuously in servicing mode. This mode is available for both the clearing
house as well as members of the clearing house

Monitoring console for Country-wide clearing movements
PIBAS' Electronic Clearing system provides executives with country-wide live clearing activities on a
single screen. This screen features a drill down mechanism which provides, not only a 360° view of
country-wide clearing, but also infiltrates from a settlement amount of any given bank to a single
submitted cheque

Automated Correspondence
Introduces an automated correspondence mechanism to banks / branches for efficient & hassle-free
reporting to all stakeholders for un-attended cheques / clearing while performing clearing house settlement