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India : Intellect Design Arena, SBT partner to provide IQA solution major global bank.

The world's first full-spectrum banking and insurance products firm for the digital age, Intellect Design Arena Limited, has entered a partnership with Silver Bullet Technology, Inc. (SBT), the leader in cheque-scanner experts and development tools.

Under the partnership, the two companies will provide an Image Quality Analysis (IQA) solution for one of the world's top-ten largest international banks.

The solution will deliver instant assurance of cheque image quality, thereby removing processing errors at the source and significantly bolstering the bank's ability to conduct faster cheque clearing under India's Cheque Truncation System (CTS).

A faster image-based cheque-clearing system adopted by the Reserve Bank of India in 2014 - the CTS has significantly cut the time and cost of cheque clearing by replacing the manual delivery of paper cheques with the electronic transmission of digital images and magnetic ink character recognition.

As part of its collections and receivables solution implementation for one of the world's major global banks, Intellect has consolidated Silver Bullet Technology's Ranger API using the Image Quality Analysis (IQA) tool. The API will ratify image quality to ensure compliance with India's CTS - eliminating the possibility for image-related errors at the very start of the cheque-clearing process, and thereby reinforcing the bank's ability to provide faster streamlined payments clearing for its customers. Moreover, the solution is designed to evolve alongside market requirements by adapting to the latest Financial Services Technology Consortium (FSTC) and ANSI X9B standards.

CEO, Silver Bullet Technology, Bryan Clark, said, "Image quality assurance at the source provides faster cheque-clearing. Accelerated and accurate clearing becomes more important as physical cheques are often destroyed directly after being digitized. By identifying and eradicating errors at the start, Intellect Design Arena can ensure the bank's payment-clearing processes, and the broader CTS, operate at their full potential".

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Publication:Mena Report
Geographic Code:9INDI
Date:Jun 17, 2016
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