This is an excellent system for medium sized corporations. In this system electronic cheques are entered on a local application by accountants (secondary users) and uploaded to the bank site. The primary user can review these cheques and authorize payment on these in one go over the internet. Great for traveling executives who want to retain the financial control of the company but cannot afford to be shackled to their own offices.

PURPOSE

The purpose of this system is to separate out the functions of cheque writing and cheque signing. The cheque writing is done by accountants on a local machine and the cheque signing is done by the authorized signatories over the web using digital signatures.

UNIQUE FEATURES AND BENEFITS

The concept delinks the cheque writing and signing. By providing the facility to sign the cheque anywhere in the world, it makes it easy for businesses to continue without requiring the physical collocation of the bill receiver, cheque writer and the cheque signer.

FUNCTIONALITY

• Local machine application for cheque writing
  
• Update to central site for cheque verification and signing
  
• Download over the net to review the cheques written
  
• Authorized signatory can sign the cheques selectively by selecting each row or all rows and approving them for release of payment.
  
• Back end can consist of either direct interface to RTGS or other bill payment mechanisms of the bank.
  
• The system will only work for pre-registered payment recipients.

TECHNOLOGY

The structure is a 3 tier structure and consists of a browser based application written in JSP for the verifier and authorized signatory. Data interchange happens via encrypted data structures.

The application for the cheque writer is written in VB/JAVA and works on a local machine. It connects to the banks backend via a middle tier server written in form of a Java servlet.

The software uses ISO 8583 messaging system for transaction processing.

The software can work with any standard RDBMS such as MS SQL, and Oracle.