CHECKLOGNAX The Integrated Outward & Inward Cheque Clearing Solution for Banks and other cheque clearing Institutions

The system effectively monitors outward cheques. It employs a device through which the MICR code line of a cheque is captured and cheque's scanned picture stored. The system generates a capture file which is deployed to either Nigerian Interbank Settlement Sysytem (NIBSS) or a settlement bank for the commencement of clearing processes as it has in-built interface with NACS server at the clearing centre in conformity with NIBSS'specification.

With NAX, banks would be able to automatically generate their caution notices based on the different criteria the bank must have stipulated for a cautionnotice generated. NAX has been developed in such a way that it would drive all check scanning devices. As an electronic image-based cheque clearing system, Nax establishes an automated electronic cheque processing mechanism that replaces the current costly and time-consuming manual method.It uses very small-sized computing and communication equipment to move cheque information highly efficiently between the bank's branch, and the central clearing department for processing, before transmitting to NIBSS same day. All these and more require minimal man, material and infrastructure.

BENEFITS

1. Generation of files and reports for NACs on CDs and diskettes
2. Captures images of cheques front and back
3. Image management module ensures easy retrieval, storage and printing of cheques drastic.
4. Tool for maintaining integrity between cheque beneficiary and account holder's identity auto  generation of statutory returns
5. Savings in stationary(photocopy and pre-printed slips) and clearing preparation time
6. Efficient processing and transmission of capture file
7. Ease of use

FUNTIONALITY

1. Auto generation of capture file
2. Capture and storage of cheques graphics
3. Enquires and reports
4. Open and expandable
5. Regression analysis of clearing transaction