Industry WIKI

Cheque truncation (check truncation in American English, also cheque imaging) is a cheque clearance system which uses the digitization of a physical paper cheque into a substitute electronic form for transmission to the paying bank. The process of cheque clearance, involving data matching and verification, is undertaken using digital images instead of paper originals.

Core banking is a banking service provided by a group of networked bank branches where customers may access their bank account and perform basic transactions from any of the member branch offices.