INCHEQS OCS

Outward Clearing System (OCS) covers the Outward Clearing and Inward Return legs of the Cheque Clearing Process.

INCHEQS OCS allows processing, managing, and administering outward and inward returned Cheques. It is designed in compliance with the Central Bank’s Cheques Truncation standards and supports newer document processors such as cheque scanners and cheques deposit machines. It is also capable of integrating with the Bank to allow Cheque Deposited via Bank Mobile App to flow into INCHEQS OCS for the clearing process.

Functional has partnered with InsiteMy to install and support a Checking Image Clearing System (CICS) primarily for the banking industry. CICS is an automated electronic system for clearing deposited checks between banks using digital image of the check through the Philippine Clearing House Corporation (PCHC), an agency designated by the Central Bank of the Philippines in processing the digital check deposits of banks. InsiteMy is a leading innovative software solutions provider in Kuala Lumpur Malaysia for the financial services industry.