Digital Processing

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August 31, 2024 4 min read Definitions

Cheque Imaging: The Process of Digitizing Cheques for Electronic Processing

Banking Finance Cheque Imaging Digital Processing Banking Technology Financial Efficiency

Cheque Imaging refers to the process of converting a physical cheque into a digital image, allowing for electronic processing, faster clearance, and reduced physical handling.

August 25, 2024 3 min read Definitions

Truncation: Definition in Banking and Computing

Banking Computing Finance Truncation Checks Digital Processing Computing Banking Services

Truncation in Banking refers to eliminating the service of returning canceled checks to customers. In Computing, it involves dropping the digits of a number to the right of the decimal point.