Thousands of Transactions of different types are executed every day in Banks’ Branches and departments to serve clients’ needs. Transactions Auditing and validating in turn requires a great amount of time and effort that is growing exponentially with the growth of the number of transactions.
Transaction Auditing Solution (TAS) streamlines scanning & indexing of daily cheques & vouchers in the bank. The solution exploit the OCR/ICR technologies (Optical Character Recognition) to provide the capability to capture Cheque/voucher information such as Cheque/voucher date, transaction reference number, drawer and? beneficiary account numbers, etc.

When the accuracy of specific fields go below the defined threshold the system prompts the user to complete/correct that specific field. The scanned images and their associated index values are the base on which transactions will be audited and validated.

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Leveraging various integration adapters, the system extracts data and daily transactions from the main core banking system and other connected systems to transform it to fit auditing needs. Automated methods and business rules are defined to map a transaction with its respective document.

Automatic Signature Verification (ASV) is also a part of the Automation process. Hence, signatures are automatically captured from cheques/vouchers and verified against banks signatory management system. Operators are only required to visually verify cheques that do not pass the automatic verification. This will result in actually verifying all daily transactions on a given day, thus lowering processing time, and higher productivity while minimizing most risk aspects.

Higher Level of Automation, Enhanced collaboration

Our Transaction Auditing Solution (TAS) electronically routes cheques/vouchers images and data in a logical, well-designed flow to the concerned branches and departments in the bank. Comprehensive policy settings allow you to control and configure the required conditions, routing directions and multiple levels of approvals which will enforce a unified and consistent auditing and remediation cycle.
TAS also provides Configurable Notification Services to improve communication within bank officers, and supports them to react quickly and easily to various situations. In its turn, this will also guarantee faster action on violations and lower risk.

Transaction Reporting, History and Audit Trail boost Transaction Integrity!

Transaction Auditing Solution (TAS) includes a flexible reporting module that includes a set of standard reports, as well as giving you the ability to customize these reports or generate new reports based on the business ever changing needs.
Cheques & vouchers data and images can be also archived for future reference, hence, you can easily access this data based on customer request and/or research purposes.
A comprehensive Audit Trail provides you a record of all user activities and actions; whether related to application configuration, security or data processing is fully available at your fingertips.