CBB executive director of banking operations Shaikh Salman bin Isa Al Khalifa said BCTS would not modify the existing practice of writing and depositing of cheques by bank clients.
BCTS will decrease costs and risks connected with handling physical cheques and make banks' activities more efficient.
By integrating our products, we can offer BCTS clients solutions that will save them both time and money.
Miguel Espinal, managing director of BCTS said, "In the Latin American market, TranSenda's technology will allow us to better acquire, process, and present data to clients on a variety of platforms -- including wireless, palm devices, kiosks, phones, as well as through traditional PC-Internet infrastructure.
In addition, IXOS has formed reseller partnerships with Xamai, S&A and BCTS.
BCTS, with a staff of 220, is the Peruvian leader in SAP implementations.
The summarized conclusion coming from broad experimental data is that physical and chemical factors, whose influence on BC have been studied, do not have any relationship with the mechanism of BCTS
, but only play a synchronizing role.
When a customer deposits a cheque, a bank provides the customer with a deposit slip generated by the BCTS
generates a timed deposit slip with a unique reference number.
Buhijji said the CBB is closely monitoring the operations of BCTS
to ensure its expected efficiency and robustness is not compromised.
CBB executive director of banking operations Shaikh Salman bin Isa Al Khalifa said that the implementation of BCTS
is a national initiative to modernise and improve efficiency of cheque clearing in Bahrain, in keeping with global trends.
The existing paper-based cheque clearing system in the kingdom will be replaced by BCTS
with a fully automated image-based cheque clearing one.