Cheque settlement

The process of cheque settlement reaps the majority of the benefits offered by the introduction of the IBAN.


Central Cheque Processing Server (CCPS) is a solution implemented by CODIX that manages all aspects of the settlement process. The system can:

  • read, encode, print, scan, sort and endorse cheques,
  • communicate with a bank's host at various stages of the settlement process in order to send/receive cheque information,
  • route the cheques to various business destinations and clearing houses,
  • sort the cheques according to predefined business criteria,
  • store the cheque images in a storage solution,
  • provide querying tools to locate and present matching cheques (information + images).

The system uses specialized document processing hardware, offering a cost-effective and scalable solution that can satisfy the needs of both small and large cheque processing centers.

When it comes to cheque processing machines, the system is hardware-agnostic and allows the end user to select from a multitude of machines.


Operational benefits

  • Minimize the data entry costs by 70-99%, depending on the standard used
    • OCRB in the Greek market: 70-80% depending on the type of cheque
    • MICR: 99%
  • Eliminate auditing and search costs
  • Automated sorting of physical cheques
  • Automation and workflow to minimize complexity and manual processes
  • Opportunities for new services
Download this file (CCPS.pdf)CCPS brochure