Dublin's Kindle Banking Systems has added an Item Processing System (IPS), to the existing range of software modules available over its core banking solution, Bankmaster.
The new module is designed to provide banks with the ability to automatically process items that are currently being manually processed and input into the Bankmaster back office system. These include 'on-us', inward and outward cheque clearing items, together with inward and outward unpaid items. A flexible value dating matrix enables the bank user to pre-define and set up default clearing periods for items related to bank, individual branch, customer or specific account level.
IPS calculates all charges (including commission, fines and compensation interest) payable and receivable from other banks. It also calculates commission charges that are payable by the beneficiary, such as commission for remote locations, locations where the bank does not have a branch.
IPS provides an interface format to enable the exchange of files electronically between Kindle's Bankmaster and the bank's cheque clearing system.
Martin Dolan, product marketing director, comments: "The introduction of the Item Processing System module will help banks overcome the many problems associated with manually processing large quantities of transaction based items. With IPS, the automated capture, tracking and administration of items ensures banks will enjoy the benefits of greater speed, accuracy and control throughout the item clearing process."