Symphony’s Cheque Processing Solutions is the provision of software and consultancy services relating to clearing and payment services, management and the operation of cheque processing services bureaux.
At the heart of our services provision is a cheque processing infrastructure with an underlying commitment of carrying out the service within a strong corporate governance.
A robust cheque processing infrastructure and an underlying commitment of carrying out the service within a strong corporate governance and yet controls the environment is at the heart of the service provision.
Our competitive edge lies in:
- A proven multi-bank processing capability as exemplified by the existing operations in Singapore that provides the service from a common bureau for OCBC, DBS and UOB. It allows for the banking client to benefit from economies-of-scale whilst still maintaining the integrity and security of their cheques. The multi-bank processing ability is demonstrated in the manner that the bureau is established, its design to cater for several banks, and the delineation of systems, people and processes that cheques from different bank goes through. All of these features are being replicated for the service bureaus in Malaysia.
- A leading cheque processing application in Image Vision. The solution is a global leader with many install bases around the world. It was developed by Advanced Financial Solutions and is versatile and can be integrated with all the major platforms and front-end devices.
- Superior workflow processes that allow for a shorter processing window. Unlike other applications, Image Vision allows for faster turnaround due to its features and functionality of being able to perform different processes concurrently. It also has a better validation process that is undertaken before encoding. This minimises any encoding mistakes.
- Scalable capacity to take on the volume of cheques from additional banks. The bureaus that have been established were designed with additional capacity to allow for expansion in the event that additional banks subscribe to the service. Symphony need only to add minimal staff and hardware to the existing bureaus.
- Service Bureau Locations meticulously chosen for its venue facilities, distance and travel time to a Bank Negara Malaysia branch, accessibility for courier services, building security and facilities, public transport and amenities and even financial stability of building owner and layout.
The Cheque Processing Bureaus operates from (8) centres across the country:
- 2 in Kuala Lumpur
- 1 in Penang
- 1 in Johor Bahru
- 1 in Ipoh
- 1 in Melaka
- 1 in Kuantan
- 1 in Alor Setar