Faster Connection

LankaClear, the cheque clearing arm of the Central Bank, plans to set up ten regional centres to speed up payments and settlement systems.
Known as lquote cheque image clearing and truncation, the system clears cheques faster by electronically capturing a cheques image and cuts lead times from ten to two days.rn

rnThe main features of image clearing is that physical cheques are truncated and archived at collecting banks or image capturing centers. rn

rnImage of both sides of the cheques are captured using image scanners. The image then moves electronically to LankaClear (Pvt) Ltd and vice versa for authentication and cheque returns.rn

rnThe Central Bank is initially looking at setting up image capturing centers in Jaffna, Anuradhapura, Polonnaruwa, Badulla, Matara, Galle, Ratnapura, Kurunegala, Kandy and Nuwara Eliya.rn

rnThe bank is now calling for expression of interest, from vendors to set up the regional centres. The Central Bank says interested parties should have experience in cheque trun