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Center of Documents Processing
What is CPD?
CENTRO DE
PROCESAMIENTO DE DOCUMENTOS (CPD) is a division created
by Telered, S.A. with the objective of offering the
service of outsourcing of the document processing to the
member banks of the Panamanian Banking System. This
service is offered primarily to the processing of checks
that are exchanged for collection through the Clearing
House of the Republic of Panama.
How does CPD
operate?
The checks processing is performed by using the image
technology, which is the state of the art technology for
this type of services. The process consists of image and
data capture, its process and distribution of the
information contained in the checks that are sent and
received by the banks. Every member bank with general
license operation of the Panamanian Banking Center
receives deposit transactions from its customers on a
daily basis. These deposits can contain cash, on-us
checks (checks from the same bank), other local banks'
checks and foreign banks' checks.
The checks sent by any particular bank to the
Clearing House are those checks that its customers
include in their deposits and that are from other
local banks. For example, a customer from bank "x"
deposits to his/her DDA account a check drawn by a
customer of other bank "y". In order to collect this
check, bank "x" send it to the Clearing House, which
process the payment between bank "x" and bank "y".
This example occurs several thousand times everyday
between the different banks. This is why, at the end
of each working day, the banks must prepare all the
received checks, sorting them based on the bank,
balancing the amounts, and microfilming them as a
backup. Then an envelope must be prepared for each
bank to which the checks are being sent. These
envelopes are sent the next morning to the Clearing
House for collection. There is an accredited
representative for each bank that participates in
the Clearing House, who is responsible of exchanging
the documents. The sending of checks is called
outgoing clearing and the receiving of checks is
called incoming clearing. In both cases, there is an
exchange of envelopes between banks.
Each bank, at the beginning of the day, must prepare
the checks received at incoming clearing to be
processed. In this process, information of the check
is captured, such as account number, check number
and amount and then microfilmed for backup.
The processing of documents represents considerable
operation costs for the banks. The items that
contribute to these high costs are:
- Cost of the necessary equipment
- Maintenance costs for equipment and programs
- Human Resources
- Process time
That is why Telered, S.A. has created the Centro de
Procesamiento de Documentos (CPD), which offers the
processing of documents, using image technology as its
main service. Among other services provided by CPD are:
-
Reception of documents that come from the bank
-
Preparation of documents to be processed
-
Electronic capture of the check image and information
-
Correction of documents in error
-
Batch balancing
-
Sorting of documents
-
Report generation
-
Preparation of information to be receive in the bank
-
Remote inquiries of checks from the banks, using
communication facilities
-
Generation of CDs with images of the checks processed
IMPORTANT:
The utilization of the image technology allows a more
efficient and swift operation, and complies with the
legal requirements that rules the processing and storing
of documents.
Future Vision: among the main services that CPD will be
offering in the future are:
ˇAND
MUCH MORE!....
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