When Central Banks introduce Clearing and Settlement Systems (CASS) Commercial Banks need to prepare themselves for this change. Commercial Banks will need to be in a position to provide and receive clearing files electronically to and from the Central Bank. Most Central Banks require that the files be : Of a format specified them Compressed Encrypted Transferred over FTP

Bankbridge Supports :

Validation
Central Banks will specify file formats for the messages being processed, namely:

Financial Messages such as :

Cheques
Promissory notes (bills)
Transfer orders
Settlement orders
etc.

Non Financial Messages such as:

Inquiry / Response about an account number
Inquiry / Response about the state of account
Information about opening/ closing of a branch
Change in membership condition
Change of representative / operator
Suspension or exclusion of bank
etc.

Commercial Banks will need to prepare and process files that conform to these formats. BankBridge validates files created by existing systemsto ensure any files being sent to Central Banks conforms to the formats prescribed by them.

Encryption
To ensure the Authentication, Integrity, Non-Repudiation and Confidentiality of files, BankBridge uses a highly secure encryption technique.

Compression
Standard ASCII files, when compressed, can result in a huge saving in bandwidth and reliability of transfer. BankBridge compress files by upto 95% using a sophisticated compression technology resulting in transfer times of minutes rather than hours.

FTP Transfer
BankBridge has built in FTP capabilities which allows a Commercial Bank to transfer files via Dial-Up Lines, Leased Lines, VSAT or the Internet.

Interface to C-CATS
BankBridge has a built in interface to C-CATS (the Cheque Clearing Automation System from Bankstar) which will allow banks to Clear Inter-Bank and Intra-Bank cheques electronically using a user friendly interface. C-CATS automatically creates clearing files which conform to the standards specified by The Central Bank.