PCHC is a private corporation owned by commercial banks, which are members of the Bankers Association of the Philippines. PCHC is the exclusive check clearing service provider servicing all banks in the Philippines.

The VSoft implementation will allow PCHC to provide image capture and exchange of check images, ultimately integrating the country into a single clearing region with improvement in the overall clearing system efficiency. The VSoft Capture solution based on a relational database model, combines full-featured, image-enabled data capture functions into an efficient, flexible system.

The Archive solution offers PCHC and its network of banks powerful search capabilities to quickly perform research on clearing transaction data and item images. Bank operators can instantly research items and images from remote locations using the browser-based interface from the central archive. Banks may also use the check images received daily from PCHC to build their own in-house archive, allowing them to provide value added services to their customers such as Image Statements Printing, Check Image Distribution and Home Banking.

"Online access to archived check images facilitates faster processing of dishonored clearing items that will improve funds availability to depositors nationwide," said Francisco V. Yap, Jr, president, Philippine Clearing House Corporation.

VSoft's Returns solution is a flexible, image-enabled application for processing outgoing return items. The system identifies the bank of first deposit for each inward clearing item and presents the matched information, along with the image, to the drawee bank operator for on-line return confirmation. Clearing banks may also implement an automated signature verification system or visual verification by comparing the image with the original signature card to determine authenticity of the client signature.

"This combination of VSoft solutions provides PCHC with a comprehensive image-based cleariearearing system. Checks presented by the banks for clearing will be converted to a digitally signed image from the point of capture all the way through to the returns process," said Murthy Veeraghanta, president, VSoft Corporation. "Using VSoft solutions for image exchange will allow Philippine banks to reduce operating costs, dramatically improve efficiencies and offer new, competitive services for bank customers."