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

"PCHC's move towards check imaging was a major paradigm shift which entailed re-design of existing processes and human resource training," said Gil Alvarez Lim, vice president of information technology, Philippine Clearing House Corporation. "The implementation of VSoft's imaging solutions significantly improved overall processing performance by approximately 65 percent. Operating efficiency was achieved with reduced manpower hours. This achievement translates to service satisfaction to the clearing member banks and cost savings for the corporation."

With VSoft's software, PCHC captures check images for its member institutions. The images are used to enhance proofing and balancing workflow efficiency as well as for archival and research purposes. The transformation of the nation-wide payment clearing network from paper to electronic clearing vastly improves customer service and national capital flow.

VSoft's image archive solution offers PCHC and its network of banks powerful search capabilities to quickly perform research on customer data, transaction data and item images. Bank operators can instantly research items and transactions from remote locations using the browser-based interface. Banks may also use check images received from PCHC to build their own in-house archives, allowing them to provide improved customer service to their customers with value-added services such as image statements, CD distribution and home banking.

"VSoft is proud to be the premier provider of imaging services for the Philippines," said Murthy Veeraghanta, president, VSoft Corporation. "Using VSoft solutions, PCHC will dramatically improve efficiencies in the country's clearing system, reducing operating costs and allowing them to offer new competitive servicesrvices for their bank customers."