Financial systems have come a long way from what they used to be. From keeping cash on oneself towards saving in banks to now digitizing all the processes. We can be certain of one thing. The modernization has not only made it easier for the users but also a lot safer. When one thinks of current financial systems, usually banks are at the top of the list with how things are carried out nowadays. The introduction of press to pay and linking your mobile with your bank accounts was revolutionary and caught on pretty fast but technology is always evolving and so too is the user’s demand for making life more comfortable. Within the banking system, a pretty common occurrence is receiving and sending of cheques. This paper form of money is quite outdated but still widely followed in the global business sphere but can cause a lot of issues with how it is handled. With the difficulty in verifying the cheques, high costs associated with handling them and running the risk of fraudulent cheques.
Work on Blockchain
A one in all White Labelled Mobile App for all operating systems where the consumer can verify the authenticity of a cheque and greatly reduce the chance of the cheque in question ‘bouncing’ on the go.
Our State of the art Digiledge Cheque verification system eliminates the risk of fraudulent cheques and highly reduces the possibility of a cheque bouncing with its augment existing bank cheque handling system.
The software would provide full privacy by eliminating the need for a central system such as banks to authenticate the validity of the cheque, thereby saving cost and time. What used to take days will now be done within minutes.
Being a truly Decentralized Cheque Verification and Validation system created for the purpose of assisting banks improve their processes without having to compromise on the privacy of users or the need to rely on one central authority.
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Dubai, United Arab Emirates
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