Electronic Check Clearing (ECC) system at NCHL
Nepal Clearing House Limited(NCHL), a subsidiary of the Central Bank of Nepal, has implemented an Electronic Check Clearing (ECC) system in the Nepal. The introduction of ECC has drastically reduced the time required to clear the checks from a few days to minutes. Currently, 140 banks and financial institutions’ 1200 branches across the country use our system. Checks are cleared at the branch level itself. Integrated Solutions partnered with ProgressSoft Corporation, Jordan, for the supply and implementation of ECC solution in Nepal. The project was completed within a year, well ahead of the project deadline. Currently, we are exploring other opportunities to introduce other payment solutions at NCHL such as, Electronic Funds Transfer (EFT) and Automated Clearing House (ACH).