Due to the advancement of information and computer technology in recent years, new electronic payment instruments are growing rapidly, resulting in the retrenchment of the long-established check clearing service. The growth rate of check clearing service, in fact, is appearing to become negative. However, check clearing and settlement service still plays an important role in day-to-day economic activities. As a result, TCH was established with the insistent mission of increasing the efficiency of the check clearing service, and developing more efficient and cost-effective payment instruments.

Further, because the economy is highly developed, and businesses and industries are increasing trading on credit, credit status information is getting important nowadays. Consequently, it is important to maintain a timely and accurate check-credit status information center so that the public can conveniently obtain prompt responses for their inquiries. Based on the vision stated above, the future direction of the TCH is to:

1. Develop a New Business Culture

After the reorganization as a juristic person, in order to take full responsibility for the profits and losses, we shall actively escalate the operational performance. We are committed to creating a customer-oriented business culture, to providing diversified services, and to enhancing the working efficiency so as to meet the needs of the public in general. Moreover, we shall concentrate the efforts on enhancing the quality of digital information processing, and strengthening the capability of system backup and recovery mechanisms so as to maintain the efficiency and effectiveness of check clearing and all other services.

2. Promote Automated Clearing House (ACH) Transaction Operations

The Automated Clearing House (ACH) transaction is a convenient, secure, efficient and reliable “inter-bank batch transaction operation system” for processing transactions on regular and batch schedule and to settle by netting. Because this service meets the most of the needs of industries and businesses, the processing volume grows rapidly and continuously. Furthermore, we are committed to improving the ACH operational mechanism and promote it though public media and channels. We are expecting the widespread usage of the ACH that private industries, schools and organizations will become familiar with the advantages of the service and adopt it as their primary transaction system.

3. Promote Check Image Capture and Delivery System

The TCH has implemented a check image capture and delivery system for participating financial institutions that they can receive electronic images, automatically verify the stamps or signatures of check drawers and examine the statutory items. We are looking forward to the adoption of all the clearing units so as to improve their processing efficiency and reduce the business operating cost.

4. Offer Bill for Collection Service for Financial Institutions

The TCH start to offer the service, Bill for Collection, for off-clearing units which is not participating for clearing, and/or for financial institutions which is manual processing for clearing. Our service can integrate with current Automated Clearing House (ACH), Returned Check Exchange (RCE) and MICR information systems. This service can not only shorten the duration of reconciling checking account but also improve the check processing efficiency between the authorizing financial institutions and drawer banks. It is believed that, reflecting both improving the operation efficiency and saving operating costs, financial institutions will welcome this service before long.

5. Promote Financial Collection System (FCS) Operations

TCH implements the FCS (Financial Collection System) in order to promote the operational efficiency of both paying in front of the financial institutions counters and by electronic payment channels, to reduce the related capital expenditure of financial institutions, and to simplify the contracting and authorizing procedures for publicly owned corporations and enterprises. The FCS platform is applicable to diversified payment items, and we believe that financial institutions will extensively use this system due to providing better services for customers and increasing the operational benefits.