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

The TCH has always taken serving the public duty as the main objective; however, our institution also needs to take financial balance into consideration and actively escalate operation efficiency after the reorganization as a juristic person. 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 the eCheck Service

To think over both security and convenience, the eCheck service, besides the advantages of the traditional paper checks, can fully integrate with e-commerce. Further, none of the other payment instruments is superior to the eCheck system in terms of legal protection. Looking ahead, if taking costs and efficiency into consideration, we expect the businesses and industries would cheerfully utilize this novel payment instrument. And, the eCheck system will play a pivot role in the financial flow of e-commerce in the recent future.

3. 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.

4. Plan To Implement Check Image Capture And Delivery System

The TCH also plan to implement a check image capture and delivery system for participating financial institutions that they can 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.

5. 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.