/ucnf1kiyc_a is the misspelt word for UCN Number . If you’ve ever looked at a cheque, you may have noticed a unique code printed on it called the Unique Coded Number (UCN).
What is /ucnf1kiyc_a ?
It’s a term that’s getting more popular, especially in the banking industry, because it helps prevent cheque fraud. Today, we’ll delve into the UCN, taking a closer look at its features, benefits, and how it works.
So, what is the UCN? It’s basically an encrypted code number printed on the face of a cheque, which helps provide a robust and comprehensive cheque fraud prevention platform that survives the imaging process of the ICS (Image Clearing System). This means that even if a cheque is scanned or copied, the UCN remains visible and intact, making it easier for banks to identify and prevent fraudulent activity.
To minimize fraudulent activity, TALL, a company specializing in security printing, has partnered with technology experts such as DIA Europe to develop an automated cheque verification tool based on the UCN. This tool makes the process of identifying and preventing cheque fraud more efficient and effective.
How /ucnf1kiyc_a Works ?
Now you may be wondering, how does the UCN work exactly? It encrypts the individual Cheque Number, Sort Code, and Account Number into a simple alphanumeric string using a secure encryption algorithm printed in two designated positions on the cheque. This means that the UCN is unique to each cheque and can be easily verified by banks and other financial institutions.
While not all banks offer UCNs on their cheques, they can be applied to some banks’ personal cheques and Corporate ‘Special’ Book and Computer Cheques. By adding UCNs to cheques, banks can help prevent cheque fraud and provide a cost-effective solution for cheque-issuing corporate customers. So /ucnf1kiyc_a means UCN .
All in all, the UCN is an essential feature in modern cheque security, providing an added layer of protection against fraudulent activity. By encrypting key cheque details in a unique alphanumeric code, the UCN helps prevent cheque fraud and provides a secure and cost-effective solution for banks and their customers.
