truncation


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Related to truncation: truncation error

truncation

[trəŋ′kā·shən]
(mathematics)
Approximating the sum of an infinite series by the sum of a finite number of its terms.
References in periodicals archive ?
Pramod Kumar, Business Head APAC - Newgen Software said, "Newgen CTS offering and integrated payment solutions are aimed at facilitating the introduction of Cheque Truncation mandate in Philippines and creating a seamlessly unified payment hub.
NCR Corporation (NYSE: NCR), a provider of consumer transaction technologies, and National Payments Corporation of India (NPCI) announced on Wednesday the successful completion of the landmark Cheque Truncation System (CTS) project in India.
This process, called truncation, is the fastest and most secure mode for clearing cheques.
Check truncation has not yet resulted in overall gains in economic efficiency for the Federal Reserve or for a sample of banks while Federal Reserve and bank officials expect efficiencies in the future.
Virtual electronic check truncation is the same as electronic check truncation, but without the use of an expensive and bulky check reader.
The new law, which takes effect a year from its enactment, facilitates check truncation by creating a new negotiable instrument called a substitute check--a paper printout of a digital image.
Onsite staff that have traditionally spent large amounts of time keying, preparing and delivering check deposits will significantly benefit from the Rheo-based check truncation service.
Comparing the approximations on different grids also provides computable estimates of the truncation error, which can then be used in adaptive grid refinement algorithms or in extrapolation to higher-order accuracy ([tau]-extrapolation).
The billing merchant or service provider notifies the customer of the truncation service and obtains authorization for use.
In contrast, the standard model of a circumstellar disk, which assumes that a star develops in isolation rather than in a crowded cluster, predicts no such truncation.
We look forward to gaining firsthand knowledge from Efma members on banking trends, issues, and opportunities while also providing them with access to Panini's market leading experience and insights related to global check truncation.
Newgen Software, a leading global provider of Business Process Management (BPM), Enterprise Content Management (ECM), Customer Communication Management (CCM), and Adaptive Case Management (ACM) solutions, is organizing a conference on "Check Truncation System (CTS)" in Manila, Philippines on February 4, 2015 with a focus on 'Check Truncation-Redefining Payment Systems Landscape.