Products – eFraud Solution

eFraud Solution by WesTech

eFraud Solution

The eFraud Solution is a unique offering that provides affordable and easy-to-use fraud protection to financial institutions, regardless of size. Designed using Parascript’s well known Fraud Prevention Software Development Kits (SDKs), which are currently in use by many large BPOs and system integrators delivering point solutions.

  • StockVerify combats counterfeit checks by verifying all major pre-printed elements on business and personal checks. This includes headers, check number, date, payee, dollar amount, dollar sign, memo, payor block and payor field.
  • SignatureVerify protects against signature forgery by using multiple verifiers to evaluate dozens of signature characteristics to differentiate between natural irregularities and true variances that are fraud indicators. It detects characteristics of a signature that are indistinguishable to the human eye for high fraud detection accuracy rates. The Signature Verification Module additionally accesses reference signatures and additional account information from the database to process transactions in real-time or batch mode and flags potentially fraudulent items.
  • CheckVerify identifies discrepancies on a check between the amounts entered in numbers (courtesy amount) and the amount written in the print line (legal amount), known as CAR/LAR mismatch. It also identifies alterations in the MICR line, payee name, check date and check number that may be indicative of fraud. It helps prevent duplicate check presentment by collecting data from the check and enables verification against previously presented items.

All these features may be applied as a single application or integrated to provide a single stream fraud protection suite. The WesTech solution also provides administrative functions, verification tools, export capabilities and many levels of reporting.

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Applications

Banking

The solution provides the capability to capture US origin (format) – Personal checks and Business checks. Checks are ingested as scanned images and the checks (front & back) are accepted as a batch (Watch Folder) transaction and via a Mobile Banking work-stream.

The Modules include:

  • CheckVerify, based on Parascript’s CheckPlus SDK, recognizes Amount, CAR (Courtesy Amount), LAR (Legal Amount), CAR/LAR mismatch, Date, MICR, Check No., Signature Presence, Payee Name (using a vocabulary) and Payor location (which is used to extract the Payor details).
  • StockVerify, based on Parascript’s CheckStock SDK, validates different check stock objects against client provided reference checks and combines multiple approaches to automatically locate and perform image comparison of preprinted objects like headers of blocks such as check number, date, payee, dollar sign, memo, payor block, payor bank on a suspect check versus corresponding blocks on a reference check stock. The module analyzes the elements’ content, font type, font size and font spacing as well as the placement of each block and relative distances between sets or pairs of blocks.
  • SignatureVerify, based on Parascript’s SignatureXpert SDK, uses Multiple Verification Engines to validate signatures against client provided reference signatures. SignatureVerify combines seven verifiers with distinct capabilities to analyze dozens of signature features. This delivers unprecedented verification accuracy by considering all informative data extracted from a signature image, including biometric characteristics restored from the still image. It also may use multiple references to differentiate between natural deviations typical of a genuine signature and deformation digressions that indicate fraud.

After the eFraud validation processes the check image, all extracted metadata and confidence values will be returned to the client Database for import into client’s line of business software. The data can also be exported as CSV, PDF or a Word document.

 

Income Reporting and Deposit Verification

The solution provides the capability to capture US origin (format) – Personal checks, Business checks, Government Checks along with Money Orders and provide a Daily Check Log based on the captured data. Checks are ingested as scanned images and the checks (front & back) are accepted as a batch (Watch Folder) transaction . This would invoke the CheckVerify workflow to recognize the selected components and delivers all the required metadata and the 

  • CheckVerify, based on Parascript’s CheckPlus SDK, recognizes Amount, CAR (Courtesy Amount), LAR (Legal Amount), CAR/LAR mismatch, Date, MICR, Check No., Signature Presence, Payee Name (using a vocabulary) and Payor location (which is used to extract the Payor details).
  • StockVerify, based on Parascript’s CheckStock SDK, validates different check stock objects against client provided reference checks and combines multiple approaches to automatically locate and perform image comparison of preprinted objects like headers of blocks such as check number, date, payee, dollar sign, memo, payor block, payor bank on a suspect check versus corresponding blocks on a reference check stock. The module analyzes the elements’ content, font type, font size and font spacing as well as the placement of each block and relative distances between sets or pairs of blocks.
  • SignatureVerify, based on Parascript’s SignatureXpert SDK, uses Multiple Verification Engines to validate signatures against client provided reference signatures. SignatureVerify combines seven verifiers with distinct capabilities to analyze dozens of signature features. This delivers unprecedented verification accuracy by considering all informative data extracted from a signature image, including biometric characteristics restored from the still image. It also may use multiple references to differentiate between natural deviations typical of a genuine signature and deformation digressions that indicate fraud.

After the eFraud validation processes the check image, all extracted metadata and confidence values will be returned to the client Database for import into client’s line of business software. The data can also be exported as CSV, PDF or a Word document.

 

Check Cashing Kiosk

This highly customized product will provide Check Cashing Kiosks with the real-time capability to capture and validate US origin (format) – Personal checks, Business checks, Deposit slips, Substitute checks (IRD), Traveler’s checks, Government Checks, Money Orders along with the End User’s ID. The End User submits a “check” image (along with there acceptable form of Identification), a REST – Web Service is triggered to capture the 

image of the check (as a blob) and deliver it to the eFraud Solution. In return, the eFraud Solution would pass an identifier back to the Web Service, as an acknowledgement. The check is data is extracted, validated and the End User’s ID is submitted for a visual signature verification.

The Modules include:

  • CheckVerify, based on Parascript’s CheckPlus SDK, recognizes Amount, CAR (Courtesy Amount), LAR (Legal Amount), CAR/LAR mismatch, Check Date, MICR, Check No., Signature Presence, Payee Name (using a vocabulary) and Payor location (which is used to extract the Payor details).

After the eFraud validation processes the check image, all extracted metadata and confidence values will be returned to the client Database for import into client’s line of business software. The data can also be exported to a database table, as an XML file, CSV or a text file.

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