Parascript has produced a suite of products which detects counterfeit documents, signature forgery, content alteration, duplicate presentment, CAR/LAR mismatch and payee match discrepancies. Reliable automation is key to mitigate losses, protect assets and improve customer service and loyalty. Parascript automation software for compliance and fraud prevention solutions can be deployed in both front or back-office environments and enable financial institutions to provide more comprehensive automation at lower costs than ever. Using state-of-the-art technology based on machine learning algorithms including deep learning, payments can be processed in seconds, providing immediate feedback to the customer. Since Parascript enables high automation rates, banks can automatically verify payment amounts against customer-supplied data to forego the traditional wait times for deposit availability.
CheckXpert.AI® represents the latest advancements of deep learning which have been applied to the challenge of payment processing. It offers superior check recognition with the highest read rates reducing costs by more than 80% over other available check recognition solutions. As a result, CheckXpert.AI reads check amounts and MICR with better than human accuracy and speed, which enables banks to provide real-time approval of deposits regardless of channel and without the significant costs of manual verification. By leveraging Parascript’s proprietary deep learning algorithms, CheckXpert.AI processes checks in a significantly smarter, more human-like way. CheckXpert.AI takes care of the full stream of documents for Proof of Deposit (POD) and Remittance applications.
Users benefit from the Highest Read Rates in the market, today. In addition, CheckXpert.AI also offers the industry’s highest recognition rates and accuracy with a dramatic increase in courtesy and legal amount recognition rates. Our solution with its industry-leading performance can reduce the cost of data entry by more than 80% compared to other solutions available on the market today.
The newest member of the family of products automatically locates and verifies signatures on a broader range of documents resulting in significant improvements. Providing Signature Verification for Fraud Protection CheckXpert.AI's optional signature verification module offers advanced functionality that authenticates signatures and protects against signature fraud with high accuracy rates against all types of forgery.
As an integrated SDK, SignatureXpert.AI® provides signature verification for unprecedented accuracy. It enables signature authentication in applications including check processing, loan origination, voting by mail, petitions and countless other uses where it is crucial to detect signature fraud. SignatureXpert provides the highest degree of accuracy for any document type that requires signature validation.
Using SignatureXpert.AI’s advanced Signature Analysis functionality combines multiple verifiers to analyze dozens of signature features and can use multiple references to differentiate between natural anomalies and true irregularities that indicate fraud.
Advanced image preprocessing capabilities ensure a clean image. Backgrounds and all type of noise are eliminated from check images, IRDs, and signature snippets cut from documents with inconsistent layouts. SignatureXpert.AI supports American-style signatures, as well as complex European-style signatures, enabling one software package to deliver universal authentication in a single stream.