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.

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.

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:

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

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.

X9.37 DEPOSIT FILE CREATION

eFraud360 is a product customized to capture and validate US origin (format) – Personal checks, Business checks, Deposit Slip, Substitute checks (IRD), Traveler’s checks, Government Checks, Money Orders and create an Electronic Deposit File which conforms to the X9.37 ICL Specification.

The End User submits “check” images (along with a Deposit Slip). The check is data is extracted, validated and the extracted data is submitted for file creation. The resultant file is made available for the client to submit electronically to their Bank for deposit.

The Modules include:

Parascript’s new CheckXpert.AI SDK, recognizes Amount, CAR (Courtesy Amount), LAR (Legal Amount), CAR/LAR mismatch and MICR. After the eFraud360 processes the check images and Validation, if required, a X9.37 compliant file is created, a Verification Report including all extracted metadata with check images and a copy of the X9.37 file will be returned to the client for downstream use in client’s line of business software or archival. The data can also be exported to a database table, as an XML file, CSV or a text file.

After the eFraud360 validation processes the check images, the X9.37 compliant file is created, a Verification Report including all extracted metadata with check images will be returned to the client downstream use in client’s line of business software or archival. The data can also be exported to a database table, as an XML file, CSV or a text file.

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 their 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:

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.