Parascript’s check truncation solutions enable users to efficiently process the full stream of documents for Proof of Deposit (POD) and remittance including traditional items like business and personal checks, cash tickets, deposit slips and money orders, as well as the newer Image Replacement Documents (IRDs). Parascript’s software enables banks and financial institutions to capitalize on opportunities created by check truncation and maximize return on imaging and data capture investments.
Offers an efficient solution for Proof of Deposit (POD), remittance, lockbox applications or any application that processes sets of multiple types of documents.
Image Quality and Integrity
Validates image integrity, quality and usability of check images to minimize risk and costs associated with truncating and paying banks.
Verifies signature authenticity and identifies forgeries.. Provides a solution for insurance companies, banks and other financial and government institutions for applications such as check fraud detection, initial approval of ATM check cashing, insuring check negotiability and many others.
Data Mining of Payee Line
Recognizes check payee-line information that creates enhanced opportunities for data mining. Data from the payee line can be used for marketing applications, such as targeted marketing to bank customers and non-bank competitors. Provides accurate, customer-specific data for use in Customer Relationship Management (CRM), as well as cross-selling and up-selling initiatives to promote more banking products such as loan or mortgage services to a bank’s customers.
More Than Checks
Processes a real-life mixed stream of document regardless of formats, backgrounds and noise, styles of writing, and text quality. In addition to checks, the solution processes forms with variable alpha, alpha numeric, numeric, date, amount, and checkbox fields. For example, the solution can process cash tickets, and deposit slips, read numeric code line on ATM envelopes, recognize fields on remittance coupons, and process applications for loans, credit cards, mortgages, check reorders and many others. It also processes applications that deal with pairs of documents, like passport applications requiring recognition of a completed form and a payment check or money order.