Fraud Prevention for Banking and Finance
Parascript fraud prevention solutions help identify and prevent fraud for financial institutions regardless of channel, such as remote deposit, teller, Web, ATM, or mobile device. The solutions detect counterfeit documents, signature forgery, content alteration, duplicate presentment and payee match discrepancies. Timely fraud prevention is key to mitigate losses, protect assets, and improve customer service and loyalty. Parascript automated fraud solutions can be deployed in both front or back office environments and enable financial institutions to identify more suspect transactions in much less time, inspect all transactions rather than just high value amounts, and reduce false positives through improved accuracy rates.
Protects and Verifies Signatures
- Protects against signature forgery. By using multiple verifiers, Parascript software evaluates dozens of signature characteristics to differentiate between natural irregularities and true variances that are fraud indicators. It identifies missing signatures and supports business rules such as dual signature requirements for checks and remote deposits above specified amounts.
- Provides effective, accurate results 24/7. Detects characteristics of a signature that are indistinguishable to the human eye for high fraud detection accuracy rates. Analyzes typical signature features such as comparison of geometric shapes, fragments, and trajectories. Automated signature verification can verify much faster, work 24/7 and produce consistent results at a much lower cost.