Fraud Prevention for Branch and Remote Deposit
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. When used for online verification, it analyzes pressure, speed and tension. Multiple software engines work together to produce reliable verification output. Human verification is limited by shortcomings that include level of expertise, fatigue, mood and working conditions with diminished accuracy over time, making more mistakes at the end of a day or shift than at the beginning. Automated signature verification can verify much faster, work 24/7 and produce consistent results at a much lower cost.