Process Payments in Seconds
Using state-of-the-art technology based upon machine learning algorithms including deep learning, payments can be processed in seconds, providing immediate feedback to the customer. Since Parascript enables automation rates as high as 99%, banks can automatically verify payment amounts against customer-supplied data in order to forego the traditional wait times for deposit availability.
Parascript also provides capabilities to analyze the check beyond just amount information to include key factors important in remote deposit including presence of date and backside endorsement. If data is missing, the customer can be notified during the transaction, not after the fact, resulting in enhanced customer experience.