Automation SDKs Power Real-Time Customer Experience
The ability to enable anywhere, real-time customer experiences for any type of banking need is the critical benchmark for leading financial services firms. Customers expect the ability to initiate and manage their banking relationships with the same level of capability as a branch visit, but without the hassle. High expectations include interactions that involve documents including checks, IDs and other needed information where potential headaches can arise through the need for customers to identify documents or perform data entry. These processes can last for days if bank staff are required to review and verify the data.
Enable real-time transactions with your customers through Parascript document automation solutions that ensure fast and automated verification of key document-based information without the traditional wait. Customers can take photos and upload necessary information without any data entry hassle and receive near-instant verification of submitted data in seconds using Parascript software. It is no longer necessary for bank staff to manually confirm receipt, review or verify all the data. Use Parascript check automation software to enable instant verification of amount and date so that rapid same-hour deposits are routine.
Parascript also supports compliance and risk reduction through our automation of complex document analysis.
Regardless of channel—such as remote deposit, teller, Web, ATM or mobile device—Parascript technologies help you enable the 21st century customer experience.
Simultaneously, Parascript document automation increases efficiency, improves your data quality, helps prevent fraud and ensures compliance.
Check Data Extraction
Enable real-time deposits regardless of where they occur. Parascript offers a comprehensive SDK that automatically classifies checks in mixed streams and includes support for personal checks, business checks, deposit slips, substitute checks (IRDs), money orders and travelers’ checks. High accuracy data results are provided, despite common challenges such as different formats with varying backgrounds and noise, as well as highly diverse styles of handwriting and text quality.
Catch potential fraud issues where they occur and in real-time without the typical customer annoyance. Banks need to remain vigilant regarding fraud, but these efforts cannot adversely impact the customer experience.
Parascript Fraud Prevention SDKs detect counterfeit documents, signature forgery, content alteration, duplicate presentment and payee match discrepancies in real-time to catch problems as they occur.
Parascript automated fraud prevention software can be deployed within core banking systems 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. Parascript Fraud Prevention includes payee match, restrictive endorsement and signature verification.
Know Your Customer | Compliance
Automation from document identification to location, extraction and validation of key data helps streamline compliance, reduce workload and ensure you meet KYC requirements while giving you a more accurate assessment of risk.
Parascript technologies turn a manual, error-prone, expensive and slow process into a real-time analysis of submitted documentation. From automated document identification to location, extraction and validation of key data such as name and address, Parascript helps streamline and automate key components of KYC compliance.
The onboarding experience is one of the most sensitive to customer expectations. The ability to streamline document submission and receive real-time responses is paramount to success.
Parascript supports interactive onboarding and servicing by accurately identifying submitted documents and extracting quality data for opening an account or initiating a new request via a smartphone or through any other channel. In the background, Parascript software provides sophisticated document analysis. It automatically classifies, sorts, extracts and validates the necessary information in order to reduce “transaction frictions” such as data input requirements and delays in verifying receipt.
Mortgage Document Automation
Achieve high levels of “touchless automation” with Parascript software. It rapidly processes large PDFs containing hundreds of discrete documents, which are automatically separated and processed independently. Signatures are automatically located and verified. Parascript software also handles complex visual tasks such as notary stamp location and parsing.
Parascript Earns KMWorld Recognition for Knowledge Management
KMWorld honors Parascript in 100 Companies That Matter in Knowledge Management for sixth consecutive year.
“Check fraud is now rampant among Millennials!” Who would have thought?
Check fraud is now rampant among millennials when checks remain a huge part of the payments landscape – the case for investing in check fraud detection software.
Mission to build the ultimate mortgage intelligent automation plan
Mortgage Lenders, hoping to surmount lending volatility and keep up with regulatory changes, are turning to new intelligent automation initiatives. Join National Mortgage News, TSP Consulting & Parascript as they discuss these initiatives.