VSoft Corporation, a global information and technology provider of financial solutions, and New York-based A2iA (Artificial Intelligence & Image Analysis) Corporation, announce the integration of VSoft's Branch Item Capture and A2iA CheckReader.
The integrated solution captures check images at the point of presentment in the branch, which automatically reads check and deposit slip amounts to reduce the labor-intensive balancing process at the branch level, creating a more efficient and automated work environment.
The integrated product better prepares financial institutions for the Check 21 processing environment by using A2iA CheckReader to monitor image quality and detect missing compulsory fields such as courtesy and legal amounts, signature, payee name, payee endorsement and date. VSoft's Branch Item Capture enables exchange of the check images and increases operational efficiencies, saving time and money.
"We are extremely pleased to have VSoft as an integrator of our world-leading recognition technology," said Jean-Louis Fages, president and CEO, A2iA Corp. "A2iA CheckReader's advanced full-check recognition capabilities, tied with VSoft's Branch Item Capture component, automates image and information capture from the various handwritten fields of checks. This will speed transactions and provide more accurate customer and transaction data, making check processing more efficient than ever."
VSoft's Branch Item Capture component allows the capture of checks and creation of images in-house, rather than sending batches of paper checks to a central processing center for imaging. Imaging checks at the point of presentment increases back-office productivity and expedites proof-of-deposit processing. VSoft's Branch Item Capture is designed for distributed high-volume processing at remote locations.
A2iA CheckReader is a leading recognition technology, which automatically recognizes whole words - whether cursive or machine print - in addition to character-by-character. It automatically reads and combines natural, freeform cursive handwritten and machine-printed documents, including business and personal checks, deposit slips, cash-in and cash-out documents. A2iA CheckReader is able to read nearly every field on a check, including CAR and LAR amounts, address of the payer, date of the check, name of the payee and code line. It also validates the presence of a signature or endorsement.
"Financial institutions preparing for Check 21 must carefully consider check image usability and quality before making a significant technology investment decision," said Murthy Veeraghanta, president, VSoft Corporation. "A2iA CheckReader is designed for accurate capture with a small footprint making it the ideal CAR/LAR technology for a point of presentment installation. With A2iA, product quality and performance consistently exceed customer expectations. Our integrated solution will offer customers the best of both companies."
As part of the agreement, VSoft will sell the integrated product to their customers. VSoft works with more than 180 financial institutions in the United States including credit unions, community banks and Top Tier financial institutions. A2iA CheckReader is used by some of the leading financial, insurance and communications companies in the world including Verizon, JP Morgan Chase, Barclays Bank, British Telecom, France Telecom, America's ACE Cash Express, National Bank of Canada, Northern Trust, Alliance Data Services, GE Card Services, HSBC, Comerica, Allied Insurance and Federal Reserve Bank of Philadelphia.