A2iA upgrades cheque recognition toolkit
15 January 2008 | 1867 views | 0
A2iA, a leading provider of tools for document analysis and handwritten data extraction, today announced the release of version 3.9 of its comprehensive check recognition toolkit, A2iA CheckReader.
The expanded functionality of A2iA CheckReader 3.9 makes a new generation of check-processing software possible with new levels of automation and new, innovative features.
A2iA CheckReader 3.9 boasts higher recognition rates, improved check image quality and image usability analysis tools, and readiness for the Canadian Check Truncation requirements. A2iA has also completed its regional adaptations of the internal engines, resulting in support for two major check-processing markets, India and South Africa.
A2iA CheckReader 3.9 achieves higher recognition rates than ever before and improves its ability to correctly locate and extract key data such as: payee name, date, and phone numbers on checks and money orders.
This release uses the newly expanded capabilities of A2iA's character and word recognition engines (OCR, ICR, IWR) to analyze and extract additional information from check images. The results will step-up the fight against check fraud, bring additional customer relationship management data, and automate the classification, reconciling and recording of customers' everyday payments from all types of paper-based payments.
A2iA- a profitable, privately held company, runs one of the world's largest private research centers dedicated to finding ways to extract information from handwritten paper document. A2iA continues to re-invest its revenue into research that improves its core recognition engines and responds to a changing environment.
Remittance and check-processing are on the move - from traditional, centralized, paper-based operations toward today's scattered, quick-paced, self-service, image-centric processing. Image-enabled ATM machines and "remote deposit applications," are using "average Joe" bank customers to scan and image checks. A check scanned by a well-trained, check-processing specialist is becoming extremely rare.
Bank customers, having mastered the scanning, want more results for their labors. They demand and are getting new features such as automatic-accounts-receivable-file-matching, automatic-payment-category-classification and sophisticated and personalized fraud detection as part of the payoff for processing their check deposits for their bank. A2iA CheckReader 3.9 responds to these market developments with improved tools to ensure higher quality check images, accurate payer and payee name information, and expanded check-stock and fraud-detection features.
"We have been actively involved in bringing what's being called the 'second-generation' remote deposit applications to the US market. These distributed-capture and processing applications are now focused on the end-users rather than only on what the financial institutions want," said Courtney Rand, A2iA Director of Sales and Marketing, North America. "A2iA will continue to be a leader by improving its recognition engines, and by being proactive in its development approach. A third-generation is already appearing, which is focused on more automation and flexibility for end-users and the consumer market."
A2iA CheckReader 3.9's improved check-image quality and usability analysis addresses the needs of the new end-users rather than just those of the financial institutions. Invalidity detectors are implemented for the back of US checks, plus tools such as a comparison of payer name image with the reference check stock, allow checks to be processed at the point-of-presentment as well as anywhere that a desktop or consumer scanner is available with fewer rejects, fewer unread checks, and more embedded functionality.
A2iA CheckReader Expands into Fast-Growing Check-Processing Markets
The Canadian Check Truncation and Electronic Check Presentment (TECP) is targeted to begin in the latter part of 2008 and be completed by the end of 2009. A2iA CheckReader 3.9 is already prepared and provides check image usability analysis for Canadian checks with CAR/LAR difference detection, MICR line, payee name and address usability metrics.
A2iA has also added support for two major check-processing markets, India and South Africa. A2iA CheckReader 3.9 can now automatically find the written data in the Indian and South African check styles, as A2iA adapted its proprietary OCR, ICR and IWR recognition engines to read these unique handwriting styles. A2iA currently supports 22 country specific check locales in six languages.
A2iA CheckReader is available to software developers for integration into front- and back-end bank operations software, image-enabled ATMs for check acceptance, branch or distributed capture, remittance, check cashing, accounting, online banking, point-of-sale document management, and proof operations. Precision-engineered to work together to provide extremely high read-rates and unparalleled accuracy, A2iA's recognition engines also provide information about check image quality, usability and negotiability in one simple call.