Parascript upgrades cheque recognition software

Source: Parascript

Parascript, LLC, the image analysis and pattern recognition technology provider, today announced the latest release of CheckPlus, its flagship check recognition and verification product used by leading payment automation solution providers.

CheckPlus 6.0 automatically processes the full stream of documents for proof-of-deposit (POD) and remittance applications with higher read rates and accuracy. Its new .Net application programming interface (API) enables fast, easy, and cost-effective integration with customer's applications.

Top functionalities of the new software release include CAR/LAR mismatch detection and keyword search within the payee line. CheckPlus 6.0 accurately reads the check amount written in numbers (courtesy amount) and letters (legal amount), and detects if the results are different to prevent potential fraud losses. The new keyword search function makes it easier to find required documents among check images, and enables integrators to build classification, data mining, and reporting capabilities that increase efficiency of operations and customer service in financial institutions.

CheckPlus 6.0 also includes a significantly improved capability to detect random and skilled forgeries on check and Image Replacement Documents (IRDs).

"Since 1996 Parascript has been committed to leading the way with technology advancements that offer substantial benefits to banks, financial institutions, and service providers," said Mike Fenton, vice president of sales and operations for Parascript. "Improvements in CheckPlus 6.0 will further enhance our partners' product offerings to their customers."

"As a user of Parascript's products for over 10 years, we look forward to integrating this latest release of CheckPlus 6.0 with our applications. These important technology enhancements are part of our ongoing commitment to providing proven, high-quality solutions that meet financial institutions' greatest needs in check processing and fraud prevention," said Dick Wheeler, director of global product management, Payment and Imaging solutions, for NCR Corporation.

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