27 May 2018
Visit aciworldwide.webex.com

Central Bank of Jordan live with ProgressSoft automatic signature verification system

09 December 2009  |  2467 views  |  0 Source: ProgressSoft

ProgressSoft, the leading provider of real-time payments and imaging solutions started running live its Automatic Signature Verification Solution, PS-ASV, in the Central Bank of Jordan (CBJ).

While providing a sophisticated, automatic means of verifying signatures, this solution backbones ProgressSoft's Electronic Image-based Check Clearing Solution (PS-ECC), which has successfully electronified the check clearing process across the country since 2007.

The implementation of this project has been divided into two phases with the first involving the installation of ProgressSoft's Signature Verification & Management Solution (PS-SIG) and the second phase concluding the deployment of the automatic solution, PS-ASV, which was completed within 30 working days and handed off on the 15th of November, 2009. Mr Sameer Alquza, Project Manager, Central Bank of Jordan, reflected CBJ's recognition of ProgressSoft's substantial efforts in concluding this project and noted that those efforts have been deployed in multiple projects as well; "we consider ProgressSoft an important strategic partner for us," he affirmed.

By operating the two smoothly integrated signature verification solutions, bank employees can automatically verify signatures retrieved from the electronic check clearing system, PS-ECC, against reference signatures that are maintained in the PS-SIG database. "The major benefit from deploying this solution at CBJ is to replace the current manual signature verification process with the new automatic one, which yields a faster and more reliable process and of course minimizes the cost of verifying the signatures," explained Mr. Ali Fada, CTO, ProgressSoft Corporation. PS-ASV exploits an array of advanced technologies such as artificial intelligence engines, analytical and geometrical analysis, and pattern recognition, and is hence reliable enough to detect any forged signatures.

"The advanced version of PS-ASV offers the Central Bank of Jordan a new approach to solving issues that were faced in the older versions," said Alquza, "not to mention the speed of the implementation that met our requirements as well as providing detailed reports for the concerned supervision parties". He also affirmed that "PS-ASV has decreased the margin of error in signature verification and has increased the speed of the process by automating the signature verification for checks extracted from the Electronic Check Clearing System."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.ebaday.comVisit http://go.jumio.com/finextraAdVisit iliad-solutions.com/

Who is commenting?

Top topics

Most viewed Most shared
satelliteAnt Financial provides tech for China Ever...
29628 views comments | 3 tweets | 2 linkedin
Digital banking transformation creating new systemic risksDigital banking transformation creating ne...
8981 views comments | 18 tweets | 26 linkedin
MUFG to roll out blockchain payment network next yearMUFG to roll out blockchain payment networ...
7647 views comments | 13 tweets | 13 linkedin
There are some things you just can't do with an appThere are some things you just can't do wi...
6939 views comments | 9 tweets | 15 linkedin

Featured job

Basic c. EUR 120K OTE c. EUR 250K plus full benefi...
Paris (preferred) or London

Find your next job