DeepQuanty Artificial Intelligence Labs is proud to announce the launch of its first product - SnapChek - an Automatic Processing Engine, powered by Artificial Intelligence.
Designed and built by a patent pending process, SnapChek delivers above 90% extraction accuracy on any handwritten field such as date, name, amount in words and amount in figures and near 100% extraction accuracy in printed fields such as account number, MICR, and IFSC Code.
Mahadevan Jayaram, & Chief Revenue Officer “SnapChek banks in India a significant opportunity to enhance banking experience. Imagine the reduction in turnaround time for clearing.”
At DeepQuanty’s India Development Centre by a team of AI specialists in under four months. Says Sundar Kanniappan the CTO “Our AI team is proud to have solved a very old handwriting recognition problem in an unconventional fashion, which puts SnapChek way ahead in performance when compared to known and published benchmarks. The first of a slew of exciting products that will be launched in the next few months”.
Artificial Intelligence Labs set up just four months ago with the objective of applying Computer Vision and Artificial Intelligence to solve problems in the Banking, Retail, e-commerce, Insurance and Healthcare. The idea is to extract data from images such as application forms and apparel, with an ability to build further intelligence post extraction. For e.g., one can quickly sort apparel images into kinds, shapes, designs, and sizes. Or similarly, extract from and expense. The deeper idea is to immensely change the customer experience in the industry and also deliver cost advantages.