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Payment Automation Processing Overview
Check recognition and data capture for banking and financial services
You can rely on Parascript to deliver exceptional read rates and the highest accuracy when solving the most challenging data capture tasks for banking and financial services.
The financial industry has experienced a drastic change in check and remittance processing due to the 2003 signing of the Check Clearing for the 21st Century Act (Check 21). Banks and financial institutions now must have systems and applications that can efficiently handle digital images of checks in:
- Check processing (proof-of-deposit, remittance, lockbox)
- Check quality and usability
- Fraud detection and prevention
- Payee match for positive pay
- Check archiving and other check applications
- Parascript® CheckPlus® - Automates check courtesy amount and legal amount recognition (CAR/LAR), check number, payee block and MICR lines, verifies signature presence and locates payor blocks.
- Parascript® CheckUsability® - Ensures that images meet the most rigid quality and usability assurance test.
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