Check & document capture designed for enterprise lockbox services. Built with accuracy and efficiency at their core.
Customers outsource their lockbox needs to minimize investment and leverage the expertise found in banking services providers. You provide fast and accurate capture, classification, and payment processing despite the variety of documents in standard lockbox workflows.
But lockbox processing faces the challenge of countless unique documents to classify. Document classification with low accuracy will undermine efficiencies and create more work for you team. The result? The loss of potential savings from automation.
Ensure your lockbox services exceed customer expectations with industry-leading classification and data capture from Parascript.
Unlock efficiency with accurate document classification and data capture
Parascript’s advanced software leverages AI-powered handwriting recognition and pattern analysis algorithms to identify and verify handwritten information with the highest possible accuracy.
Whether you’re looking to add lockbox services to your service portfolio, or you’re looking to improve your current system, Parascript can provide the accuracy necessary to elevate and expand your business.
Embed payment processing into your lockbox workflow
Customers demand efficient processing when handling their payments. Even waiting hours for a deposit to clear is no longer acceptable. Immediacy and accuracy are necessary to stay competitive in the business solutions market.
Parascript products excel in speed and accuracy to locate and extract critical information for lockbox operations. Parascript products embedded into your system can revolutionize your payment processing.
Automate any process dependent on data capture from documents. Any Process. Any Document. Any Source.
Check Data Extraction
Enable real-time deposits regardless of where they occur. Parascript offers a comprehensive SDK that automatically classifies checks in mixed streams and includes support for personal checks, business checks, deposit slips, substitute checks (IRDs), money orders and travelers’ checks. High accuracy data results are provided, despite common challenges such as different formats with varying backgrounds and noise, as well as highly diverse styles of handwriting and text quality.
Mobile Onboarding
The onboarding experience is one of the most sensitive to customer expectations. The ability to streamline document submission and receive real-time responses is paramount to success.
Parascript supports interactive onboarding and servicing by accurately identifying submitted documents and extracting quality data for opening an account or initiating a new request via a smartphone or through any other channel. In the background, Parascript software provides sophisticated document analysis. It automatically classifies, sorts, extracts and validates the necessary information in order to reduce “transaction frictions” such as data input requirements and delays in verifying receipt.
Document Classification
Envelopes, receipts, notes, and checks. All of this and more factor into document workflows. At high volumes where accuracy is a make-or-break factor, high-accuracy document identification is a vital first step in a document workflow. Identifying document types correctly and on the first pass is the first step to straight-through processing.
Mortgage Automation
The average mortgage loan document contains 250 pages, with no easy way to access the data on those pages.
Automating document management allows for fast and easy access to relevant information.
Speed up loan approval with mortgage document automation and unlock improved customer satisfaction with Parascript.