CheckXpert.AI International 5.2 France 2.0 from Parascript now includes the ability to read and verify payee line and retrieve partial answers on French checks.
July 19, 2024, Longmont, CO – Parascript, a software company delivering high-performing automation for nearly 30 years, has released the latest version of their check recognition product, CheckXpert.AI International 5.2 France 2.0.
The CheckXpert.AI product line enables the automation of payment processing by reading, extracting, and verifying check data. By reading and extracting handwritten and machine-printed text with better-than-human speed and accuracy, CheckXpert.AI enhances finance operation efficiencies while adding security and reliability to check processing.
“The capabilities added to CheckXpert.AI International France have increased reading accuracy substantially. We are eager to show our clients how to use this version to support efforts to reduce processing time through increased accuracy and reduction of manual labor,” says the Director of Sales for EMEA & Latin America at Parascript.
CheckXpert.AI International France adds advanced payee line recognition and verification
The highlight of this release is the payee line recognition and verification functionality. This version of CheckXpert.AI International France provides performance improvements with advanced payee line recognition and verification. This functionality reads personal and business checks no matter the availability of vocabulary. Once data is extracted, it verifies the payee line contents on a check against a reference list of entries.
CheckXpert.AI International France compares payee string and handwriting styles
CheckXpert.AI International France detects different handwriting styles within the payee string. Mismatched handwriting in the payee string is evidence of potential check alteration. Therefore, this feature helps detect and prevent common check fraud schemes such as checkwashing.
These enhancements underscore Parascript’s commitment to providing innovative solutions for secure and reliable financial transactions.
About Parascript
Parascript software, driven by data science and powered by machine learning, configures and optimizes itself to automate simple and complex document-oriented tasks such as detecting counterfeit checks, signature forgery, check content alteration, and other discrepancies. Parascript’s automated check fraud solutions enable banks to identify suspect checks in less time to increase productivity for back and front office applications.
Every year, over 100 billion documents in banking, government, and insurance are processed by Parascript software, saving companies over $1 billion annually. Parascript check-fraud prevention solutions help identify and prevent check fraud for banks and financial institutions in bank teller, ATM, RDC, and inter-bank services.