CheckXpert.AI Represents the Latest Advancements in AI and Deep Learning Applied to Payment Processing

CheckXpert.AI offers superior check recognition with the highest read rates reducing costs by more than 80% over other available check recognition solutions. As a result, CheckXpert.AI reads check amounts and MICR with better than human accuracy and speed, which enables banks to provide real-time approval of deposits regardless of channel and without the significant costs of manual verification. By leveraging Parascript’s proprietary deep learning algorithms, CheckXpert.AI processes checks in a significantly smarter, more human-like way. CheckXpert.AI takes care of the full stream of documents for Proof of Deposit (POD) and Remittance applications.

Automatically Recognize & Extract Data

Parascript CheckXpert.AI automatically locates, recognizes and extracts data

  • Superior check amount recognition based on courtesy and legal amount analysis
  • CAR/LAR Mismatch Detection
  • Check date recognition
  • Check number recognition

  • MICR line recognition on bank documents produces results on field, sub-fields and character level
  • Payee line recognition and verification
  • Payer block recognition
  • Signature presence detection

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Experience True Straight Through Processing

CheckXpert.AI provides the full stream of documents for Proof of Deposit (POD) and Remittance applications. This includes:

  • Business checks
  • Personal checks
  • Internal checks
  • Deposit slips
  • Money Orders
  • Traveler Checks
  • Image Replacement Documents (IRDs)
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Benefit from the Highest Read Rates

Parascript CheckXpert.AI offers the industry’s highest recognition rates and accuracy with a dramatic increase in courtesy and legal amount recognition rates. Our solution with its industry-leading performance can reduce the cost of data entry by more than 80% compared to other solutions available on the market today.

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Available for Other Countries

CheckXpert.AI is available for the United States, France, Brazil, and the UK offering better than human accuracy and speed. CheckXpert.AI International France supports high read rates for amount and also provides extraction for payor block and date. Additionally, it provides key compliance features such as CAR/LAR mismatch detection, presence detection of payee and backside endorsement, as well as validation of date and payer.

 

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Parascript Strategic White Paper

Check and Signature Fraud Prevention: Challenges and Solutions

Checks remain a primary means of fulfilling financial obligations. Technological advances coupled with increased availability at decreased costs have enabled criminals to engage in illegal and/or deceptive practices that include signature forgery, counterfeit checks and physical alteration of paper checks. However, organizations can benefit from a variety of efficient fraud prevention solutions that are cost effective for both large banks and smaller organizations.

Since check fraud results in huge losses, there is the increasing the need to pursue improved check fraud detection methods, including signature verification, check stock verification, courtesy amount/ legal amount (CAR/LAR) mismatch detection, and payee match positive pay. This white paper focuses on Fraud Prevention for checks and signatures delving into the challenges and the resolutions.

Organizations can now benefit from a variety of efficient fraud prevention solutions that are cost effective for both large banks and smaller organizations. Find out how to enable comprehensive compliance and fraud prevention within your banking applications for check payments and other transactions with automation that leverages machine learning in this strategic white paper, Check and Signature Fraud Prevention: Challenges and Solutions.

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