PRZOOM - /newswire/ -
Boulder, CO, United States, 2009/09/21 - Parascript, LLC - CheckPlus International for Brazil achieves courtesy and legal amount recognition rates in the 75 percent range, significantly better than other solutions on the market.
Parascript, LLC, the image analysis and pattern recognition technology provider, today announced a new release of CheckPlus International for Brazil. The technology is included in Orbograph's recognition software solution for processing Brazilian checks, and has achieved read rates for courtesy and legal amount (CAR/LAR) significantly better than other check recognition solutions on the market. As a result, Brazilian customers (whose country is considered the third largest check processing market in the world) are able to take advantage of improved accuracy and lower exception processing costs.
"Leveraging Parascript's technology, we have been able to achieve CAR/LAR recognition rates in the 75 percent range for a challenging service bureau environment. This can be replicated in the Brazilian market to additional service bureaus, banks, and check processing integrators," said Joe Gregory, vice president of marketing for Orbograph.
"It is our long-standing commitment to develop best-of-breed technology that translates into faster processing times and reduced labor costs and errors for check processing on a global basis," said Mike Fenton, vice president of sales and operations for Parascript. "Parascript is proud to provide the highest recognition rates in the Brazilian check processing market."
CheckPlus International Brazil can process the entire stream of machine printed and handwritten checks. CheckPlus International is also currently deployed in Portugal, France, Italy, India, and other markets. The check recognition technology automatically locates and recognizes amount fields, the payee line, MICR line, checksum, and others respective to country. It also performs signature verification to help financial institutions prevent fraud.
About Parascript, LLC
The Parascript image analysis suite extracts meaningful information from images. Employing patented digital image analysis and pattern recognition technologies, the Parascript image analysis suite improves decision quality in medical imaging, postal and payment automation, fraud detection, and forms processing operations. Parascript software (parascript.com) processes over 100 billion imaged documents per year. Fortune 500 companies, postal operators, major government, and financial institutions rely on Parascript products. Organizations include the U.S. Postal Service, Bowe Bell + Howell, CheckFree - now part of Fiserv, Elsag, Lockheed Martin, NCR, Siemens, and Unisys.