Newgen Software Technologies, a leader in the field of Enterprise Content management (ECM), Business Process Management (BPM) and Document Management System (DMS), announced the introduction of a new feature in its Cheque Truncation System (CTS).
The innovative aspect called the Automatic Signature Verification (ASV) is the latest feature of the Cheque Truncation System which comes with increased operational efficiency and reduced risks for banks.
ASV is a unique method to handle the Bank Mandate scenarios for the verification of signatures. It extracts the signature from the cheque and verifies it against reference signatures using more than 65 parameters.
This feature discovers intra-person variations in a signature and enables banks to intelligently distinguish between an authentic and a fake one. It automatically identifies changes in a person’s signature and updates these changes in a database to verify the legitimacy of the signature. Automatic Signature Verification ensures that all cheques undergo the verification process.
Stating the benefits of the Automatic Signature Verification, Diwakar Nigam, Managing Director, Newgen, said, ‘This flexible solution can handle multiple reference signatures and manage variety of cheque formats. This would not only reduce operational costs but also lead to reduced frauds.’
Newgen has successfully designed this system in line with the client needs and requirements. It has reiterated its position as an organization which believes in quick response to the needs of its clients.
About Newgen Software
Newgen Software Technologies Limited (newgensoft.com) is the market leader in Business Process Management (BPM) and Enterprise Content management (ECM), with a global footprint of about 750 installations in over 35 countries. More than 100 of these implementations are large, mission-critical solutions deployed at world's leading BFSI, BPO and Fortune Global 500 companies.
Newgen is recognized by distinguished analyst firms like Frost and Sullivan as A 'Hot Company to Watch for' in their global ECM Market report, 2009 and by IDC in its exclusive report “Newgen Software: Global Leader in Business Process Management and Document Management Solutions”. Newgen is a winner of prestigious award, such as CNBC-TV18, “Emerging India Award 2008”.
With HSBC and SAP investment, Newgen is one of the rare product companies to have backing of both leading financial and technology companies of the world. Newgen’s Quality Systems are certified against ISO 9001:2008 and Information Security Standard, ISO 27001:2005. Newgen has been assessed at CMMI Level3.
For Further Information:
Newgen Software Technologies Limited
Rohit Thakur: T: +91-11-4653 3200, M: +91-9899294868.