When it comes to handling payments, customers expect efficient, real-time interactions. Customers are unlikely to accept wait times for deposits of a few hours, let alone 24 hours. Whether you call it being digitally transformed or customer-centric, immediacy and simplicity are the name of the game. Banks cannot rely on manual processes, which take too long for the digital generation. This is where Parascript comes in.
Tromba Technologies has years of expertise in helping organizations with Intelligent Data Processing and Accounts Payable solutions. Parascript creates best-in-class AI software that streamlines access to your data with unequaled precision.
Using state-of-the-art technology based on machine learning algorithms, including deep learning, payments can be processed in seconds, providing immediate feedback to the customer. Since Parascript enables automation rates as high as 99%, banks can automatically verify payment amounts against customer-supplied data to forego the traditional wait times for deposit availability.
Parascript also provides the capabilities to analyze the check beyond just the amount information to include key factors important in remote deposit, including the presence of date and backside endorsement. If data is missing, the customer can be notified during the transaction, not after the fact, resulting in an enhanced customer experience.
Payment Processing
Reseller and Solution Provider
Check Processing with Highest Accuracy & Speed Available
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.
CheckUsability® validates image integrity for instant check verification that combines image quality and usability techniques. The software minimizes risk and costs for both the truncating and paying bank through analysis of a comprehensive list of items that detects defects on personal and business checks and Image Replacement Documents (IRDs). CheckUsability allows integrators to support Check 21 quality and usability compliance and uses advanced recognition to validate all critical components of check image quality. CheckUsability ensures that images stand up to the most rigid assurance tests and delivers false alarm rates as low as 0.1%.
