A2iA CheckReader™ Integrated Into Account Reconciliation And Deposit Verification Software To Combat Bank Payment Fraud
A2iA CheckReader and Chesapeake's T-Recs Enterprise intelligently process check-images on a robust reconciliation platform to close one of the biggest loopholes in payment fraud.
A2iA (Artificial Intelligence and Image Analysis), a leading provider of tools for document analysis and handwritten data extraction, announced recently that its comprehensive check-processing toolkit, A2iA CheckReader™, has been integrated into Chesapeake System Solutions, Inc.®'s Total Reconciliation Solution (T-Recs®) Enterprise, an account reconciliation and deposit verification software. A2iA CheckReader's advanced image analysis and intelligent recognition engines enable software applications to capture handwritten and machine printed information from all areas of a check or related payment document. Together with T-Recs Enterprise, this integrated solution provides Chesapeake's customers with advanced bank account reconciliation and positive pay functionality, combating bank payment fraud.
T-Recs Enterprise offers banks a robust, scalable, service-oriented architecture, which can integrate seamlessly with existing back-office systems. The solution delivers its advanced functionality in a server environment, lowering operational costs and facilitating innovation in the delivery of high- profile, fee-generating cash management services. T-Recs Enterprise's browser client makes it simple to offer Web-based services to corporate customers and allows banks to do so at a fraction of the cost. T-Recs Enterprise delivers standard (next day and same day), payee, ACH, wire, teller and reverse positive pay services with image integration for initial scrubbing and customer pay/no-pay decisions.
"Intelligently processing check images on a robust reconciliation platform offers an opportunity to close one of the biggest loopholes in payment fraud. A2iA CheckReader offers an unparalleled solution to this complex problem, while T-Recs Enterprise is by far the most advanced reconciliation system on the market today," said John Snyder, Chesapeake's Director of Business Development. "Bringing together these two solutions yields the perfect technology combination. Banks implementing this system will be able to provide their corporate customers some truly unique services."
Chesapeake's T-Recs Enterprise is available as a licensed software offering, a hosted solution, a Software-as-a-Service (SaaS) solution and an outsourced service.
"Positive pay is a topic gaining more attention in the industry today, especially as attempts at fraud become more sophisticated. Chesapeake is leading the way in this market niche, and A2iA is proud to partner with such a forward-looking organization," said Jean-Louis Fages, A2iA President and Chairman of the Board. "A2iA CheckReader's precision-engineered, advanced image analysis and proprietary recognition engines offer fast read-rates and unparalleled accuracy, which complement the functionality T-Recs Enterprise offers."
A2iA, Artificial Intelligence and Image Analysis, is a software company that operates one of the world's largest research centers focusing on ways to extract information from everyday paper documents that contain handwritten information. A2iA's Document Classification, OCR, ICR and IWR technologies have been reducing data-entry costs and improving business process automation for nearly 20 years. A2iA recognition engines are used to enhance the forms-processing, transaction-processing, content management, document management, and knowledge management systems from leading vendors.
About Chesapeake System Solutions, Inc.
Chesapeake System Solutions is an industry leader in providing integrated software solutions that simplify the complexities of financial and treasury management operations. Headquartered in Owings Mills, Maryland, Chesapeake provides integrated financial governance, risk and compliance solutions to the world's foremost enterprises. Chesapeake's integrated suite of software solutions brings visibility and control to the processes of balance sheet reconciliation, risk management and compliance, while intuitive design features simplify financial data reporting, workflow management, financial oversight and close. Since 1993, Chesapeake's applications have helped national and international organizations of every size improve productivity, lower costs and document compliance with Sarbanes-Oxley, PCI Standards and other regulations.
SOURCE: A2iA Corporation