A2iA CheckReader Integrated With The Nation's First Remote Consumer Deposit Capture Service
A2iA Corporation announced recently that A2iA CheckReader, a comprehensive set of tools that locates and reads key transactional information from paper checks and arbitrary document images, has been integrated into Eastern Corporate Federal Credit Union’s (EasCorp) much-anticipated remote consumer deposit capture service, DeposZip. With its recent launch, DeposZip is the first commercially available service of its kind to allow consumers and small businesses to electronically scan checks from their home or office and send them to their bank or credit union for collection. This new technology partnership enables EasCorp’s clients to leverage A2iA CheckReaderfor extracting key fields from paper checks, which in turn enables the processing of checks from anywhere that a desktop scanner is available.
Designed as a “thin” client application and appropriate for a variety of end users, Alan Bernstein, EasCorp’s Senior Vice President, Marketing & Strategic Planning, describes the program as “flexible and scalable.”
“What’s exciting is that it opens a world of opportunities for us to retain members who move away, students who go off to college or local businesses that want the convenience of making deposits from their own shops,” said Mark Emerson, EVP/Chief Operating Officer of Sharon Credit Union, one of the first CU’s to launch this revolutionary system.
While a lot is happening behind the scenes, the process appears transparent to the user. The consumer simply logs on to their account as they would to complete any online-banking activity and then selects a new option called “Make a Deposit.” From here, the user is seamlessly redirected to EasCorp, follows a few simple instructions, and scans the check on a simple desktop scanner. A2iA CheckReader then performs courtesy (CAR) and legal (LAR) amount recognition, MICR codeline recognition, image quality and image usability testing.
With the flexibility to work with any provider, EasCorp’s DeposZip can be deployed worldwide with a customizable design to match that of the bank’s or credit union’s branding.
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 over 16 years. A2iA recognition engines can be used to enhance the forms-processing, transaction-processing, content management, document management, and knowledge management systems from leading vendors. For more information: www.a2ia.com.
EasCorp is a $1.7B corporate credit union serving 300 natural-person credit unions throughout the United States from offices in Burlington and Woburn, Mass. EasCorp provides credit unions with a variety of deposit, loan and investment services; ALM modeling and consulting; electronic payment and processing programs, including remote-capture service; share draft processing; and statement-production and rendering services. For more information, please call 800.428.1144, or visit EasCorp at www.eascorp.org.
SOURCE: A2iA Corporation