BOULDER, Colo.–(BUSINESS WIRE)–ParaScript, a leader in AI-powered document processing company, today announced significant enhancements to its flagship check recognition solution, CheckXpert.AI®. The most notable addition is the introduction of advanced endorsement reading, an innovative feature that detects, reads and interprets handwritten or stamped text on the back of checks.
Endorsement reading is a critical addition to ParaScript’s check fraud prevention capabilities, as more financial institutions shift from physical inspection to remote and mobile deposit channels. This helps ensure checks are deposited through authorized channels and reduces the risk of fraud, including duplicate deposits and unauthorized third-party endorsements.
It identifies phrases like “For mobile deposit only” or “Deposit only to account of payee,” which often signal restrictions or conditions for processing. If an endorsement is missing, suspicious, or unauthorized, the system flags it instantly, providing a confidence score for each result. The technology automatically detects the orientation of the check, locates the endorsement area and reads any text present, matching it against a customizable list of authorized phrases.
Alongside endorsement detection, the new release of CheckXpert.AI® introduces several other enhancements including document type detection, improved money order amount reading, the ability to use custom vocabulary support for memo field reading and individual legal amount recognition.
“As financial institutions are dealing with sophisticated fraud schemes, they need tools that offer both accuracy and automation to stop fraud before it impacts customers and leads to significant financial losses,” said Emiliano Giacchetti, CEO of ParaScript. “Our latest check fraud prevention capabilities give financial institutions smarter, more reliable ways to detect check fraud and improve confidence in handling checks in the digital world.”
About ParaScript
ParaScript develops AI-powered recognition solutions that process over 100 billion documents annually and touch nearly everyone in the US who sends mail or writes checks. Leading financial institutions, government agencies, and corporations in the US, Europe, Latin America and Australia rely on ParaScript to automate their document processing, improving efficiency and accuracy, while reducing costs. Visit www.parascript.com to learn more.
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