A2iA Rolls-Out CheckReader Check-Processing Toolkit as a Part of CFS' DepositWizard ATM Solution

Automation of any process might reduce work time considerably, but it brings along with it plenty of risks. But, A2iA’s new CheckReader not only shortens processing times but also reduces risk and helps fight fraud in deposit-automation-enabled ATMs.

Artificial Intelligence and Image Analysis (A2iA) is a developer of handwritten and machine printed text recognition, information extraction and intelligent document classification toolkits. According to the company, it facilitates complex and cursive data from all types of forms, documents and checks, such as unstructured handwritten letters, to become part of a structured database, thereby making it searchable and reportable with the same level of flexibility as printed or digital data.

A2iA’s CheckReader is a comprehensive check-processing toolkit that seamlessly provides a verification of the check-image quality and usability, as well as performs recognition on all data-points on the check, including CAR (courtesy amount) and LAR (legal amount) mismatch.

According to A2iA, the new CheckReader was released as a component of Conlan Financial Solutions Inc.’s (CFS’) DepositWizard ATM, which is a solution that performs image capture of a check-deposit at the ATM instead of the central processing center.

Tallahassee, Florida-based CFS specializes in delivering full service check imaging solutions to financial institutions.

CFS has developed the scalable DepositWizard ATM solution in partnership with CashTrans and Columbus Data Services (CDS). It is integrated into Nautilus Hyosung’s MX 7600i enhanced deposit automation ATM with Bulk Note Accepter (BNA)/ Bulk Check Acceptor (BCA).

Available to banks and credit unions as either an in-house or hosted solution, DepositWizard ATM with A2iA CheckReader together form a scalable solution that accelerates timelines, reduces operating costs as well as combats fraud at the point of deposit.

Together, both solutions allow users to securely connect and automatically process transactions from the deposit-automation-enabled ATMs to the financial institutions’ back office, with no human intervention required. Consequently, this shortens processing and posting times considerably and virtually eliminates the risk for “empty-envelope” fraud.

In addition, customers are also given the convenience of making secure deposit transactions at any time, despite teller hours, with DepositWizard ATM and A2iA CheckReader solutions.

According to a press release, A2iA CheckReader is currently deployed at the First Georgia Community Banking Company in their first completely electronic, enhanced-deposit-automation solution.

A2iA’s proprietary OCR, ICR and IWR toolkits do not contain any third-party technology and are available in 23-country versions and 6-languages. In addition, the company’s technology has been improving business process automation and is proven to reduce costs and nearly eliminate data-entry and manual document processing.