ParaScript, an AI-powered document processing company, today announced the introduction of its ParaScript Recognition Suite (PRS), a comprehensive collection of AI-powered recognition software development kits (SDKs), with modular licensing options for check deposits, fraud prevention, document data extraction and custom projects, enabling financial institutions to target special areas of their business.
Banks and credit unions face a wide range of challenges, from rising fraud risks and tough compliance requirements to labor-intensive processes that slow operations. While technology can help, it too often comes with difficult deployments and complex licensing that add to the burden.
PRS addresses this by consolidating ParaScript’s technology into tailored packages built around specific use cases, giving institutions and fintechs broader licensing flexibility to choose the capabilities they need for each area of their business. The suite integrates easily into existing technology environments, allowing banks and credit unions to deploy only what they need today and maintain cost control, with the option to scale as their needs evolve.
PRS targets four core areas for financial institutions:
- PRS Deposits delivers highest accuracy for point of presentment check capture, back-office processing, image usability and image quality assurance check for smoother image exchange and deposit functions.
- PRS Fraud Prevention provides tools that strengthen fraud defenses and simplify compliance workflows, from check alteration detection to signature verification and end to end protection.
- PRS Documents automates the processing of forms, invoices, claims and other document types to reduce manual review.
- PRS Custom offers complete flexibility for any specialized requirements in check item processing, fraud prevention or document extraction, classification or analysis.
“Technology should ease the burden on financial institutions, not add to it,” said Ati Azemoun, Vice President of Business Development at ParaScript. “PRS is giving our clients and partners the ability to simply choose the package that fits their needs today – whether it’s deposits, fraud prevention, document automation, or a custom configuration – and know they have the flexibility to expand later. That ease of adoption frees staff to focus on higher-value priorities like serving customers and members; while giving institutions confidence they are using proven technology tailored to their needs.”
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