Cheque Processing Mitigating Risks with SignCheck and FraudOne
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Verification of Signatures and other Elements in Cheque Processing

Reading and validating customers' identity and intent with paper based financial transactions while detecting fraud attempts. This is the essense of cheque processing.

Modern cheque processing needs to focus on several different aspects at the same time in order to be efficient and effective. First in line is reading (detecting) and identifying the customer's objective for the actual payment processing. Here the focus is on automatically collecting the handwritten and printed information on the cheques face to collect the transactions specifics while avoiding manual intervention as much as possible. Second step is validating the transactions for compliance, which includes insufficent funds detection as well as signature verification and signing rights validation. Last but not least in line is the detection of any attempt to fake valid transactions while actually perpetrating fraud. All those steps must be quick and clearly purpose-oriented. These are the new challenges for modern cheque processing environments.

Cheque Truncation comes along with a Variety of Options for Branch Capture Devices zoom Cheque Truncation comes along with a Variety of Options for Branch Capture Devices

zoom image: Cheque Truncation comes along with a Variety of Options for Branch Capture Devices

Cheque Truncation comes along with a Variety of Options for Branch Capture Devices

Large high-speed reader sorters have just some years ago become image-enabled and are already going out of fashion. The wave of cheque truncation initiatives around the globe introduces a large variety of devices for branch level capture. Banks in low volume countries will try to combine other scanning needs with cheque scanning. Other banks rather play around the ideas of branch back-office level scanning or teller window image capture. This will require to make a decision on batch pocket scanners versus single sheet scanners. Often these discussions are driven by device costs rather than by process considerations. Only the proper choice of tools for the proper type of branch and teller processes will secure the right environment for modern cheque processing.

SOFTPRO provides a concise product suite for the challenges of item processing when it comes to transaction validation and fraud detection. The FraudOne Solutions Packages based on the SignPlus Product Suite are clearly focused on the needs in modern cheque processing environments. FraudOne support bank's cheque processes the way a bank needs to implement them in order to efficiently and effectively deal with the individual cheque processing and fraud environments of their operations.