Quebec Automobile Insurance Corp. (SAAQ, Quebec), a Quebec government agency within the province's Transport ministry, has implemented Aperta's (Cumbernauld, Scotland) Active Image Document Processing System (AiDPS), which incorporates Parascript's (Boulder, Colo.) CheckPlus International for Canada software. The integrated solution allows SAAQ to remove post-encoding check verification tasks and batch preparation workloads, resulting in reduced labor costs. Additionally, with the read rates achieved by Parascript's CheckPlus International software, SAAQ is able to further keep human intervention at a minimum, according to a Parascript press release.
Since going live some months ago, the SAAQ (Societe de l'assurance automobile du Quebec) has achieved amount recognition rates above 90 percent and significantly reduce labor costs at rates that truly exceeded their expectations, according to the Parascript source.
"We are very satisfied with the integrated check recognition solution from Parascript and Aperta and its user-friendly interfaces," comments Alayn Plante, manager, centralized operations, SAAQ. "We are confident our cooperation with Aperta and Parascript will continue to result in increased operational efficiencies."
SAAQ had issued an RFP for an image-based application to modernize their equipment and replace their microfilm-based system, the Parascript source reports. Performance criteria and confidence level requirements were included in the RFP to make sure the new solution would reduce the manual workload inherent in checks and stub processing. SAAQ required recognition performance levels for hand written and printed characters to make sure at least 70 percent of stubs and checks would be processed without operator intervention. The date recognition rate was set to 30 percent with an accuracy level of 95 percent. The integrated solution from Aperta and Parascript achieved amount recognition rates above 90 percent and date recognition rates averaging 75 percent, far exceeding SAAQ's requirements, Parascript claims.
"By combining Parascript's CheckPlus International recognition software with Aperta's AiDPS, we can provide an outstanding check processing solution to payment processors and financial institutions, significantly lowering labor processing costs worldwide," says Tim Kickham, sales director for Aperta. "We are excited about this latest application of Aperta and Parascript technology and look forward to continuing to help other organizations achieve greater efficiency on a global basis."
Parascript's CheckPlus International can process the entire stream of machine printed and handwritten Canadian checks in both French and English, the Parascript source asserts. The company's CheckPlus International has been successfully implemented in Brazil, France, India, Italy, Portugal, among other markets, according to the vendor. Depending on country, CheckPlus International automatically locates and recognizes amount fields, the payee line, MICR (Magnetic Ink Character Recognition) line, checksum, among others and performs signature verification to help financial institutions prevent fraud, Parascript claims.
Anthony O'Donnell has covered technology in the insurance industry since 2000, when he joined the editorial staff of Insurance & Technology. As an editor and reporter for I&T and the InformationWeek Financial Services of TechWeb he has written on all areas of information ... View Full Bio