SQN Banking Systems, Parascript and Bull, have announced a joint implementation combining the SENTRY SigCheck signature verification system with Parascript’s signature authentication technology in Brazil. This new signature verification system, implemented and integrated by Bull, was also deployed in a similar fashion at Banco Banrisul earlier this year.
SQN’s SigCheck takes on check images, extracts one or more side-by-side signatures from the check, depending on the associated signing rules and verifies the signatures using Parascript’s SignatureXpert to prevent fraud.
SignatureXpert leverages artificial intelligence for signature verification. Automatic comparison is executed by a combination of verifiers. In particular, the technology combines a human-like holistic analysis of a signature and signature segmentation with a subsequent analysis of the signature elements and characteristics.
Eraldo Silveira, executive-director of financial vertical at Bull, said: “With the rising number of check images being processed in Brazil, there is an increasing need for fraud prevention solutions. We are delighted to have technology partners such as SQN and Parascript which allows us to offer best-of-breed solutions to our clients.”
Joe Uhland, president of SQN Banking Systems, said: “Our primary goal is to instill confidence with our banking partners by equipping them with the most robust and technologically advanced check fraud detection systems available. At SQN, we are focused on facilitating steadfast relationships and streamlining decisions and functions, while saving money for financial institutions.”
Mike Fenton, vice president of sales and operations at Parascript, said: “We are delighted to bring our integrated fraud prevention technology to yet another Brazilian bank with our partners SQN and Bull. Check fraud continues to be a problem throughout the world and we are pleased to have a solution to stop it before it happens.”
Parascript is a provider of image analysis and pattern recognition technology.
SQN Banking Systems is a provider of integrated fraud detection and process improvement products for the financial industry.
Bull is an information technology company that helps corporations and public sector bodies develop open and secure information systems.
