VECTORsgi Forms Software License Agreement with A2iA

Tuesday 18 May 2004 09:43 CET | News

VECTORsgi has forged a strategic agreement with New York-based A2iA, under which VECTORsgi will integrate A2iAs advanced recognition technology to enhance and improve the accuracy and performance of its image related software offerings.VECTORsgi is an active proponent of industry-wide standards for the quality of check images exchanged between financial institutions. Inferior quality images can have long ranging cost impacts on the depository and paying banks as well as customer satisfaction. Poor quality leads to missing images, which occur when the data line on a check is captured but no matching image exists. Items with missing images cannot be processed without significant manual work and are sometimes simply written off by the bank. A2iA has developed recognition technology that can detect missing fields on a check including the courtesy and legal amounts, signature, payee name and date. The technology also recognizes the MICR line on the image itself, which aids in matching the image to the electronic data captured by the device. VECTORsgi solutions, combined with A2iAs software can swiftly identify checks that are unusable, giving banks the opportunity to decide which course of action to use on the damaged item. Several VECTORsgi users have successfully processed more than 100 million items with zero missing images. With the addition of the A2iA technology, those numbers are expected to go even higher.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: ,
Categories: Payments & Commerce | Payments General
Countries: World
This article is part of category

Payments & Commerce