Parascript machine learning software helps commercial and retail banking organizations automate complex, costly and error-prone processes intended to combat fraud and support compliance such as Know Your Customer (KYC) and AML initiatives. As banks of all sizes expand their channels of engagement and work to improve customer experiences, the costs of managing comprehensive processes associated with compliance and fraud prevention continue to increase. New gaps in compliance are discovered seemingly every month.
Parascript software provides the automation “behind the scenes” for many solutions already used by banks helping to enable compliance and identify fraud for financial institutions regardless of channel, such as remote deposit, teller, Web, ATM or mobile device. Our software detects counterfeit documents, signature forgery, content alteration, duplicate presentment, CAR/LAR mismatch and payee match discrepancies. Reliable automation is key to mitigate losses, protect assets and improve customer service and loyalty. Parascript automation software for compliance and fraud prevention solutions can be deployed in both front or back office environments and enable financial institutions to provide more comprehensive automation at lower costs than ever.