Lockbox.ai unleashes speed and accuracy by harnessing AI-Based technologies to automate data capture from checks, stubs, invoices, check and list in various formats. Effortlessly classify, segment, contextualize, and extract relevant fields, streamlining field display for seamless user triaging and downstream remittance processing.

Lockbox payment automation allows for the extraction of data from approximately 30 fields with exceptional accuracy at the field level. It presents these fields for triage, providing the operator with the capability to track all updates made. The solution offers several advantages, including data extraction accuracy of 90% or higher, enhanced efficiency in the remittance process resulting in reduced lockbox fees, achieving a straight-through processing rate of 50% or higher, improved customer service, increased accuracy levels, and seamless integration of new business units into the system.

Checkfraud.ai is an AI-powered solution that can assess checks from multiple channels, such as ATMs, branch deposits, and mobile deposits. This solution is hosted in a secure cloud environment and leverages both computer vision technology and AI to identify various types of fraud, including forgery and synthetic checks.

The solution utilizes a comprehensive approach to analyze checks, examining more than 20 distinct check elements and over 100 features in an image. This thorough analysis includes identifying counterfeit signatures, detecting alterations in the check amount, analyzing handwriting styles, and assessing a wide range of other elements that can only be detected through deep computational visual analysis. The check fraud solution aids in reducing false positives and fraud losses while also enhancing operational efficiency by minimizing manual review durations. Additionally, it empowers banks to proactively outpace fraudsters, ensuring enhanced security and protection for their customers.