Highly automated, end-to-end cheque processing

Paper cheques are a good example of an old approach that in many countries are still popular and widespread amid all the intention of banks to avoid paper-based financial operations. Dealing with paper cheques gives banks a constant headache: How to process these cheques effectively? How to avoid unnecessary printing, mailing, courier costs and how to be protected against various forms of cheque fraud?

Well, MPS has the right solution!

In contrast to many cheque processing solution on the market, which provide limited automation capable of capturing only some fields from a cheque, MPS IntelliVector can capture all fields (both machine printed and handwritten) from any paper cheque of any layout.

Future Cheque Clearing Model (FCM)

Looking for an end-to-end cheque clearing solution to speed up your existing cheque processing and comply with the Future Cheque Clearing Model (FCM)? Our cheque processing solution will help you tranform your current solution to an up-to-date cheque processing system in line with the FCM requirements.

High Automation

MPS IntelliVector automatically sorts and identifies cheque images by type, recognizes their layout and locates data that require extraction and processing. The built in recognition engines (some of best OCR and ICR engines available on the market) can recognize all the fields on a cheque including the handwritten ones (not only the CAR and LAR fields).

High recognition accuracy combined with automated validation (using databases or data from other fields, like in case of the CAR and LAR field) results in a high ratio of human-less straight-through-processing.

However, in some cases (typically with handwriting) additional manual validation or quality control is required. MPS IntelliVector does this using a microtask-based data validation approach that minimizes human involvement, compared to the traditional data validation techniques.

All these features allow to achieve the highest possible percentage of automation while still maintaining high data accuracy.

Multiple cost savings

Automating cheque processing with MPS InteliVector guarantees minimized human involvement, in turn significantly lowering overall processing costs. Moreover, with microtasking, even exception handling, where human data validation might be necessary, can be securely outsourced or crowdsourced to any part of the world, reducing processing costs even further.

Improved confidentiality

MPS IntelliVector’s microtasking approach guarantees that users involved in data validation or quality control have no access to the original data and work only with small pieces of anonymous data which contain no personally identifiable information (PII). This way the original cheque images containing the confidential information never leave the customer site during the processing.

Tuned for speed

The automated cheque processing solution based on MPS IntelliVector is perfectly suited for large scale cheque processing projects. Not only does it take less than 1 second to read an entire cheque, but the solution itself is highly scalable and is capable to process up to 1 million cheques per day.

Easy integration

The solution can easily be integrated with popular ECM systems and databases using built-in, ready-to-use system connectors. This means, it can be deployed in any heterogeneous IT environment while the results of the processing can be directly exported into the necessary enterprise system or database.

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