 "Newgen Offers Automatic Signature Verification In CTS")
Newgen Software Technologies, a player in the ECM, BPM and DMS space, has announced the introduction of a new feature in its Cheque Truncation System (CTS).
Automatic Signature Verification (ASV) is the latest feature of the Cheque Truncation System, which comes with increased operational efficiency and reduced risks for banks.
ASV is a unique method to handle the Bank Mandate scenarios for the verification of signatures. It extracts the signature from the cheque and verifies it against reference signatures using more than 65 parameters.
This feature discovers intra-person variations in a signature and enables banks to intelligently distinguish between an authentic and a fake one. It automatically identifies changes in a person’s signature and updates these changes in a database to verify the legitimacy of the signature. Automatic Signature Verification ensures that all cheques undergo the verification process.
Diwakar Nigam, Managing Director, Newgen, said, “This flexible solution can handle multiple reference signatures and manage a variety of cheque formats. This would not only reduce operational costs but also lead to reduced frauds.”
Newgen has designed this system in line with the client needs and requirements.
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