White Paper | September 1, 2010

Minimize Fraud, Ensure Timely Deposits And Still Produce An ROI With Lockbox Payments

Source: A2iA Corporation

Successfully deployed in numerous applications in the financial sector, A2iA, Artificial Intelligence and Image Analysis, addresses the pain points many financial institutions and organizations face each day -- how to process documents commonly found in lockbox solutions. Typically, these check-and-list documents are complex in structure, which makes it challenging to process them quickly and determine if full payment has been received and the invoice can be closed, or if it must be resubmitted. Since these documents are complex in structure, there is traditionally significant data entry involved.

However, with A2iA DocumentReader™, a proprietary data extraction and document classification toolkit, organizations can quickly capture this complex information including text, numeric fields, dates, and dollar amounts. Reduce manual keying, increase your efficiencies and accuracy, and classify these documents for archival.

An industry publication explains that approximately 30-million payments are processed by means of a lockbox each month. This means millions of payment documents and millions of complex, columnar data must be processed in a fast, efficient manner, all while keeping information confidential and adhering to privacy regulations. How will you accomplish this and still produce an ROI?

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