Mitek and Parascript collaborate

A collaborative effort between ICR leader Mitek (San Diego, http://www.miteksys.com) and Natural Handwriting Recognition (NHR) developer Parascript (Boulder, CO, http://www.paragraph.com) may improve productivity in payment processing systems. The first product to be co-marketed by the two firms will be CheckScript. Scheduled for a May availability, CheckScript is the first offering in the jointly developed Financial Document Suite. Touted to represent a dramatic improvement over the courtesy amount recognition (CAR) systems in use, CheckScript will use two separate CAR engines for courtesy amount recognition. Further, recognition is performed on the legal handwritten line. The three results are cross-checked for accuracy and a single result with corresponding confidence level is assigned.

The combined solution should dramatically improve read rates that the companies feel will make other opportunities, such as Proof of Deposit, commercially viable