Parascript, LLC, a provider of image analysis and pattern recognition technology, has announced CheckPlus International for Argentina. The solution reads the legal amount, the courtesy amount, and magnetic ink character recognition (MICR) line on checks, which helps banks minimize costs and labor associated with the processing of checks.

           CheckPlus International for Argentina can currently process the whole stream of documents for POD (Proof-of-Deposit). CheckPlus International for Argentina cross-validates the courtesy and the legal amounts during the amount recognition process, in order to ensure the best possible recognition rates. CheckPlus International has already been implemented with success in Brazil, France, Portugal and India, along with other markets.
            “Parascript is proud to bring our best-of-breed recognition technology to the Argentinean check processing market,” said Mike Fenton, vice president of sales and operations for Parascript. “The need to reduce costs is shared worldwide, and we are constantly working to expand our product offerings.”
            According to Banco Central de la Republica Argentina, which is Argentina’s central bank, about 91 million checks were processed in the year 2009.  75 percent of these checks were converted into electronic images from paper in order to facilitate collection.