Parascript has helped JDS meet the demands of Check 21 and in so doing, has helped make history in the check processing industry. Parascript has been a responsive provider of quality software in the Check 21 industry, and we look forward to many more years of success with them as our business partner
Boulder, CO (PRWEB) April 5, 2010
Parascript, LLC, the image analysis and pattern recognition technology provider, and Jara Diversified Services (JDS), the manufacturer of Check 21 software for remote deposit, branch capture, and remittance processing, today announced the success of their collaboration to enable remote deposit capture. Using Parascript's technology, JDS played a role in clearing some of the first Check 21 items on October 28, 2004, the first day Check 21 was available.
The Check Clearing for the 21st Century Act (Check 21), enacted into law October 28, 2003, allows the recipient of an original paper check to create a digital version of it, thereby eliminating the need for further handling of the physical document. With the enactment, requirements to physically sort, transfer, and file hard copies of checks are no longer necessary, saving financial institutions time and money.
"Parascript has helped JDS meet the demands of Check 21 and in so doing, has helped make history in the check processing industry. Parascript has been a responsive provider of quality software in the Check 21 industry, and we look forward to many more years of success with them as our business partner," said Steve Jara, owner of Jara Diversified Services.
To date, JDS and Parascript have converted many clients to Check 21 processing, and, more importantly, have assisted and inspired many others to do the same. JDS currently has 124 financial institutions and 100 corporations using the integrated solution. Among those using it are banks, savings and loans institutions, and credit unions.
JDS relies on Parascript's CheckPlus to read information from checks and other documents. CheckPlus automatically processes the full stream of documents for proof-of-deposit (POD) and remittance applications, and automates check and legal amount recognition (CAR/LAR) with higher read rates and accuracy.
"Parascript is pleased to work with industry leaders such as JDS, one of our first Check 21 partners, to not only meet, but exceed industry standards," said Mike Fenton, vice president of sales and operations for Parascript. "We have come a long way since Check 21 was enacted and are proud to have forged the way for others in the process."
About Jara Diversified Services:
Jara Diversified Services (JDS) is a privately owned technology provider in the electronic payments industry offering software solutions for financial institutions and accounts receivable applications. With over 20 years of industry experience, our management, development and technical personnel have been sought after by, and worked for, key banking institutions in the check processing industry. Our intimate knowledge of the check processing system is a strong foundation for a functional, streamlined, solid system and our commitment to promoting the success of our customers provides an additional competitive edge to those using our systems. We are prepared to walk our customers through the installation and implementation process from start to finish and provide ongoing technical and customer support. JDS is online at http://www.jaradiversifiedservices.com.
About Parascript, LLC:
The Parascript image analysis suite extracts meaningful information from images. Employing patented digital image analysis and pattern recognition technologies, the Parascript image analysis suite improves decision quality in medical imaging, postal and payment automation, fraud detection, and forms processing operations. Parascript software processes over 100 billion imaged documents per year. Fortune 500 companies, postal operators, major government, and financial institutions rely on Parascript products. Organizations include the U.S. Postal Service, Böwe Bell + Howell, CheckFree - now part of Fiserv, Elsag, Lockheed Martin, NCR, Siemens, and Unisys. Parascript is online at http://www.parascript.com.