Many organizations and financial institutions rely on positive pay systems to protect their account-drawn checks from being counterfeited or altered by providing corporations with a check issue file, containing the natural elements of the check to be matched within. While these systems detect alterations and fraud applied to many elements of a check, including check number and amount, most do not match payee name with the intended recipient, creating a glaring loophole for potential fraud. Combining ScanSoft's sophisticated OCR technology with Carreker's own proprietary OCR expertise, Carreker's image-based PNV solution closes this gap, and quickly and effortlessly matches payee name with the information on file - virtually eliminating check fraud for positive pay customers.

In addition to detecting payee name alterations, Carreker's PNV is an easy-to-implement software solution that offers banks a number of additional benefits including fraud detection for an Image Replacement Document (IRD) or image environment and increased efficiency and reduced false positives through complete automation of the check review process. ScanSoft's Capture Development System allows Carreker to quickly add the new recognition capabilities to its software application, significantly speeding time-to-market while lowering development costs.

"In our continuing quest to provide best of class solutions, ScanSoft's complementary, advanced imaging capabilities allow us to offer even more fraud protection for our positive pay clients," said Thomas G. Gordon, senior vice president, Risk Solutions Group, Carreker. "Our Payee Name Verification solution provides our customers with a simple, cost-effective solution that is both affordable and reliable. ScanSoft's technology is extremely accurate, and affords our clients a high level of confidence that their transactions are protected."

"The agreement with Carreker demonstrates how OCR can offer customers significant time and cost savings - and, as in this case, be the cornerstone for a host of critical solutions," said Robert Weideman, senior vice president, ScanSoft Productivity Applications. "It's clear that there is a new generation of OCR solutions - well beyond simple scanning and document capture - that are moving into the realm of critical business applications with significant impact, in both enterprise and real-world applications."