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October 06, 2008
Mitek Systems ImageNet Payments Selected by AnyDoc Software
By Raju Shanbhag, TMCnet Contributor
Mitek Systems (News - Alert), Inc., a provider of image analytics and mobile imaging software, reportedly has announced that it has signed an original equipment manufacturer agreement with AnyDoc Software, an award-winning developer of document and data capture technology.
With the agreement, AnyDoc’s Infiniworx solution will get Mitek’s specialized ImageNet Payments check engine platform for automated remittance, check and Check 21 processing.
Matching their company’s existing business processes, users of Infiniworx now have the flexibility to integrate automated check processing into a document and data capture processing workflow. You need not manually separate the check from the remittance as check and remittance documents. Once scanned, a check image – front and back – is automatically cropped from the remittance statement.
The check is then processed to capture the account number, check number, check amount and MICR, and the remittance is processed for the details utilizing AnyDoc REMIT. This allows the remittance statement detail to be more accurately captured and overall processing speed increased. According to Check 21 specifications, checks can be virtually endorsed and electronically deposited remotely.
Eliminating the need for operators to hand-key the check data, AnyDoc’s use of the Mitek ImageNet Payment platform facilitates the unique data elements of a check image to be automatically captured. It can also read and accurately interpret the special MICR symbols and font used to designate bank account number, check number and routing number.
In addition, the Mitek ImageNet Payment platform identifies numeric and written values that are commonly known as “Courtesy Amount Recognition/Legal Amount Recognition.” Without human intervention, the data captured by the Mitek ImageNet Payment platform can be utilized to incorporate automatic database lookups and the auto-population of additional customer information.
Charles W. Jackson, AnyDoc Software’s founder and chief executive officer, said, “This feature alone has the potential to eliminate the labor it now takes to burst checks from the remittance pages, especially when you have tens of thousands of checks to deposit quickly. The Mitek ImageNet Payment platform rounds out our complete document processing solution for accounting. Users will benefit by eliminating the need to hand-key check data and most of the time-consuming manual verification process that was required before an accurate deposit could be made. Now check data can be captured automatically and deposits made without leaving one’s desk.”
Don’t forget to check out TMCnet’s White Paper Library, which provides a selection of in-depth information on relevant topics affecting the IP Communications industry. The library offers white papers, case studies and other documents which are free to registered users. Today’s featured white paper is The Compelling ROI Benefits of Contact Center Quality and Performance Management Technologies, brought to you by Voice Print International (News - Alert).
Raju Shanbhag is a contributing editor for TMCnet. To read more of Raju's articles, please visit his columnist page.
Edited by Michael Dinan
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