MMC Global introduces a state-of-the-art cheque verification system leveraging OCR and MICR technologies. Upload a cheque image to swiftly extract detailed information, ensuring security against counterfeit cheques. Revolutionize financial sector integrity with MMC Global’s advanced solution.
Image Verification
Our cheque validation system follows a meticulous series of steps to ensure accuracy and security:
Image Processing
Upon confirming the validity of the cheque image, our system performs image processing techniques aimed at enhancing OCR accuracy and MICR readability. Tasks include resizing, noise reduction, and contrast enhancement.
Data Extraction
Using Optical Character Recognition (OCR) and Magnetic Ink Character Recognition (MICR) technologies, the system extracts essential data from the cheque image. This includes account numbers, routing numbers, payee names, check amounts, and dates.
Verification Algorithms
he extracted data undergoes verification using robust algorithms:
Account and Routing Number Verification
Cross-referencing against a database of valid numbers ensures the authenticity of account and routing numbers.
Payee Name Verification
Verifying the payee name against recorded data to detect potential discrepancies or fraudulent activity.
Check Amount Verification
Validating the check amount against predefined patterns or limits, with checks above certain thresholds triggering additional scrutiny.
Date Verification
Ensuring that the date on the cheque falls within a valid range and hasn’t been altered.
Machine Learning Fraud Detection
Leveraging machine learning algorithms trained on historical data, the system identifies anomalies or fraudulent patterns in cheque transactions. This enhances the system’s ability to detect and prevent fraudulent activities.
Date Verification
Ensuring that the date on the cheque falls within a valid range and hasn’t been altered.
Advanced AI-Powered Cheque Verification System
Our check validation system starts by verifying the legitimacy of the cheque image. It extracts essential data using OCR and MICR technologies, followed by thorough verification, including machine learning for fraudulent activity detection. The result is a secure validation of the cheque.
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