Product News: Software
Signature Verification Software reduces instances of fraud.
Press Release Summary:
June 26, 2014 - Used to reduce fraud, eFLOW® Signature Verification automatically analyzes incoming signatures on any document against existing samples collected during previous instances. Signatures flagged as potentially fraudulent are passed to operators through GUI for further analysis to highlight where problem areas exist. Via this functionality, solution helps increase speed and accuracy of processes and enables staff to be redeployed.
Original Press Release
Top Image Systems Launches eFLOW® Signature Verification
Press release date: June 17, 2014
Tel Aviv, Israel/New York, NY -- Top Image Systems Ltd. (Nasdaq: TISA) a leading ECM (Enterprise Content Management) and BPM (Business Process Management) solution and MIP (Mobile Imaging Platform) provider, today announced the launch of eFLOW® Signature Verification, its latest addition to the cutting edge eFLOW® solution. eFLOW Signature Verification is designed to enhance the eFLOW product scope for existing customers, while presenting new customers with an innovative solution to reduce fraud.
eFLOW Signature Verification automatically analyzes incoming signatures on any document against existing samples collected during previous instances, such as during an account opening. Signatures flagged as potentially fraudulent are passed to operators through a graphical interface for further analysis to highlight clearly where the problem areas are. With eFLOW Signature Verification, processes are quicker and more accurate, and staff can be redeployed, thus enabling cost savings.
Michael Schrader, COO of Top Image Systems explains, “Signatures are still used on our most important documents, and yet signature forgery is widespread and difficult to identify. Businesses use trained operatives to spot fraud, but the human eye is not always able to identify the forgeries with accuracy. It also takes a great deal of time and cost for companies to carry out this work.”
Continues Schrader, “Identity theft, particularly involving the use of an existing account, is growing significantly and costing companies millions of dollars every year. eFLOW Signature Verification, a powerful automation tool developed by TIS, accurately identifies these signature forgeries, while reducing reliance on manual operators and improving cost efficiencies.”
“Top Image Systems’ eFLOW Signature Verification enables automated verification of signatures on any type of document with a high degree of accuracy, consistently outperforming similar solutions in customer benchmarks. For banks and other businesses that rely on signatures, automating such authorization not only reduces fraud and the associated costs, but enables significant cost savings as a result of the decrease in human involvement in the process,” Schrader concludes.