Newgen Software Inc., a global provider of solutions managing content, processes, and communication, announced that the US Patent Office has issued a patent for its Intelligent Check Deposit Machine (U.S. Pat. No. 10,346,813).
The intelligent check deposit system scans the check, validates check fields and gives acknowledgment to the depositors for their respective action. It helps banks in identifying whether the check is acceptable or not, right at the time of deposit. Further, the system scans the check for physical validity by examining features like torn edges/corners and punch holes beyond the check boundary. And, it validates data for items such as missing fields, post-dated, predated, strike identification, an invalid date, alteration or overwriting.
“The issuance of this patent recognizes our efforts towards digitizing the banking processes and optimizing the check clearing cycle while ensuring security and compliance. We are happy with the grant of this patent and would continue to reinvent banking through fast and reliable electronic payments, with our future-proof solutions.”, said Diwakar Nigam, CEO, Newgen Software Inc.
Newgen’s solution facilitates seamless check clearing cycle. The solution helps banks mitigate operational risk, fast-track check clearing process and deliver enhanced customer experience.
About Newgen Software Inc:
Newgen Software Inc. (a subsidiary of Newgen Software Technologies Limited) is a provider of Business Process Management, Enterprise Content Management and Customer Communication Management platforms with large, mission-critical solutions deployed at world’s leading Banks, Governments, BPO’s & IT Companies, Insurance firms and Healthcare Organizations.
For more information, please visit https://newgensoft.com/
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