Our technologically sound solution helps minimize manual intervention, reducing turnaround time for the verification process. By leveraging our solution, banks can enjoy a more streamlined and efficient process that effectively mitigates the risk of cheque fraud, ensuring that their customers’ financial transactions are secure and reliable. We thoroughly understand the value of trust for any successful banking relationship, and our solution bears this in mind.
What We Have Done
We have completed an internal project for one of the largest banks in Pakistan, wherein we designed a cheque verification model with an impressive accuracy of 98%. Our specialized scanners, available in both A4 and standard cheque sizes, were utilized to scan each cheque. Liquid’s proprietary technology is capable of reading the micron number, detecting the background pattern, and identifying the MICR code with 98% accuracy. Additionally, the model is equipped with logo and pattern detection modules, further improving its precision. As a result of our successful implementation, 1000 printers are deployed across the bank’s 1000 branches throughout Pakistan.
Product Features
One of the primary product features is Cheque Identification and Counterfeit Cheque Protection, which is essential for fraud prevention. The product also offers User Request Classifications for identifying different types of cheques, including fake and soiled cheques.
The Digital Storage of Data feature is another valuable product component that enables the bank to maintain a record of all transactions for auditing and future referencing. The feature ensures that the bank maintains transparency and accountability while handling customer transactions.
Moreover, the product comes equipped with Dashboards and Analytics, which enable the bank to monitor the system’s performance and track the customer’s behavior. The feature offers valuable insights into customer behavior essential for improving the overall customer experience.
The Reports and Alerts feature keeps the bank informed of any suspicious activity. It sends real-time alerts, enabling the bank’s management to take immediate action against fraudulent activity.