Automated Indicia Detection System from Parascript Protects Postage Revenue for Postal Operators, Cracks Down on Fraud
September 20, 2007 (PRLEAP.COM) Technology NewsSeptember 20, 2007, Boulder, CO – Parascript, LLC, the image analysis and pattern recognition technology provider, today announced Parascript StampVerify, a powerful image-based indicia detection system that automatically recognizes indicia presence on envelope images to ensure accuracy and legitimacy of postage. StampVerify locates indicia and determines indicia type, including stamps, meter marks, facing identification marks, information-based indicia and/or postal stationary. Additionally, StampVerify reveals the number of indicia present, recognizes postage amounts and total values for all valid indicia on given mail pieces.
“Postal operators have suffered multi-million dollar annual losses from insufficient postage and counterfeit indicia,” said John Buck, vice president of Parascript. “StampVerify works to ensure the validity of the indicia and that the proper postage has been paid to protect postage revenue and reduce operating costs.”
StampVerify helps postal operators to detect indicia fraud by comparing each stamp against a database of stamps and flagging suspects and counterfeits. Using advanced recognition technology, StampVerify reliably reads the postage amount printed in different kinds of indicia detecting insufficient postage. As a universal solution, StampVerify works with any transport and camera type and adapts quickly to country-specific indicia types.
About Parascript, LLC
The Parascript image analysis suite extracts meaningful information from images. Employing patented digital image analysis and pattern recognition technologies, the Parascript image analysis suite automates costly data entry and improves decision quality in postal automation, check and remittance processing, fraud detection and forms processing operations. Parascript software processes over 100 billion imaged documents per year. Fortune 500 companies, postal operators, major government and financial institutions rely on Parascript products. Organizations include the U.S. Postal Service, Böwe Bell & Howell, CheckFree, Elsag, Lockheed Martin, NCR, Siemens and Unisys. Parascript is online at www.parascript.com