Redwither Software’s Signature Verification System (SVS) is used by financial services organisations to authenticate instructions from their customers. SVS is primarily used in cheque clearing to verify signatures on cheques. SVS is also used as a central repository of authorised signatures for authentication of customer’s instructions.
The SVS data base contains the following:
Signatures can be automatically scraped from the mandate if the mandate form lends itself to registration and recognition. Where the mandates are not suitable for this, signatures can be manually scraped from the mandate image by SVS Operators.
Allows a value to be input against an account number and SVS retrieves only the signature(s) valid for that value.
A file of cheque images prepared by the clearing system is queued for examination by SVS. The system presents the image of the cheque, the associated signatures and signing rules to the operator. Options are to Pay, Unpay or Refer. Referred images are queued and can be accessed from a browser by the bank’s branch, customer service centre or clearing staff. Alternatively, referrals can be emailed/faxed for final processing.
Automatic Signature Verification (ASV) compares a signature against metrics held and returns a confidence factor. This can be used to pre-select cheques and signatures for operator verification.
An MIS module provides information on numbers of referrals, types of referrals, source of referrals etc.
SVS can be integrated with all the clearing systems typically used by banks. Essentially, SVS receives a workfile of cheques from a bank’s clearing system. On completion of the verification process, SVS returns a workfile which includes decisions on whether or not to pay or refer an item to the bank.
SVS is available on Microsoft Windows and can be accessed via a browser.
Please feel free to download our free SVS Data sheet [Here].
Contact us now for more details on how Signature Verification could work for your financial institution.