LONGMONT, Colo., Jan. 6, 2023 /PRNewswire/ -- Parascript, a Colorado-based company dedicated to creating AI-powered solutions for document processing automation, has been awarded a patent (US 11521428 B1) on December 6th, 2022. The patent is for Methods and Systems for Signature Verification.
Parascript's patent for Methods and Systems for Signature Verification can help companies that wish to validate individuals' identities through signature verification. The proposed methods capture a signature image or a signature trajectory on a digital pad where it is then verified by comparing to a reference signature. The reference signature may be available in the form of an image or a trajectory collected during the process of signing on a pen-enabled device. The patent describes several use cases of identity verification: identity verification for remote access to services, identity verification in self-service kiosks, automated in-person identity verification, and the encoding of signature biometrics on IDs, credit cards, etc. Below are some of possible use cases.
Parascript's Methods and Systems for Signature Verification enables high accuracy automatic signature verification for identity verification. Innovative machine learning technologies allow for simultaneous processing of signatures presented in different forms (trajectory or image) without converting them to the same input type. This eliminates limitations that impeded the use of automatic signature verification for identity verification purposes, and it enhances the accuracy of signature verification.
Parascript's software saves companies over $1 billion annually. Parascript state-of-the-art software incorporates proprietary AI technologies to provide robust data capture solutions that bring the highest levels of accuracy when processing documents. With over three decades of experience applying AI to solve complex problems, Parascript can automate document-oriented processes in structured, semi-structured, and unstructured formats, drastically reducing human involvement. Parascript has automated the postal industry, mortgage, payment processing, and hundreds of other processes.
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