DeepQuanty Artificial Intelligence Labs Announces the Launch of its first Product “SnapChek”
An Automatic Cheque
Processing Engine
Delivers above 90%
extraction accuracy on any handwritten field such as date, name, the amount in
words and amount in figures
100% extraction accuracy in
printed fields such as account number, MICR, and IFSC Code.
Significantly reduces time & error in
cheque clearing operations
National : DeepQuanty Artificial Intelligence Labs is proud to announce the
launch of its first product - SnapChek - an Automatic Cheque Processing Engine,
powered by Artificial Intelligence. Designed and built by a patent pending
process, SnapChek delivers above 90% extraction accuracy on any handwritten
field such as date, name, amount in words and amount in figures and near 100%
extraction accuracy in printed fields such as account number, MICR, and IFSC
Code.
Mahadevan Jayaram, Co-Founder
& Chief Revenue Officer says “SnapChek provides banks in India a
significant opportunity to enhance banking experience. Imagine the reduction in
turnaround time for cheque clearing.” SnapChek was developed at
DeepQuanty’s India Development Centre by a team of AI specialists in under four
months. Says Sundar Kanniappan the CTO “Our AI team is proud to have solved a
very old handwriting recognition problem in an unconventional fashion, which
puts SnapChek way ahead in performance when compared to known and published
benchmarks. SnapChek is just the first of a slew of exciting products that will
be launched in the next few months”.
DeepQuanty Artificial Intelligence
Labs was set up just four months ago with the objective of applying Computer
Vision and Artificial Intelligence to solve problems in the Banking, Retail, e-commerce, Insurance and Healthcare. The idea is to extract data
from images such as cheques, application forms, identity proof, and apparel, with an ability to build further
intelligence post extraction. For e.g., one can quickly sort apparel images
into kinds, shapes, designs, colours, and sizes. Or similarly, extract from
bank statements data such as type of income and expense. The deeper idea is to
immensely change the customer experience in the industry and also deliver cost advantages.
DeepQuanty Artificial Intelligence
Labs is founded by seasoned professionals with global exposure and decades of
experience in the technology and data sciences domain. www.deepquantyailabs.com
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