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Captovation Announces New Enhancements in Check Capture 5.1 Newest version includes CAR/LAR support and X9.37 output Minneapolis, MN, April 24, 2006—Captovation, a developer of document and check capture software, announced today new enhancements to the next version of their check imaging product, Captovation® Check Capture. These enhancements include a CAR/LAR (check courtesy and legal amount recognition) option and X9.37 output support to enable electronic check image exchange. These enhancements will position Check Capture as a true Check 21 truncation system for financial institutions. Captovation Check Capture 5.1 is enhanced with CAR/LAR intelligent character recognition technology, to recognize, interpret and analyze check data. This CAR/LAR option interprets the numeral and written check amounts and electronically extracts the information into data fields, thereby reducing the manual encoding requirements. Check Capture first looks for an encoded check amount, and if an encoded value is not available, the CAR/LAR amount will populate the amount field. If the CAR/LAR feature is enabled, users can also take advantage of the recognition confidence option. The recognition confidence option allows users to display checks in which the confidence for a CAR/LAR result is within a certain range. This helps a controller display and review all check items with low confidence. For example, amounts that do not meet the confidence standard set by the organization will be flagged for manual verification and the user will not be able to commit (archive) that check item. With the advent of Check 21 (Check Truncation Act), Captovation also found it necessary to provide support for the X9.37 output defined by the American National Standards Institute (ANSI). ANSI X9.37 is a binary interchange format that contains the check MICR (magnetic ink character recognition) data and an image of both sides of the check. Utilizing this output standard, financial institutions can capture the image and MICR data of a check and transfer them electronically to a check clearinghouse or paying bank. Clearing checks electronically is much faster because it eliminates check sorting and the shipping of checks from bank to bank. After a Check Capture user has finished imaging their checks, the X9.37 driver pre-commits all check items and returns validation errors found within each check. If no errors are found, an X9.37 file is created for each batch of checks scanned. If data validation errors occur, the checks are flagged on a per item basis making it easy for users to quickly identify and correct errors. Check Capture 5.1 also includes a new user interface with new tool bar icons and display windows. Most of these user interface enhancements were added to allow the user to easily validate check imaging, check MICR parsing and CAR/LAR results. Additionally, Check Capture supports the creation of manual cash letters – used for manual check clearing. Once the checks are scanned, an itemized listing of all checks in the bundle will be created, including the check amounts, on-us data, item sequence numbers, etc. This listing is required for financial institutions that will not be clearing check items electronically. Continuing to strengthen its check scanner support, Check Capture 5.1 now supports the Canon CR-55 check scanner. The Canon CR-55 has the ability to scan up to 55 pages per minute and supports black and white, grayscale, and 24 bit color with resolutions of up to 300dpi. Captovation Check Capture 5.1 is set to be released in Quarter 2 of 2006. Captovation will be demonstrating Check Capture 5.1 at the AIIM show, May 15th – May 18th in Philadelphia, Pennsylvania. About Captovation, Inc. Captovation develops check capture software for financial institutions. Our Captovation® Check Capture system provides the critical first step to becoming image enabled, thereby allowing financial institutions to capture checks at their earliest point of presentment so they can participate in and realize the many benefits of Check 21 and electronic image exchange. Check Capture can be used with many check scanner devices and includes such features as X9.37 support (Check 21 output standard), auto MICR parsing, and CAR/LAR recognition (optional). Check Capture is sold through Captovation certified resellers and OEM partners. For more information, visit the company’s web site at www.captovation.com. |