Solsoft Leverages Parascript to Provide Automated Transaction Solutions

Longmont, CO, June 29, 2017 -- Parascript announces Solsoft’s end-to-end transaction solutions, which integrate Parascript check processing and signature verification technologies, will expand from Ecuador to countries throughout Central America. Solsoft provides specialized software to extract relevant information in checks and verify signatures automatically to enhance the business process and increase efficiency. For decades, Solsoft has provided comprehensive software and hardware transaction processing solutions across Ecuador.

“Over time, Procurement Departments from financial institutions have come to see the importance of transaction processing automation, and Solsoft has won many new projects,” said Fernando Riofrio, Director and Co-Founder of Solsoft. “So, it’s natural to expand our solutions and services to help new customers.”

Solsoft has deep roots in Ecuador. Twenty-five years ago, Fernando Riofrio and his sister Martha Riofrio established Solsoft as a company. The idea to build their own business came from a former manager, according to Fernando. Before starting their company, Fernando worked as a partner with another firm and decided to branch off to grow the business.

“We started when personal computers arrived on the market,” Fernando explained.  “We’ve always focused on developing software and selling devices to the financial industry.”

Today, Solsoft is working with 23 companies. Having Parascript technologies integrated into their overall solution helps ensure Solsoft offers the most accurate, quality check processing and signature verification solutions currently available. Mark Gallagher, VP of Sales at Parascript, commented, “We are very pleased to be partners with Solsoft  as they help their customers address the tough problems of branch transformation and the growth of digital channels, especially mobile.”

Solsoft provides two primary solutions:  check processing and automatic transaction processing. The evolution of both processes evolved over the years from a manual check processing application to today, an automatic check truncation process with a variety of images coming from different banks. Solsoft provides specialized software that reads the relevant information on checks and verifies signatures automatically to enhance the business process and be more efficient.

By processing checks and remittances, the Solsoft platform provides the necessary information to the Central Bank of Ecuador for processing compensation and depositing checks into accounts. One of the unique achievements of Solsoft is that they distribute both the software and the hardware. Solsoft is growing and evolving in the market, and they are committed to staying current on the latest product releases. The company is working on a mobile application for check deposit through a mobile device.

“We see bank branch transactions decreasing because customers want the mobility and convenience  of mobile transactions. We are looking forward to providing a smooth process for bank clients to deposit checks without going into a branch,” said Fernando.

About Solsoft Cía Ltda.

Solsoft Cía Ltda. is headquartered in Ecuador with over 25 years of experience providing IT analysis and functional and technical specifications development, programming, quality assurance, production support and training to financial institutions. Solsoft offers state-of-the-art software solutions that ensure timely, flexible and quality service in delivering accelerated systems integration across multiple platforms, credit systems services, image management, check processing and database administration. Visit Solsoft.

About Parascript, LLC

Parascript automates the interpretation of meaningful, contextual data from image and document-based information to support transactions, information governance, fraud prevention and business processes. Parascript Artificial Intelligence (AI) software processes any document with any data from any source with its easy-to-use, image-based analysis, classification, data location and extraction technology. More than 100 billion documents for financial services, government organizations and the healthcare industry are analyzed annually by Parascript software. Parascript offers its technology both as software products and as software-enabled services to our partners. Our BPO, service provider, OEM and value-added reseller network partners leverage, integrate and distribute Parascript software in the U.S. and across the world. Visit Parascript.

Attachments:

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/da3415b2-c0d3-4be5-b75e-d9550db5f84b

Rebecca Rowe
Parascript
303-381-3122
[email protected]