BIRGER, a Pan-African technology solutions provider, has teamed with ParaScript to assist commercial banks in Mauritius in automating high-volume cheque processing and enhancing fraud detection capabilities with artificial intelligence (AI)-powered solutions.
The agreement marks ParaScript's first foray into the African market with its technologies, CheckXpert.AI SDK and SignatureXpert. The company is a developer of document capture and recognition solutions.
BIRGER's AI SDK will enable Mauritian banks to automate data extraction, fraud detection, and verification.
According to the companies, check truncation solutions are being deployed in numerous banks across the country.
The alliance, according to the parties, is formed as banks seek to eliminate manual processes, save operational costs, and boost fraud defences.
To that end, BIRGER identified the need for improved cheque processing technology that balances automation with human validation.
The system developed by ParaScript is intended to eliminate human review, detect fraudulent behaviour, and provide financial institutions with a measurable return on investment, according to the companies.
David Gerber, ParaScript's senior vice president of sales, highlighted the company's eagerness for extending its presence across the continent.
“We are excited to expand our presence in Eastern Africa through this partnership with BIRGER. Their deep expertise in delivering technology solutions to the banking sector and financial institutions, combined with our check recognition and fraud detection software, creates a powerful synergy.”
He added: “Together, we are helping banks in Mauritius accelerate their digital transformation while protecting against evolving fraud threats.”
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