Monday, June 17, 2019
DeepQuanty Artificial Intelligence Labs Announces the Launch of its First Product 'SnapChek'
  SocialTwist Tell-a-Friend  

MUMBAI, May 21, 2019 /PRNewswire/ --

  • An Automatic Cheque Processing Engine
  • Delivers above 90% extraction accuracy on any handwritten field such as date, name, 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

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, DeepQuanty Artificial Intelligence Labs, 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. Sundar Kanniappan, CTO, DeepQuanty Artificial Intelligence Labs, says, "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."

About DeepQuanty Artificial Intelligence Labs:

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.


For more information please contact:
Mahadevan Jayaram
Co-Founder & Chief Revenue Officer
DeepQuanty Artificial Intelligence Labs

Zarna Banerjee
Account Director
Tute Consult

More News by PR Newswire India

DLF CYBERHUB and AMPM Café Celebrated Father's Day With Harley-Davidson Riders

Thailand's surge in IMD competitiveness list reflects dynamic economy, says BOI

TB Joshua to Host Meeting in Nazareth, Israel

OPPO Roars for Team India; Released Song ‘Jeet Pe Apna Haq Hai’ Created With Fans’ Heartbeats

From Black Hole Imaging to NASA Climate Research - Supermicro High-Performance Systems Support Major Scientific Discovery & Exploration Even to Distant Galaxies

Seamless Air Alliance showcases technologies enabling the future of inflight connectivity at Paris Air Show 2019

Sino-Russian (Harbin) economic and trade index launched to serve as barometer of bilateral trade

Danone and Migros CEOs Elected New Co-Chairs of The Consumer Goods Forum Board

Anant National University Welcomes its New Provost, Dr Anunaya Chaubey

One Man's Dream - India's Digital Awakening

Snehal Nagarsheth Joins Anant National University as Dean, School of Architecture

Systech and Toppan Sign Partnership Agreement to Deliver Brand Protection Solutions Worldwide

Top 10 Disruptive Digital Media Houses to Watch Out for in 2019-20

The 2019 China and South Asia Aviation Trends Forum Promotes Common Development through Interconnection and Cooperation

edelkrone Introduces Their First ORTAK Product

Health Horizons' Original Recipes Transform the Hemp Industry

FE CREDIT, Focussed on First Time Card Users in Vietnam, Crosses the One Million Cards Milestone and Gets the "Best in Card Acquisition" Award from Mastercard.

SALT Announces Its Signature Global Thought Leadership Conference In Abu Dhabi, UAE

The Cost of Anti-Money Laundering Compliance in Asia Pacific Region Increased 10% in Past 24 Months, Finds Study by LexisNexis Risk Solutions

Kemin Launches New Vision and Logo for the Future

Rove At The Park Opens Doors to a Thrilling Lifestyle Experience in Dubai Parks and Resorts

Encounter underway in J-K's Anantnag...
WB doctors' strike: Mamata to meet 2 rep...
Mayawati hits out at UP Govt on proposed...
Keeping with tradition, PM Modi takes oa...
SC to hear tomorrow plea seeking securit...
Kejriwal, Amarinder Singh slam Delhi Pol...
 Top Stories
Tech firms can't dodge responsibili... 
Researchers build AI system to conn... 
Karnataka doctors on day-long strik... 
Netanyahu names Golan Heights estab... 
Sensex in red, Reliance Industries ... 
Environment-friendly battery golf c... 
Defence Ministry to streamline expo... 
Manipal in talks with Jigsaw Academ...