Parascript adds signature verification patent to portfolio

The new patent for methods and systems for signature verification enables companies to verify the identity of individuals. The proposed methods capture a signature image or signature trajectory on a digital pad, which is then verified by matching it against a reference signature.

Parascript, an Intelligent Document Processing (IDP) provider, announced January 6 that it has been granted a patent for methods and systems for signature verification on December 6, 2022.

Using its machine learning technologies that allow simultaneous processing of signatures in different forms (trajectory or image) without converting them into the same input type, Parascript is able to remove limitations that hindered the use of automated signature verification for identity verification purposes and improve the accuracy of signature verification.

Use cases that will be possible through the new patent include identity verification for accessing services remotely by smartphone, tablet, or PC (e.g., customer onboarding, registration, verification), identity verification in self-service kiosks, automated in-person identity verification and encoding biometrics of a signature on ID cards, credit cards, and other documents.

Recently, Parascript had announced that it has developed an innovative Natural Language Processing (NLP) technology that uses an alternative machine learning approach. This approach enables Parascript to reduce deployment time and increase accuracy when extracting data from unstructured documents.

Longmont, Colorado-based Parascript offers an Intelligent Document Processing (IDP) solution that incorporates proprietary AI technologies to automate document-oriented processes in structured, semi-structured, and unstructured formats.

The full press release can be found here.

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