The client is a global bank that partnered with Aiwozo to reduce check fraud and speed up verification. Despite the industry-wide shift toward electronic payments and Automated Clearing House (ACH) transactions, banks continue to process millions of handwritten checks manually each year.
Because a portion of deposited funds is made available to customers before verification is complete, identifying counterfeit checks quickly is critical. Yet the existing process remained slow, resource intensive, and left the bank exposed to significant fraud losses.
Aiwozo deployed autonomous agents to identify fraudulent checks in real time while reducing the volume of checks requiring manual review.
Recognition agents used Intelligent Character Recognition (ICR) and deep learning to scan checks, process the underlying data, and verify signatures automatically.
Detection agents, built on a neural network, analyzed a historical database of previously scanned checks, including known fraudulent cases, to learn the distinguishing markers of anomalous activity.
Verification agents applied a set of comparative algorithms to automatically cross check each deposited check against the historical database, flagging anomalies for review while clearing legitimate transactions instantly.
Key business and operational challenges that limited performance, scalability, and governance before automation was introduced.
