SQN’s Partnership with Glory, Ltd. Brings SENTRY: SigCheck™ to the Market, Offering Superior Technology for Automatic Signature Verification
Rancocas, New Jersey – SQN Banking Systems, the largest provider of signature verification and integrated check fraud prevention software
for the U.S. banking industry, has partnered with Japanese-based Glory, Ltd. to develop SENTRY: SigCheck™ for automatic signature verification.
Glory is a recognized leader in Japanese banking automation.
“We have been evaluating recognition software packages since 1990, as part of an effort to continually improve upon signature verification products we offer,”
says Charles Costanza, Director of Image Application for SQN Banking Systems. “Glory is known throughout the Far East for its expertise in recognizing such
emblems as currency stamps and Japanese language characters. With SigCheck, we have wrapped our software around Glory’s superior engine to give
customers a more accurate signature verification product.”
Keisaku Kano, Deputy Director of Information Processing Systems for Glory, notes, “We were looking for a U.S. outlet and recognized SQN as the premier software
supplier in signature verification systems. Partnering with a leader such as SQN gives us a ready-made market.”
Glory’s technology approaches signature verification in a different manner than do traditional solutions on the market, according to Brian Dunne, Vice President
of SQN Banking Systems. “Signature verification products typically look at outliers and defining features of a signature,” he says. Dunne explains that there
are drawbacks to that technique, as highly stylized signatures or those with very little features are hard to recognize. “The biggest hurdle to this conventional
technology is that it requires a clean image to start with,” he continues. “As a result, a lot of work has been centered around cleaning up checks.”
Glory’s method, on the other hand, evaluates the entire image. “The system engine actually lifts the signature off the check and overlays it on the reference
signature to see how they match,” Dunne explains. “Glory’s unique algorithms accurately compare signatures while ignoring background lines and designs on the check.
The solution, therefore, is not tied to cleaning a check. It’s a significant difference.”
Glory’s technology makes it a powerful solution for banks and the price makes it a realistic one for smaller institutions to employ. “The product is
scaleable in both functionality and price and can be used in banks of all sizes,” Dunne relates.
Banks have the option of purchasing SigCheck to integrate with existing SQN fraud detection solutions or operating it as a standalone system. “SigCheck increases
operational efficiencies for banks, allowing more checks to be examined for fraud without an increase in full-time employees,” says Dunne. “In the past, the sheer
volume of items coming into a bank has made it too cumbersome to verify signatures on lower dollar value checks. Our product gives banks a reliable tool with which
to detect fraud on all items.”
The timing of SigCheck’s release is ideal, based on the recent proliferation of imaging at U.S. banks. “Banks can now leverage some of the technology they’ve
deployed in the last couple of years to add a highly effective filter to fight the growing fraud problem,” says Costanza. SigCheck has been purchased and is
undergoing testing, with full production scheduled for the first quarter of 2003 at a major U.S. bank.
“Glory is a strong, innovative company and makes an excellent partner for SQN,” says Dunne. “Moving forward, we will look to utilize their unique recognition
technology in other fraud filters that are currently under development.”
About SQN Banking Systems
For more than 20 years, SQN Banking Systems has provided integrated fraud detection and process improvement products for the financial industry,
meeting the needs of financial institutions of all sizes. The SENTRY suite of products includes software for exception item processing, image fraud
detection tools, automated signature comparison, signature verification and display, transaction analysis and safe deposit operations management. More
than 500 SQN customers have improved their earnings and reduced check fraud losses by as much as 84 percent with SENTRY. For more information, visit SQN's
Web site at www.sqnbankingsystems.com.
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