Advanced Software Design Corporation Granted Another Patent for SAND.Business Editors/High-Tech Writers RICHMOND HILL, Ontario Richmond Hill (2006 population 162,704) is a town in York Region north of Toronto, Ontario, Canada. It is part of the Greater Toronto Area. History The area was first surveyed by Lieutenant-Governor John Graves Simcoe in 1794 while he was constructing Yonge Street. , Canada--(BUSINESS WIRE)--May 5, 2003 Advanced Software Design (ASD ASD abbr. atrial septal defect ASD Atrial septal defect, see there ) Corporation, a provider of check fraud prevention solutions to banks and credit unions, today announced that its leading SAND(R) (Self-Authenticated Negotiable Documents) technology has been granted another patent with the U.S. Patent and Trademark Office. This latest patent secures exclusive intellectual property further expanded from the original patent, "Method and Apparatus for Enhancing the Security of Negotiable Documents", to specifically include additional methods of encryption and machine readability for authentication of checks and negotiable documents. It includes encryption and decryption (cryptography) decryption - Any procedure used in cryptography to convert ciphertext (encrypted data) into plaintext. of the raw data, use of digital signatures, and encoding through the use of 2-D bar codes and digital watermarks. SAND(R) is the only check fraud system that supports one, or a combination of encoding methods with encrypted 1-D and 2-D bar codes, digital watermarks, OCR OCR in full optical character recognition Scanning and comparison technique intended to identify printed text or numerical data. It avoids the need to retype already printed material for data entry. , or MICR (Magnetic Ink Character Recognition) The machine recognition of numeric data printed with magnetically charged ink. It is used on bank checks and deposit slips. MICR readers detect the characters and convert them into digital data. line, to prevent counterfeit or forgeries for personal and business checks. SAND represents the next generation of checks, enabling financial institutions to overcome and ensure image-survivability features under the Check 21 Act. SAND(R) offers payee The person who is to receive the stated amount of money on a check, bill, or note. payee n. the one named on a check or promissory note to receive payment. PAYEE. The person in whose favor a bill of exchange is made payable. name verification with self-authenticated checks, and positive pay, providing the most complete protection available for financial institutions and their customers, and enables real-time check validation at the point of presentment; at the teller line, bank of first deposit, or at the merchants. SAND(R) also makes obsolete the need for customers to upload files to the bank, a compulsory daily procedure in the case of positive pay. Any size financial institution can benefit from SAND's flexible design, without being compelled to incur expenses for a particular type of hardware. About Advanced Software Design Corporation Advanced Software Design (ASD) Corporation is a privately held software company that specializes in check fraud prevention solutions for the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry. The company offers anti-fraud consulting services to banks, credit unions and corporate clients throughout the United States, and Canada. The company also creates software that enables financial institutions to provide personalized checks, in-house printing, and improved delivery and turnaround time (1) In batch processing, the time it takes to receive finished reports after submission of documents or files for processing. In an online environment, turnaround time is the same as response time. , while increasing revenue generation. For more information, contact Evi Constantinou at 905.709.8664 or by e-mail at evi@asdc.com. Visit the company's Web site at www.asdc.com. |
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