Orbograph, a premier supplier of recognition solutions and image validation for the U.S. check processing market, as well as electronic/paper automation solutions in healthcare revenue cycle management, announced today that the company is releasing OrboAnywhere™ at BAI Payments Connect 2016, along with certification of the solution by Digital Check.
OrboAnywhere™ automatically validates the negotiability of paper-originated items for any self-service or traditional channels within the Omnichannel of a financial institution, providing a consistent client experience across self-service kiosks, concierge tablets, mobile devices, ATMs, video tellers, point-of-sale devices, remote deposit capture scanners, as well as over-the-counter or lockbox workflows.
As the financial industry expands its offerings of retail and treasury services to consumers and businesses, the ability to monitor transactions with corresponding images generated from a wide range of remote scanning devices introduces an entirely new set of risks into the payment clearing process.
OrboAnywhere’s innovative business rules leveraging enriched recognition technologies can now identify operational, fraud and compliance risk scenarios as items are scanned, processed and cashed or deposited from any workflow. Over twenty validation tests generate real-time scenario scores to protect transactions systematically rather than requiring human review or approval. These tests are designed to protect the financial institution and support regulatory compliance in areas such as Uniform Commercial Code (UCC), Regulation CC, Anti-Money Laundering (AML), Bank Secrecy Act (BSA), as well as Know Your Customer (KYC). Field recognition results can also be used in downstream applications, such as big data and market segmentation.
Barry Cohen, Co-President of Orbograph stated, “The introduction of OrboAnywhere™ coincides with our 20-year anniversary. We are excited to launch a new product into a growing, self-service market, which has an expanded set of requirements that fit well with our company core competency.”
Digital Check has certified OrboAnywhere™ to address industry problems of vault processing and image exceptions. Vault by Digital Check® integrates check and cash processing within a vault operation of a retail or corporate client, while Clear Inline® is an image enhancement software, which resolves difficult-to-read handwriting or printed text on checks and money orders. Both platforms can use OrboAnywhere’s enriched recognition as well as 20+ validation tests for the following: identification of 3rd party checks, cashed checks and Illegal documents, amount errors, high dollar risk, signature, endorsement and quality issues, payor and payee comparisons, as well as use of negative lists, stale and post-dated checks.
OrboAnywhere™ product and integration information for new business partners and financial institutions can be obtained by contacting Orbograph via website http://www.orbograph.com/orboanywhere.htm