Anywhere Validate

Validating payment negotiability of paper originated items

Anywhere Validate

Anywhere Validate automatically validates the negotiability of paper-originated items for any self-service, centralized or distributed capture channel or image exchange trading partner within the Omnichannel of a financial institution. Designed to minimize the risk of checks and cash equivalent images from being non-negotiable, the system is an entirely new approach and technology compared to traditional image usability testing or manual review processes.

 

Anywhere Validate applies enriched recognition technologies to the payer, date and amount fields, while expanding traditional features like IQA, Amount Verification and signature presence.  From these recognition field results, 15+ validation tests are then activated to protect all potential parties within the payment stream including: bank of first deposit (BOFD), paying bank, retail customer, corporate client. Each validation test, activated in either real-time or batch, creates a score which complement the overall analysis approach from big data/analytics/capture/fraud systems, streamlining traditional deposit review functions. The results of each score are controlled by the Owhere App and be viewed via the Owhere Examiner.

 

Current Tests are summarized below:

Multi-Channel, Real-time Image Validation for Financial Workflows

business woman

Teller Image Capture

network illustration

Centralized Image Capture

check processing

ATM Workflows

healthcare billing

Remittance Processing

business woman

Branch Image Capture

Multi-Channel, Real-time Image Validation for Self-Service

screen

Self Service Kiosk

woman at atm

Video ATM

check processing

Point of Sale

tablet

Concierge Tablets

check processing

Remote Deposit Capture

mobile banking app

Mobile RDC

 

 Field/Type    Name Use Cases and Tangible Achievements
 Payor Account Name Validation Free read, verify fields, kiting, risk per channel, feed downstream data analysis, marketing campaigns targeting payors from transit banks
 Payor Negative List Identify payors/makers from predetermined lists, i.e. black list, closed accounts, fraud, other
 Payor Suspicious Flag payors which could indicate fraud or problematic accounts due to incomplete data
 Payor Check Out of State Identify payors from outside of state which may pose risk, international items, feed downstream data analysis
 Amount High Dollar Detection Risk management for manual review, internal controls, SAR, can use index from balanced file
 Amount Verification (CAR, LAR, Index compare) UDAAP & Reg CC risk mitigation, minimize customer errors, limit cash letter errors, reduce adjustments
 Amount Discrepancy (CAR vs. LAR) Identify customer errors, limit operational errors, insure LAR precedence
 Document Image Quality Assurance (IQA) Apply FED, FTSC or unique parameters to images to minimize non-compliant images (NCI) and quality issues
 Signature Presence Detection Reg CC, UCC and ECCHO rule compliance to confirm signature is on image
 Endorsement Presence Detection Identifies that a signature is present on image
 Endorsement Virtual Endorsement Filtering Selective abilities to filter virtual endorsement out to identify if originating endorsement was present
 Document Illegal Document Identification Identifies RCC/PAD items per ECCHO rules, validates approved document types as defined in bank customer relationships on a workflow level, i.e. RDC, ATM
 Date Stale and Post Date Risk and fraud related topic, UCC related topic, date ranges are flexible per workflow
 Transaction Deposit Out of State Identified via the state of the deposit, risk mitigation of suspect customers, KYC
 Transaction New Account Identification Identified via application API, fraud and risk control, funds availability considerations, manual review queues
 Transaction Short Term Duplicate Flags immediate duplicates where customer or application submits images more than once

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