Check out our reservoir of information related to check recognition and healthcare payment technologies. We frequently update this section with the latest news, trends, and analysis of the banking and healthcare industries.
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Both the financial and healthcare industries are undergoing modernization initiatives in check payments and remittance. See how OrboGraph is using AI, self-learning and deep learning models to drive innovation in these industries to deliver workflow automation.
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OrboAnywhere automates paper originated payments (i.e. checks, money orders, drafts) and remittances for balancing and posting while reducing risk and losses in the areas of check fraud, payment negotiability and compliance.
A recent article in American Banker highlights the Federal Trade Commission’s idea of banning remotely created checks (RCC), also referred to as Pre-Authorized Drafts (PAD) by telemarketers. These merchants create RCCs by using bank account and routing numbers, creating a “check image” for payment processing. These are unsigned checks that are governed mostly by state laws without full recourse when unauthorized transactions are made.