OrboGraph Introduces OrboAnywhere Sherlock Version 5.3 to Address Increasing Check Fraud Attempts
Massive feature expansion delivers improved detection with reduced false positives
Burlington, MA, March 11, 2024 – OrboGraph, a leading provider of check fraud detection and image recognition solutions, is excited to announce general availability of their new OrboAnywhere Sherlock 5.3 Release.
Sherlock 5.3 provides a powerful list of new weapons which will assist financial institutions in their fight against check fraud, an ongoing and growing financial crime assault.
Highlights include:
- Data Attribute Expansion: Delivers new data elements for downstream data scientists deploying machine learning
- Embedded Rules Engine: Addresses a wide range of fraud use cases and allows for rapid system adjustments
- New Web-based Profile Editor: Optimized the user interface which works in tandem with above, and provides improved security
- Velocity Analysis: A new powerful analyzer which blends transactional account history with image forensics
- Payee Integration: A new addition to Anywhere Fraud for positive and negative matching
- Dark Web Matching: Used as matching tool for image data retrieved from cyber teams and 3rd party vendors
- Consortium Support: New “Consortium Connector” enables Advanced Fraud Solutions TrueChecks® within the Anywhere Validate module
- Fraud Reporting: Simplified tracking of fraud attempts and fraud prevention rates
"Check fraud is unrelenting. Our clients are looking for additional tools to support improved detection. We’ve reestablished the bar at 90% detection rates for most clients with Version 5.1, and OrboAnywhere Sherlock 5.3 should push that toward the 95% range,” stated Joe J. Gregory, Chief Strategy Officer at OrboGraph.
Barry Cohen, Chief Executive Officer at OrboGraph said, "This major release illustrates a commitment by OrboGraph to continue to address the check fraud detection market, but also to our client base who requested these advancements. We will continue to forge on at this accelerated pace in 2024 with additional major releases planned for later this year."
To receive a copy of the updated brochures and release notes, or schedule a product briefing, visit www.orbograph.com or contact James.bi@orbograph.com.
About OrboGraph
OrboGraph LLC. and OrboGraph LTD. (www.orbograph.com) are independent companies within the Thompson Street Capital Partners portfolio. OrboGraph is a premier developer and supplier of recognition solutions, payment negotiability, and check fraud detection for the check processing market. Nearly 4,000 financial institutions, service bureaus, and clearinghouses rely on OrboGraph technology to process billions of checks and payments annually.