Resources

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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Platform Modernization

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.

Platform Modernization

Modernizing payments in the banking and healthcare industries

AI, Self Learning & Deep Learning Technologies

Optimized AI and deep learning models for the automation of check processing and healthcare posting

Operationalizing AI & Self Learning in Checks

Revolutionizing check processing and fraud prevention for the banking industry

Delivering Healthcare Payment Electronification

Increased accuracy levels, decreased error rate for healthcare payments posting

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See how each product/service module of OrboAnywhere and OrboAccess delivers value from our check and healthcare payment platforms

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Healthcare Payments

OrboAccess automates remittance and payment posting as well as enables full research and business intelligence analysis for RCM companies, clearinghouses, billers, and providers.

Access EOB Conversion

Delivers EOB/EOP electronification with information intelligence via AI and deep learning technologies

Access Correspondence Letters

Extracts posting data and tracks reimbursement progress via workflow management

Access Payment Reconciliation

Streamlines the reconciliation process of ERA, ACH, EOB and checks

Access Patient Payments

Automates patient payments for posting

Access Denial Intelligence

Spotlights trends in denials to reduce receivables via prevention

Healthcare Payments Automation Center

Scalable, reliable, flexible cloud-based hosted data center on Amazon Web Services (AWS)

Check Processing

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.

Anywhere Fraud

Transaction and image analysis for on-us and deposit fraud detection of counterfeits, forgeries, and alterations.

Anywhere Recognition

Divergent multi-engine CAR/LAR, ICR, OCR & AI check recognition for the Omnichannel

Anywhere Validate

Validate payment negotiability of paper originated items

Anywhere Payee

Match, read, and validate payees for risk and operational workflows

Anywhere Positive Pay

Payee name verification of business checks using issue files

Anywhere Compliance

Mitigate risk in check payments for OFAC, BSA/AML, UCC, Reg CC, and KYC

Restrictive Endorsement

Automatic validation of restrictive, mobile and non-restrictive endorsements

Traditional Products

Based on the Accura XV platform

ACH Finally Catches & Passes Check Clearing … or Will It?

The other day a friend was telling me about how he ordered a lens for his camera via Amazon at The Real Reason Branch Traffic is Declining… Speed10am in the morning, and had an Amazon truck in his driveway at 3:30pm that afternoon. We used to be astounded by 48-hour delivery, and now the “click”-to-doorstep duration is only a little longer than the average baseball game.

So, in line with that level of service, we should expect real-time or at least same-day payments any week now in the United States, right? While various countries in Europe and East Asia are accustomed to instantaneous availability of funds to a depositor, that’s not going to happen in the United States for some time.

“We’ll see a lot of different projects that move us toward the direction of real-time payments, but we’re not likely to see this system in our life time,” says Peter Ehmke, partner, chief financial officer, and head of North America, at Edgar Dunn & Co., an international consulting firm with payments expertise. “We will not see a movement where the whole industry comes together to build one central, faster payments hub, as was done in other countries.”

It’s interesting that industry experts tend to try to illustrate a slow payment by comparing any type of new payment to the check, and by exaggerating the clearing process as in a “two-day wait” for a check to clear. Last time I went to the bank, it was either same day (on-us), or next day… but that’s besides that point.

NACHA’s Same Day ACH program shows progress is being made. The website shows great information related to the impact of a Same Day ACH to the ODFI and RDFI. As you can see in the article, it is optional. So we’ll see about ramp-up time, getting the kinks out, obvious training time, and incremental fees to absorb.

The vision of incremental change to the industry is coming to fruition slowly but surely. However, all existing payment types will remain viable and will compete in the space as they have for the past 10 years…

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