Anywhere Positive Pay: Solution Overview
Anywhere Positive Pay is a specialized OrboAnywhere module for check fraud detection on corporate accounts of financial institutions. With the prevalence of altered checks, Anywhere Positive Pay is designed specifically to detect alterations to the payee name and CAR/LAR fields of the checks.
Utilizing targeted AI models which are more powerful than traditional OCR, the solution analyzes the image of checks to locate the "pay to the order" and CAR/LAR fields and extracts the data from these fields. The solution compares the payee data of the issue file to the payee on the check, identifying any inconsistencies and flagging alteration suspects for review. The solution also performs a free read data extraction on business checks of payee field if issue file name is not available.
Many financial institutions are now running Anywhere Positive Pay in conjunction with other check fraud detection systems on business checks. The reason -- speed! In the case of positive pay, most bank systems are "Day 2" operations. When running positive pay accounts through Anywhere On-Us Fraud and Anywhere Deposit Fraud during Day 1, financial institutions are able to identify fraud faster, which protects the client immediately.
Anywhere Positive Pay Demo