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Anywhere Positive Pay

Supercharge Positive Pay with AI-Powered Payee Name Verification and Amount Verification

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.

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Anywhere Positive Pay

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Supercharging Positive Pay

Standard positive pay systems matches the check number, dollar amount, and account number of each check presented against a list provided by the business. It ensures that only checks with matching details are processed.

Unfortunately, standard positive pay systems are not completely effective in today's check fraud landscape as fraudsters have adapted,  many times focusing on payee alterations. These alterations are undetectable by traditional positive pay systems.

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Financial institutions are now supercharging their positive systems to include:

  • Payee Name Verification
  • Field Validations
  • Incorporation of Consortium Data
  • Dark Web Monitoring

Anywhere Positive Pay Benefits:

  • Reduce risk of fraud losses and charge-offs
  • Improve control over financial processes
  • Automatic verification of business checks
  • Minimize operational overhead
  • Expand services of positive pay
  • Meet competitive pressure from other banks offering payee name verification

Anywhere Positive Pay Demo