Anywhere Recognition is the core technology for all OrboAnywhere modules, delivering read rates of over 95% on checks and over 90% when including internal documents. The system automates the process of depositing paper-originated negotiable items, i.e. checks, cash equivalents, preauthorized drafts, as well internal processing tickets like general ledger, deposit slips, loan coupons and cash tickets.
Intelligent Payment Automation capabilities include:
- Amount recognition based on divergent CAR/LAR/OCR technologies
- Multi-field extraction of account, tran code, serial, MICR and OCR lines
- Document definition and tuning application (OrboTool); includes capabilities such as text ID and anchoring
- V100 Recognition delivers virtually 100% amount recognition performance on checks; optimized for small transaction sets i.e. teller and remittance processing
- Optional Full Automation with data verification for selective fields including amounts, tran codes, account numbers and numeric fields
Anywhere Recognition can be applied to any omnichannel workflow including: centralized proof of deposit, teller capture, branch capture, regional processing centers, retail remittance, wholesale lockbox, service bureaus, image exchange, remote deposit devices, Mobile RDC, ATMs, check cashers and point of sale devices.
- Up to $1.5M savings/year per 1M items/day in teller capture
- 85% reduction in retail deposit touches
- 60% reduction in commercial deposit balancing
- Typically 10%+ incremental recognition performance
- Up to 80% reduction in misreads
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