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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

  • Three kinds of check fraud dominate the pack
  • Fraud has become more and more inexpensive to perpetrate
  • Behavior analysis to fight cross channel fraud

As fraudsters continue to evolve their tactics, it is important to understand what acts of fraud are being committed and what actions banks are taking in order to combat fraudsters. These real-life examples provide much needed clarity into not only the acts of frauds, but also the types of perpetrators and their situations.

From the field research completed by OrboGraph, it is no surprise that counterfeits, forgeries, and alterations are the most common types of check fraud being committed via a host of deposit channels and approaches. However, it is important to think about the perpetrators themselves and their motivations.

Check Fraud Perpetrators: Motivations and Methods

There are three types of perpetrators which emerged from our individual bank discussions:

  • Individuals
  • Small Fraud Rings
  • Large Fraud Rings (many international)

What stands out from these three types is the motivations behind the check fraud. The motivation for individuals differ from case to case. While there are many cases of individuals trying to make a quick buck, there were instances of those individuals struggling financially (unforeseen hardships, medical expenses, etc.) and needing to cover basic expenses to get by.

Conversely, the small fraud rings and large fraud rings are deploying different strategies to commit fraud. There is a full repertoire of fraud attempts which can be made, including cross-payment scenarios where money is deposited as checks and shipped out under a wire payment or ACH.

One of the more basic examples are creating counterfeit documents, facilitated by how accessible and inexpensive high-quality scanners and printers are: One trip to your favorite superstore, and with a $25 investment you’re equipped to make and alter copies of a check or checks. That means a sophisticated fraud ring can assign resources to set up an elaborate cover story and website, and engage in cross channel fraud. Meanwhile, less sophisticated fraud rings and individuals may resort to simpler tactics like stealing checks from mailboxes.

Behavioral Analysis to Combat Fraud

Behavioral analysis is a potent weapon in fighting cross-channel fraud; however, FICO’s recent fraud survey of hundreds of financial institutions uncovered that only 26% have a team assigned to detect it!

Fraud profiling is a common and effective response to check fraud and explored in the book Profiling The Fraudster: Removing the Mask to Prevent and Detect Fraud. The research presented here recommends that anti-fraud professionals need to understand best practices in making fraudster profiling a reality.

Mapping imaging technologies to individual fraud use cases

OrboGraph has created a new document called the “Fraud Perpetrator Profile Summary” for your review. This document summarizes the perpetrator use cases we discovered in our client research. We created this document for our current and prospective customers to illustrate how image analysis fraud detection can detect various flavors of counterfeits, forgeries, and alterations above and beyond transactional analysis. We hope you find value in this document.

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