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.

2019 Tech Conference

May 20-21, 2019
Charlotte Marriott City Center

Industry Videos

News and trends for the banking and healthcare industries

White Papers

OrboGraph’s thought leadership and original research

2018 Tech Conference

See highlights from the 2018 Tech Conference.

Product Videos

Watch our 2-minute videos to learn about our products

Partners

View our list of partners or become one yourself

News

News and updates from OrboGraph

Brochures

Download additional information on your products and services

Reg CC

Compilation of resources to help you navigate Reg CC

Events

See where OrboGraph will be next

Webinars

Learn more from OrboGraph and Industry Leaders

Testimonials

Hear what our clients and partners have to say about OrboGraph

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

Product Videos

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

Corporate Video & Podcast

See and hear how OrboGraph incorporates AI, deep learning and self learning technologies into its product suite

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

Compliance Standards for the MSB, and Why FI’s Should Bank Them

A Special Guest Host Blog Post by Bob Frimet, CAMS , RMF Consulting Group




One reason Financial Institutions don’t jump in the MSB banking ring is the perception that MSB’s don’t have what it takes from a compliance perspective.

Au contraire!

As an MSB (Money Service Business), these entities have strict guidelines for compliance. Just like financial institutions, the MSB must have a written policy and procedure, on-going training, internal monitoring, and an independent review. MSB’s must register with FinCEN as an MSB, file SAR’s and CTR’s on line, and are subject to state and federal examinations. MSB’s have clear guidance as issued by FinCEN.

As a former check casher, I can recall the days when I was audited by FinCEN (BSA audit), MoneyGram (for whom I was an Agent), the state (to ensure state regulatory compliance), and the bank. These audits and examinations only helped ensure that my MSB and MSB’s across the country toed the compliance line. Additionally, 9 out of 10 check cashers have POS (point of sale) software that assists the check casher with KYC and record keeping requirements.

Above all, MSB’s know their customer! The same customer week in and week out. Cashing their checks, wiring money, purchasing money orders, all with the support of the master MSB such as MoneyGram, who has their controls in place as well.

If one reviews the FinCEN enforcement actions, 7 out of 10 actions are against FI’s and casino’s and not MSB’s.

Banks that choose to bank MSB’s can and should provide adequate oversight starting with simple steps such as on-site assessments, asking for and reviewing a copy of the AML program, independent reviews, and making use of third party vendors to mitigate reward. With these steps in place, they join the ranks of several large banks, regional banks and community banks, who, through risk mitigation and sound practices and oversight, have learned to maximize revenues while minimizing the risk in banking MSB’s.

Just to put it into perspective, I operated 7 locations in the past. My bank fees were $9,000 per month, while my check returns were only 2/10th of 1 percent and never had a compliance write-up. A win for me in serving my local community and the bank building their bottom line!


See Bob Frimet live, at the 2019 Healthcare and Check Payment Technology Conference in Charlotte on May 21st at 2:45pm-4:00pm. He will be presenting best practices of check cashing for MSBs, check fraud prevention and an overview of AML compliance.


This blog contains forward-looking statements. For more information, click here.

Leave a Comment





Review your needs with an OrboGraph expert.

Sign up below for your complimentary assessment or to request
estimated solution pricing from OrboGraph.