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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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Charlotte Marriott City Center

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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

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)

Modernizing RCM with AI

An informative resource to assist RCM companies in understanding how to solve today's problems with the help of AI.

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

Traditional Products

Based on the Accura XV platform

Modernizing Omnichannel Check Fraud Detection

An informative blog series exploring payments fraud and image technologies used to fight financial crimes.

At our 2019 Healthcare and Check Payment Technology Conference in Charlotte this past May, we were fortunate enough to hear from Rod Springhetti, the VP Product Management at Deluxe Corporation, as he spoke about AI implementation.

Mr. Springhetti is known across the industry as a leading authority on AI implementation, and his insights were of great value. He took the healthcare "medical lockbox of the future" concept and brought it to the banking space.

Deluxe Continues Thought Leadership in AI for Banking

Deluxe has just released their Banker's Official Guide to Artificial Intelligence, which is available for download HERE. It's full of the kind of insights and wisdom we've come to expect from Deluxe, the world's leader in check technology.

The guide provides in-depth information on different aspects of AI for banking, covering a myriad of topics including:

  • What is Artificial Intelligence?
  • State of AI in Banking
  • Top Use Cases for AI in Banking
  • AI for Revenue Growth
  • Strategies for Success
  • Choosing the Right AI Resources
  • Glossary with Frequently Asked Questions
Screen-Shot-2020-05-12-at-7.53.01-AM-1

Below are a few highlights from the report.

What is Artificial Intelligence?

The guide does a great job of providing applications of AI and a visualization of different types of AI.

In additional to this, they include benefits for AI for banking:

  • Transform your customer experience with faster, more relevant information
  • Inject efficiency into systems and processes
  • Improve fraud detection and risk management
  • Gain new insights from previously trapped data

Click to enlarge.

Source: Deluxe Corporation

 

The State of AI in Banking

The Guide explores ways in which AI solutions coordinate to streamline payment methods and security, but also offers a warning to those smaller institutions that lag behind:

Less than 20 percent of mid-size FIs have plans for AI.

If you ask a banker about technology and innovation, and more than likely, you’ll hear a reference to artificial intelligence (AI). Whether it’s the promise of algorithms, the complexity of big data, or the dreaded rise of the machines, the buzz about AI makes the finance industry sound like Silicon Valley.

Unlike Silicon Valley, however, the challenge at most banks is turning that talk into action. The biggest risk—especially for mid- sized banks and credit unions—comes from standing still.

The key for the industry is in bridging the gap, ensuring that all FIs have the knowledge, resources, and confidence to move forward.

Use Cases for Artifical Intelligence in Banking

Analysts estimate a $1 Trillion AI opportunity for the industry in the next 10-15 years.

That is a bold prediction! The guide breaks the opportunities down to four categories:

  • Fraud detection
  • KYC and AML compliance
  • Credit and underwriting

Strategies for Success

The final section to highlight (there is so much to digest!) delineates the key strategies for success:

Where an AI project resides in the organization can make or break its effectiveness. Early adopters in various industries recommend creating an AI Center of Excellence (CoE).

The Deluxe Banker's Official Guide to Artificial Intelligence is enormously valuable and chock-full of easily-digestible information about the AI revolution in banking. As advocates for operationalizing AI in check processing, we encourage you to download a copy as soon as possible.

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