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.

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News and trends for 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

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

Orbograph 2017 Predictions for Check Payments

2017Within the first months of 2017, there will be a number of important market studies released related to check volumes via FED research, fraud losses (ABA Deposit Account paper), and retail banking (BAI).  As OrboGraph looks to the future in check payment innovation, we believe the following trends will feed market innovations.

  • Check volume declines will decelerate: The overall market 6-8% decline in check volumes is going to slow to a rate more like 3-4%, or half of what it was. This was originally modeled out by Global Concepts about 8 years ago as they predicted that businesses would be the late adopters of electronic payments, and per the AFP report of 2016, they were exactly right. So P2P checks have bottomed out and B2B will drive up the dollar value of checks, validating that checks are again, not going away.
    • Note that there might even be an interesting “uptick” in volume. Sources in the industry indicate that actual volumes may have been underestimated. If we are indeed still at 16-18B check payments per year, this means that there are actually more like 33B transactions which are processed by FI’s when you consider the depository institution and the paying bank. Big numbers and big opportunities still exists for innovation!
  • Check fraud will see a small uptick in the 2016 numbers. Why? Because EMV was just starting to be implemented when the 2016 survey was launched.  We’ve heard from a number of sources including banks that check fraud attempts are increasing due to EMV implementations.  Fraudsters are cherry picking FI’s which don’t have good controls in place.  So aggregately, the impact will probably be small, but there will be more instances of check fraud occurring. BTW, because financial institutions have done such a good job at changing their deposit agreements, many of the losses are pushed to corporate customer scenarios.
  • Look for financial institutions to finally get to real-time check fraud prevention! Today most systems involve day-two processing! New technologies can help innovating banks address check cashing, split deposits and deposit fraud. Finally!
  • BAI just released their Executive Report for “A Look Ahead to US Retail Banking in 2017”.  BAI is pretty protective of their information, so we can’t disclose the numbers, but it’s a very interesting perspective as they interview many consumers as a baseline for their conclusions. Interestingly, younger consumers visit bank branches more than one would think. Sure, savvy mobile users will do most of their business online, but in major metro areas, even in Las Vegas, branches are still very busy at key times.

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