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OrboGraph Announces Open Consortium Strategy at Innovation Conference, Initiating with Advanced Fraud Solutions TrueChecks®

Robust consortium data set currently includes 2,500 institutions and 25,000 routing numbers

Burlington, MA, June 11, 2024 – OrboGraph, a premier supplier of check processing automation and fraud detection software and services, announced the successful integration of Advanced Fraud Solutions TrueChecks® within its OrboAnywhere Sherlock 5.3 release as part of an open consortium strategy to reduce deposit and on-us fraud across the industry. The AFS check consortium mega-metadata currently consists of fraud information from over 2,500 financial institutions, 25,000 routing numbers, and nearly 100 million accounts represented in total.

A consortium is an agreement, combination, or group (as of companies) formed to undertake an enterprise beyond the resources of any one member. Consortiums take various flavors, as many are focused on collaboration and open information sharing while others are technical products or services only accessible to a limited group of members. Consortiums serving the check fraud industry that are directory-based include: ABA, The Clearing House (ECCHO), and NACHA, all offering contact information to expedite return handling.


Solving Check Fraud Challenges with an Open Consortium Strategy

June 27, 2024

2:00 - 3:00 PM EST

OrboGraph’s flagship platform, OrboAnywhere, provides consortium enablement for service bureaus, bankers banks, associations, and business partners, as well as correspondent banks and other aggregators. By doing so, this strategy enables data sharing and collaboration within consortium nodes. An optional consortium approach allows for integration with third-party consortium providers like AFS but can also connect multiple consortium clusters. The combination delivers a solution which provides the widest market coverage compared to a single data resource.

The concept of an open consortium builds on multiple positive and negative data sets from various providers following the concepts of open banking. Open banking refers to the practice of giving financial services firms access to customer banking and other financial data to facilitate the development of new types of products and services for consumers. In this case, OrboGraph will support check fraud detection as an open consortium model, delivering early notifications within each consortium node and cluster, as well as across the enterprise.

Use of image forensics, an advanced form of image analysis based on deep learning models, improves the detection rate of counterfeits, forgeries, and alterations. This powerful combination of image forensics is blended with a six-step, layered deposit fraud approach. Data sets also include dark web material which is continuously mined and used for prevention purposes.

At the May OrboGraph Innovation Conference, OrboGraph provided alternatives to dramatically reduce on-us and deposit fraud charge-offs for financial institutions. Conference attendees validated that fraudsters continue to be resilient and dynamic, as supported in the AFS 2024 Deposit Fraud Trends Report where 1+ million cases of deposit-related fraud were reported in the first half of 2023.

Joe J. Gregory, Chief Strategy Officer at OrboGraph, stated, “Clearly the current approaches in the industry have not delivered the 90% prevention rates estimated in 2018. We think check fraud attempts are going to exceed $50B this year, so it is imperative to use every tool in the toolbox to protect our financial institution clients and their customers.”

“Our data set has proven to be incredibly robust,” proclaimed James Sloan, Vice President of Product Development at Advanced Fraud Solutions. “We are excited to partner with OrboGraph in this area and look forward to expanding the offering in ways which are unique to the industry.”

AFS averages over 350,000 new item and account level alerts added to our database monthly, and processes over 9 million unique queries against the AFS TrueChecks®️ database each month. This level of engagement and data accumulation significantly enhances the consortium’s ability to detect and prevent fraud on a massive scale.

Barry Cohen, Chief Executive Officer at OrboGraph noted, “Today we reach nearly 4,000 financial institutions through our vast client base of service bureaus, financial institutions, and associations. We believe we can onboard the majority of these organizations into our open consortium approach.”

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About OrboGraph

OrboGraph LLC. and OrboGraph LTD. ( are independent companies within the Thompson Street Capital Partners portfolio. OrboGraph is a premier developer and supplier of recognition solutions, payment negotiability, and check fraud detection for the check processing market. Nearly 4,000 financial institutions, service bureaus, and clearinghouses rely on OrboGraph technology to process billions of checks and payments annually.

About Advanced Fraud Solutions

Advanced Fraud Solutions is at the forefront of fraud detection and prevention, commanding an industry-leading reputation built over 15 years. Harnessing the power of its extensive transaction fraud database, the company’s pioneering fraud management platform helps safeguard over 1,000 banks and credit unions across the nation. By analyzing account-level historical data from countless financial institutions, processors, and third-party sources, the platform offers actionable insights to mitigate and prevent potential threats in real-time. Financial institutions that partner with AFS see a substantial reduction in fraud cases, significantly safeguarding their operations and bottom line.

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