Platform Modernization
OrboGraph delivers targeted intelligent payment automation solutions for check processing and fraud detection.
Check process and fraud detection are extremely active in modernizing systems with objectives to reduce cost, update infrastructure, eliminate manual processes, support digital transformation across the enterprise, and reduction in losses. The term modernization, used across many industries, describes the ability to adapt a process, technology, or object to modern needs or habits.
Trends involving IT, hardware, and software modernization in the banking and healthcare industries historically averaged 7-15 years, as hardware required replacement, and often software was tied to each hardware component. Additionally, mission-critical legacy applications, which impact enterprise infrastructure and multiple departments, span even longer periods due to the inherent complexities of a large project.
Today, compressed development time frames for new technologies are the norm. This in turn drives accelerated platform modernization windows. This, coupled with a renewed attention to business resiliency and contingency plans, makes it the perfect time to evaluate updating legacy platforms.
Take, for example, branch and teller capture technologies. New platforms are being developed by check processing vendors to provide a migration path to the industry to integrate real-time fraud prevention and further streamline deposit processing.
OrboGraph's check processing platform has expanded its technologies with the integration of OrbNet AI with deep learning models and OrbNet Forensic AI. Additionally, cloud deployment alternatives provide options to our clients and business partners.
Check Image Capture Modernization
Omnichannel image capture of checks can be highly diverse for banks. Many times, there are multiple vendors involved in the process with each workflow managed in its own silo. Consolidation of workflows is now happening via the introduction of new platforms which can run either on-premise, through a data center, or via cloud services. In this environment, check automation performance of 99% with OrbNet AI can have a dramatic positive impact to any and every workflow.
Additionally, real-time fraud detection using OrbNet Forensic AI image analysis can improve incoming deposits an inclearing items driving up detection rates to levels of 95%+. The result is the reduction of millions in fraud losses and possibly savings in operational costs.
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