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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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

Top 10 Considerations for 2014 Budgeting in Check Processing

Top 10 Considerations for 2014 Budgeting in Check ProcessingAs we end another year of relatively stable check volumes in the financial industry, there are a number of cost-effective alternatives with excellent and proven return on investment which should be strong considerations for your 2014 budget. Although there is a decline in check volumes, it’s a stable decline, which implies predictability and less risk. Also, as product adoption curves of distributed capture points increase, a financial institution can better plan for significant improvements for each workflow.

Several of these considerations include:

  1. Efficiencies in Branch and Centralized Workflows:
    1. Pure multi-engine recognition technologies deliver over 90% read rates while blended full automation solutions go to 98%+. Is your organization still spending time with data entry? If so, now is the time to end this process.
    2. Balancing can still add a burden to check workflows due to older recognition technologies. Cut balancing overhead by 50%+ with new technologies.
  2. Customer Retail Experience: New recognition technologies deliver virtually 100% read rates on retail transactions. By delivering straight-through-processing at the teller line, the cross sale process is easier, the overall experience is improved and the employee operation is simplified.
  3. Treasury and RDC: There are a wide range of RDC implementations, but one constant remains; if the customer has over 30 checks, they are typically rebalancing every transaction. Eliminate this step by delivering only a single misread per 500 items.
  4. Mobile RDC: The user experience continues to improve with this approach; however, many in the industry claim success rates of only 70%. Leverage a 2nd recognition engine strategy and boost this number to closer to 95%+. Think of how the adoption will improve with this kind of approach.
  5. Check Fraud: “Long live check fraud” might be an appropriate claim as banks budget to “live with” losses and focus on other workflows. Significant improvements have been attained just over the past several years which can be applied to real-time teller transactions, RDC as well as mobile. Prices for image analysis solutions have declined, and are much more attractive than a few years ago.
  6. Corporate Fraud: Payee Name Verification (PNV) as an add-on to Positive Pay systems has been a very active market. Both community and regional financials are now offering this service to compete with big banks.
  7. Data Mining and Big Data: Several banks have been testing the ability to use payee and payer information from checks within their big data solutions. This is a bit less proven than the other areas, but has a great potential upside.
  8. Verify Amounts: Many checks come to the paying bank with incorrect amounts on them. You don’t know about it until customers complain. Locate and correct these items before they hit your retail and corporate accounts.
  9. Endorsement Validation: The coolest feature hardly ever utilized in the industry is Automated Endorsement Analysis. With the risk of depositing items twice in RDC increasing, this single capability can become a game changer.
  10. Distributed Recognition Reporting: Another mystery to many banks is the automation levels of distributed capture points. Managed Recognition can be utilized to help solve this management issue.

2013, 2014, 2015… the future of straight-through-processing of checks remains an elusive target for many banks. However, improvements in technology, along with strong market forces for cost-effective pricing models, now deliver exceptional tangible and intangible value with immediate savings in a wide range of workflows.

For more information on available check recognition solutions, visit our website at orbograph.com. The OrboGraph knowledge center is also a good resource for a more in-depth dive into industry topics.

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