BURLINGTON, Mass., Jan. 26, 2023 (GLOBE NEWSWIRE) -- OrboGraph, a premier supplier of check processing automation and fraud detection software and services, announced the release of OrboAnywhere Version 5.0 to business partners in December 2022. Version 5.0 delivers major architectural modernization and is applicable to all OrboAnywhere Modules.
This version includes a number of impressive improvements:
- Anywhere Recognition:
- OrbNet AI supports internal bank documents and remittance stubs on all amount field reads
- OrboTool direct sample testing mode
- New streamlined installation
- Anywhere Validate:
- Improved results will reduce false positives for select payment negotiability tests
- New AI-based date recognition improves identification of stale and post-dated checks
- Anywhere Fraud:
- Streamlined installation process
- Improvements in fraud detection over previous versions
- Anywhere Payee:
- Free reading of payee field on handwritten checks
- Performance improvement on free reading of payee field on printed checks
- Improved match rates against account holder name and data dictionaries
- Anywhere Positive Pay:
- Improved coverage for payee alterations
- Reduced false positives and payee scrubbing
- Anywhere Compliance:
- New payee free read can be used for transaction monitoring
OrboGraph also tested the latest NVIDIA GPU technology, addressing cost-effective hardware deployment needs in dedicated, virtual, as well as cloud-hosted environments for low-volume clients and high-volume service bureaus. New GPU models include the A2, A10, A30, and A100.
Avikam Baltsan, Chief Technology Officer, commented on the release: "The OrbNet AI Innovation Lab used a pure data-driven development approach to complete the migration of all primary check processing workflows to OrbNet AI with deep learning technology. We delivered 99% recognition with 99.5% accuracy on CAR/LAR reads and continued with Automated Signature Verification and Check Stock Detection, culminating with all date fields including date and payee. With access to huge volumes of data and strong domain expertise, OrboGraph is positioned to outperform traditional systems and will continue to lead the market."
"This new release provides our business partners and direct user clients with a continued migration path to cost reduction, risk and fraud mitigation, and compliance," stated Joe J. Gregory, Chief Strategy Officer at OrboGraph.
About OrboGraph
OrboGraph LLC. and OrboGraph LTD. (www.orbograph.com), an independent company of Revenue Management Solutions (RMS), is a premier developer and supplier of recognition solutions, payment negotiability, and check fraud detection for the U.S. check processing market. Nearly 4,000 financial institutions, service bureaus, and clearinghouses rely on OrboGraph technology to process billions of checks and payments annually. # # #
Contact Information:
Joseph Gregory
Chief Strategy Officer
joe.gregory@orbograph.com
(617) 982-0097
Related Images
Image 1: OrboAnywhere with OrbNet AI
OrboAnywhere Suite of Check Processing Automation and Check Fraud Detection Solutions with OrbNet AI
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