Orbograph Announces Accura XV™ 2.1 at BAI Payments Connect
Successful check processing implementations in banking leads to remittance innovations
Las Vegas, NV, March 10, 2014 – Orbograph, a premier supplier of recognition solutions for the U.S. check processing market as well as electronic/paper automation solutions in healthcare revenue cycle management (RCM), announced today that the company will release Accura XV 2.1 for centralized and distributed processing targeting its traditional banking partners and clients as well as the remittance processing marketplace.
Accura XV, leveraging Orbograph’s Next Generation Recognition™ (NGR) Technology, is now providing improved efficiencies with near straight-through-processing in wide range of customer environments including:
- Teller image capture
- Branch image capture
- Remote deposit capture (RDC)
- Check cashing
- Point of sale (POS) environments
- ATM/kiosk deposit processing
- Medical deposit processing
- Remittance and bank lockbox
- Mobile RDC (most recently)
When activating the V100 mode, nearly all checks in retail transactions can be processed immediately without manual intervention. Next Generation Recognition also streamlines corporate deposits and RDC workflows limiting misreads to 2 in 1000 items, especially critical to reducing the balancing overhead of these time consuming deposits.
By applying similar concepts to remittance processing, significant efficiencies can be gained in both full payment and partial payment workflows which affects both retail and wholesale lockbox environments. V100 delivers an amount value on virtually every full payment, while partial payment processing becomes more efficient due to the low misread levels.
Andy Leonhardt, VP of Sales for Orbograph stated, “We have seen 15 new business partner/client implementations over the past year for a very diverse set of customer installations. Many of these retail environments had similar technical requirements to that of remittance processing as well as mobile RDC. By optimizing our solution in Accura XV 2.1, we are now able to deliver the Next Generation of technology to these marketplaces as well.”
“The adoption of Accura XV by three large financial institutions along with hundreds of smaller financial institutions in teller capture shows the tremendous power and flexibility of Accura XV. V100 can save as much as 78% in keystrokes in currently deployed teller capture sites,” stated Barry Cohen, Co-President for Orbograph. “Whether the needs are single item transactions or large, complex deposits, we are well positioned to driving efficiencies for the next several years.”
Orbograph (www.orbograph.com), a subsidiary of Orbotech, is a premier provider of recognition services and software for check processing in the financial industry and electronic/paper automation solutions in healthcare revenue cycle management (RCM). Orbograph technologies are in use in over 1,500 financial institutions, service bureaus and billers processing billions of checks and claims annually. Orbograph solutions are utilized by 20 of the top 30 U.S. financial institutions with in-house check processing. In healthcare payments, Orbograph P2Post and Orbograph E2Post utilize innovative EOB conversion technologies to facilitate and streamline the processing of payments and to automate the posting of receivables into practice management systems. Orbograph enables clients to envision more for by reducing costs and managing risk while ensuring that achieving more is a reality.
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NOTE: Actual performance may vary according to hardware used, configuration or other factors within your processing environment. Statistics cited in this release do not constitute guarantees of performance. For more information, visit us online at www.orbograph.com.