Orbograph Announces New Business Partnership with CheckALT for RDC
Automation for RDC™ check recognition solution streamlines remote deposit capture
Billerica, MA, May 2, 2013 – Orbograph, a leading supplier of recognition solutions for the U.S. check processing market as well as end-to-end electronic payment solutions for healthcare revenue cycle management, announced today that CheckALT will utilize its Automation for RDC™ check recognition solution to streamline remote deposit capture (RDC) processing. Automation for RDC will also improve CheckALT client efficiencies by virtually eliminating data entry and balancing overhead for workflows including back office scanning and mobile deposit processing.
CheckALT, a premier provider of Check 21 RDC, provides a unique and flexible check capture solution which drives down check processing costs and transaction fees. By providing a complete RDC system for consumer or corporate clients, CheckALT streamlines the deposit process and enables clients to deposit checks with any financial institution. CheckALT clients typically are up and running within a single week’s time due to an impressive combination of comprehensive software testing and validation via its onboarding methodology.
Orbograph’s Automation for RDC, which utilizes over 20 check recognition capabilities, will also be deployed by CheckALT to provide processing for its corporate lockbox clients with the following:
- Image Quality & Usability Assurance (IQUA) to minimize image defects
- Image Integrity and MICR Repair to repair scanner rejects
- Automated Endorsement Analysis (AEA) to check the presence of an endorsement on the back of the check
- Money Order detection and recognition
- Signature Detection to confirm presence of signatures on personal and business checks
- Date Field Validation to ensure the check is not post dated
- Payee Name Verification/Payee Matching to validate the account holder name on checks
- Payer or Maker recognition for operational and marketing purposes
“As a Check 21 application provider that delivers image cash letters/X9.37 files to 200+ financial institutions daily for a wide range of industries including credit unions, community banks, mobile payment firms, multi-national and money service businesses, a fast software deployment model is paramount to our customer conversions. Deployment of Orbograph’s recognition solution eliminates hardware dongle requirements and gives us flexibility to install our software in a matter of minutes. This partnership is in strategic alignment with focus of facilitating payments anytime, anywhere,” stated Shai Stern, Co-Chairman and CEO of CheckALT.
“We are delighted to support the goals of CheckALT as a new business partner. The market needs a player that can provide significant flexibility to the RDC model and address workflow on an integrated platform,” stated Barry Cohen, Co-President of Orbograph. “Automation for RDC will deliver on the benefits of automated processing for an improved client experience via even greater efficiencies of the CheckALT products.”
CheckAlt is a Check 21 application company providing Remote Deposit Capture (RDC), eCheck services via the web & and mobile wallets. CheckAlt’s clients include banks, credit unions, MSBs (money service businesses), insurance companies, municipalities, utilities, and small and medium-sized enterprises. CheckAlt delivers x9.37/ICL files to 200 + financial institutions daily and possesses the most robust integration tools in the industry. CheckAlt is the fastest way to move money with data. For more information about CheckALT, visit the company’s website at www.checkalt.com.
Orbograph (www.orbograph.com), a subsidiary of Orbotech, is a premier provider of recognition-centric services and software for check processing in the financial industry and end-to-end electronic solutions in healthcare revenue cycle management (RCM). Orbograph technologies are in use in over 1,000 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 automate posting of receivables into practice management systems. Orbograph enables clients to envision more for their organization 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.