Fraud risk assessment service will target risk within bank silos
Orbograph, a leading supplier of recognition solutions and fraud detection systems for the U.S. check processing market as well as end-to-end electronic payment solutions for healthcare revenue cycle management, announced today they will sponsor Chip Kohlweiler of Deloitte at BAI Payments Connect as a special consultant to provide financial institutions in the U.S. with a fraud and risk assessment service tailored toward today’s enterprise payment environment.
Spearheaded by Kohlweiler, Senior Manager in Deloitte Forensic Services, the initiative’s focus will leverage Deloitte’s expertise in financial crime operations and strategy development to improve detection models and target risk silos within U.S. financial institutions.
Kohlweiler and Orbograph initiated the activity to support financial institutions with optimization of their risk/fraud systems in enterprise payments including check, EFT, wire and ACH while yielding a reduction in fraud losses for the financial institution and protecting the interests of bank customers. The result of the assessment will provide a detailed analysis on:
- The strategies and concerns toward payment fraud risk by bank decision makers
- Supporting data points and technologies which can improve loss prevention targets
- Business case ROI for improved enterprise or silo adoption of new techniques relating to customer protection, risk reduction, compliance implications and enterprise integration
- Operations reviews focused on reducing labor costs to review alerts/cases
Orbograph will facilitate the initiative via a series of webinars and public appearances by Mr. Kohlweiler, beginning with an appearance at BAI Payments Connect in Phoenix, AZ on March 11th. Kohlweiler will be available for personal appointments and will be presenting in select Orbograph business partner booths.
“Based on feedback with many institutions, we believe financial institutions are generally concerned about the future of its payment platforms, yet are unable to implement a solution due to a wide range of technological and business constraints,” stated Barry Cohen, Co-President for Orbograph. “We are excited to be working with a firm which can help bridge the gap in check and other payment vehicles.”