The Technology Headlines DEMAND FORCASTING & AI | Page 34

THE
TECHNOLOGY
HEADLINES
10 BEST
ARTIFICIAL INTELLIGENCE
C O M PA N I E S
TO WATCH IN
2019
OrboGraph
Unleashing the power of AI and deep
learning in payment processing
..........................................................................................
AVIKAM BALTSAN
C O-P R E S I D E N T A N D
CHIEF TECHNOLOGY OFFICER ,
ORBOGRAPH
W
e have reached a stage where
Artificial Intelligence (AI) has
moved out of the pages of science
fiction and has become a reality of life. With
an immense potential to streamline business
operations and enhance decision-making, this
powerful technology has made its way into
numerous sectors including manufacturing,
education,real estate, banking, and healthcare,
just to name a few. AI’s contribution to
healthcare and banking is what makes it the
most remarkable technology of this era, as
these industries are active in modernizing
systems with the objectives of reducing
costs, improving accuracy and updating
infrastructures.
Today, companies in the healthcare and
banking sectors are paying significant
attention to solutions based on AI, machine
AUGUST 2019
learning and deep learning.
Among those, OrboGraph has
become a brand that customers
trust for its quintessential
solutions. With its US offices
in Boston, MA, the company
has introduced a number of AI,
self-learning, deep learning, and
cloud technologies. OrboGraph
delivers targeted intelligent
payment automation solutions
for check processing for banking
and remittance applications and
healthcare payment automation
for revenue cycle companies,
healthcare providers, large billing
companies, banks and clearing
houses.
Journey so far
In the late 1980s and early 1990s,
OrboGraph, a subsidiary of
Orbotech, started researching
promising technologies for
reading free-style handwriting,
as well as printed characters.
When the project was ready for a
market rollout in 1996, OrboGraph
launched its first courtesy amount
recognition (CAR) solution
designed to automate the check
payment processing for the
banking market.
Avikam Baltsan, Co-President
& Chief Technology Officer of
OrboGraph says, “When we
started, the mission was to
establish a technology that could
help with free handwriting and
reading printed characters. Today,
we are now a technology company
with a vision to enable AI, image
vision, machine learning, and
deep learning to solve problems
related to payments.OrboGraph
has progressed tremendously over
the years.”
Performance in banking and
healthcare markets
In the banking and remittance
markets, OrboGraph has carved
a niche for itself by delivering
new efficiencies with greater
accuracy, significantly reducing
operational costs and improving
a customer’s deposit experience.
Additionally, the system generates
new data elements for business
intelligence applications and back-
end machine learning systems.
OrboGraph’s legacy check
recognition, fraud prevention and
payment negotiability solutions,
now offered as part of the
OrboAnywhere suite, processes
for more than 4,000 financial
institutions, helping to automate
the process of paper-originated
negotiable items such as checks,
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