Putting Your Financial Operations on a Safer Platform

Human beings might have means to go out and achieve everything under the sun, but at the same time, they still cannot realize a feat more significant than growing at a consistent clip. This progressive approach, on our part, has already got the world to hit upon some huge milestones, with technology appearing as a major member of the group. The reason why technology enjoys such an esteemed stature among people is, by and large, predicated upon its skill-set, which ushered us towards a reality that nobody could have ever imagined otherwise. Nevertheless, if we look up close for a second, it will become clear how the whole runner was also very much inspired from the way we applied those skills across a real world environment. The latter component was, in fact, what gave the creation a spectrum-wide, and consequentially, kickstarted a tech revolution. Of course, this revolution then went on to scale up the human experience through some outright unique avenues, but even after achieving such a monumental feat, technology will somehow continue to produce the right goods. The same has grown increasingly evident over the recent past, and assuming one new fintech-themed development shakes out just like we envision, it will only make that trend bigger and better moving forward.

Bit Builders Inc., creators of the NextGen Digital Banking platform, has officially announced a partnership with OrboGraph, a global leader in check and payment processing automation, to improve fraud detection across the financial landscape. Under the agreed terms, the partners will jointly conceive a turnkey solution, which different institutions can leverage to curb check fraud at the paying bank as well at the depositary location. Talk about this solution in a bit more detail, it will let the bank fraud detection personnel seamlessly review all the suspect items identified by OrboGraph’s Anywhere Fraud transaction and image forensic detection algorithms. Next up, it will bet on Bit Builders’ NextGen Digital Banking platform, alongside its assortment of specialized connectors, to adapt to an institution’s individual processing environment. This, in turn, should go a long way when it comes to retrieving images directly from the bank’s check imaging system via APIs. Not just that, banks can also provide the relevant transaction information through either index files or APIs. Hold on, we still have a few bits left to unpack here, as we still haven’t discussed how banks that choose to use technology in question can further foolproof their operation with an option to generate daily return files in virtually any format. Such versatility makes it possible to support a smooth and completely automated handoff for returns processing. However, daily return files aren’t the only facet where Bit Builders and OrboGraph have tried to give users maximum flexibility. You see, their latest brainchild also empowers banks to pick between a fully managed cloud-hosted solution or a self-managed on-prem option. Rounding off the highlights is an all-encompassing setup, which in place to allow users to run reports for both current and historical fraud analytics.

“Fraudsters are evolving at an unprecedented pace and our partnership with OrboGraph enables us to deliver a game-changing fraud detection solution to our clients.” said John Madaras, President and CEO of Bit Builders Inc. “The NextGen Digital Banking platform, with its industry-leading digital experience, provides an ideal user experience for fraud review, and its built-in host and imaging platform integrations facilitates the deployment of the OrbNet Forensic AI technology to financial institutions, regardless of size or operational complexity.”

Fair enough, founded in 1999, Bit Builders’ rise to prominence is largely rooted in its ability to deliver a bank experience that fulfills our security and scalability desires in an equally effective manner. The company’s excellence can also be wholly validated if you consider that it has been a leader in the space of financial services software for over 25 years and still counting.

Moving on to OrboGraph, it has made a name for itself by delivering at our disposal industry-leading recognition solutions, payment negotiability, and check fraud detection capabilities. A testimony for this partner is visible in its clientele, which has more than 4,000 financial institutions, service bureaus, and clearinghouses, all trusting OrboGraph to process billions of checks and payments annually.

“We are thrilled to partner with Bit Builders in this transformative journey. By uniting OrboGraph’s fraud detection expertise with Bit Builders’ exceptional user experience, we are creating a synergy that will reshape how many banks combat fraud. Our shared vision is to empower financial institutions to stay ahead of fraudsters and provide the best security measures for their customers,” said Barry Cohen, CEO of OrboGraph.