DALLAS, July 27, 2007 (PRIME NEWSWIRE) -- Automatic check processing and character recognition tools have been combined through an innovative partnership between AudioTel Corporation and Orbograph, resulting in a streamlined, accurate and nearly keyless solution for the banking and utility industries. This combination is the first time a remittance application provider has collaborated to use Orbograph's patented Key-Pay(r) Convene(tm) technology.
Using AudioTel's RemitPlus solution, one quick scan replaces multi-step manual data entry for check-posting and item processing. In one step, check and payment information are scanned, endorsed, digitally captured, applied to the account, and then batch processed and deposited. RemitPlus allows any company or financial institution that receives multiple checks each day, week or month to affordably automate by decreasing staff, archiving checks and data, while making funds accessible more quickly.
Key-Pay(r) Convene(tm), Orbograph's patented Key-Pay(r) technology, is a fully Internet-based distributed data entry/reject-repair solution, which is tightly integrated with state-of-the-art advanced character recognition (OCR/ICR) tools. Key-Pay(r) Convene(tm) automatically sends image snippets of only the characters which cannot be read by the recognition engine to data repair personnel. Key-Pay(r) Convene(tm) continuously monitors and verifies output accuracy and throughput in order to offer the highest possible quality standards.
The combination of digital scanning with a data entry/reject-repair batch process reduces costs and improves accuracy and efficiency in automated forms processing. The benefit to businesses, banks, utilities and other institutions is a more accurate, potentially keyless solution. Merchant capture of check data becomes a scan and transmit system, with all exception items being keyed offsite.
"As a result, our remittance and lockbox customers will be able to have almost anything keyed from any form or check without having to staff up for load leveling," said Roni Boker, Orbograph Key-Pay(r) Convene(tm) product manager. "This new paradigm changes remittance processing with the same magnitude that CAR/LAR (Courtesy Amount Recognition and Legal Amount Recognition) technology did in the past."
"What really appealed to us about Key-Pay(r) Convene(tm) is that it is not a 'seat-based' model that works one-to-one, but rather a fully integrated backend snippet many-to-many concept that can be turned off or on as needed," said Fred Campos, vice president, AudioTel Remittance Products.
About AudioTel
AudioTel Corporation, a privately held company, specializes in products and services for financial institutions, including integrated hardware and software solutions for item processing, imaging, remittance, merchant capture, branch capture and document management. Known as a leader in Internet and telephone banking, AudioTel Corporation provides robust back-office and retail banking platform solutions for financial institutions including software, interactive Website design and hosting. AudioTel is based in Addison, Texas, 20 miles north of downtown Dallas. Founded in 1993, AudioTel's customer base has grown to more than 1,000 financial institutions. For more information about AudioTel Corporation, go to www.audiotel.com or www.remitplus.com.
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About Orbograph
Orbograph (www.orbograph.com), a subsidiary of Orbotech (Nasdaq:ORBK) based in Billerica, Mass., is a leading developer of recognition solutions for the U.S. check processing and business process outsourcing markets. Orbograph's technologies are in use at hundreds of banks and financial institutions and service bureaus across North America, processing millions of documents each day. Through its recognition solutions, fraud detection, business process outsourcing technologies and image quality assurance applications, Orbograph enables customers to reduce costs, improve operational efficiencies and achieve rapid return on investment. For more information, contact Roni Boker at roni.boker@orbograph.com or 978.901.5048.