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Billerica, Mass.-based Orbograph Ltd. took advantage of last week's BAI TransPay 2002 show to showcase the first implementation of its OrboCAR Accura recognition offering. The first phase of the implementation at Intrust Bank of Wichita, Kansas achieved check recognition accuracy levels of 99.6 percent (4 misreads per 1,000 items), while maintaining read rates over 80 percent, company officials say.
"OrboCAR Accura reduced our POD balancing requirements by 73 percent on transactions out of balance from misreads," said James Simon, vice president of Intrust Bank. "This has further streamlined our end of day processing. With branch capture, it is one of the major factors why we can keep our branches open until 8:00 PM and provide same day deposit credit for our customers. It provides Intrust with a major competitive advantage."
The first phase was installed at Intrust in the first week of February. "There's one other phase to it that we'll be installing very soon," says Joe Gregory, vice president, sales and marketing, Orbograph. "That particular phase has to do with identifying mis- encoded items. This allows a bank to leverage this into a different area that they normally haven't been able to."
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