Conix releases ORBS-X payment balancing system

Source: CONIX Systems

CONIX Systems Inc., a leading international provider of payment processing solutions to the financial services industry, announced today its latest solution for the payments industry, ORBS-X, a next-generation bank payments balancing system.

ORBS-X is a Web-based solution designed to replace CONIX's On-Line Reconcilement Banking System (ORBS) balancing system, which is currently the predominant reconcilement system in use by the top 26 banks today. CPCS customers who are migrating to a server-based payments system need a reconcilement package with the functionality of their host-based ORBS system. ORBS-X, which is platform independent, can operate in any environment, across a scale of large to medium financial institutions. CONIX is also providing an "ORBS-Bridge" product that will enable its current customers who have chosen to move to IBM's Payments Director the ability to continue balancing work using their existing host-based ORBS.

Additionally, ORBS-X features an automated workflow that enables greater control and prioritization. The system also uses easy-to-understand error codes that save operators time in resolving issues such as extra items, transpositions, debit/credit confusion, and misreads of large dollar amounts. Users can also build their own adjustment codes.

"We wanted to provide a migration path for our loyal ORBS customers," said Frank Stokes, president of Technology for CONIX Systems. "With ORBS-X, we have developed a product that simplifies the balancing process and is able to run in any environment, while retaining the rock-solid reliability our ORBS customers have come to expect."

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