Orbograph 2017 Predictions for Check Payments

January 3, 2017 / 0 Comments

Within the first months of 2017, there will be a number of important market studies released related to check volumes via FED research, fraud losses (ABA Deposit Account paper), and retail banking (BAI).  As OrboGraph looks to the future in check payment innovation, we believe the following trends will feed market innovations. Check volume declines…

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Looking to 2017: Risk and Fraud

December 27, 2016 / 0 Comments

Andrew Davies, Vice President of Global Market Strategy, Financial Crime Risk Management at Fiserv, makes several great points about how quicker transactions – and the customer expectations attached to that speed – can be dangerous in terms of exposing fraud and theft opportunities. (Read it HERE.) Mr. Davies describes a “perfect storm of factors,” broadly consisting of: Greater demands…

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Digital vs. Traditional: What to Prepare For

December 13, 2016 / 0 Comments

BAI.org offers valuable insight into consumers’ adoption of digital interaction with their financial institutions via a document entitled “Digital Banking and Analytics: Enhancing Customer Experience and Efficiency.” The downloadable PDF provides great information about current and future use of digital interactive technology among bank customers, as well as a cogent overview of future expectations that the industry…

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The Life of a Check: Tree to Payment Processing

November 29, 2016 / 0 Comments

The folks at Crosscheck have put together a great overview of the life of a check – – starting at the tree (now that’s comprehensive) and advancing through the various legislative and technological steps that have kept checks speedy and relevant in the digital age. They also get into the nitty-gritty of check “construction” with…

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Are Banks Still Taking a Traditional View Toward Branch Technology?

November 22, 2016 / 0 Comments

New technologies by the FINTECH community continue to grab the spotlight in the market. FINTECH is pushing hard on digital payment varieties and all kinds of scenarios to make P2P, B2B, and P2B via mobile devices and new card/chips options, taking volume from the branches. Banks are looking for ways to better serve millennials, too.…

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Banking in the Next 5 Years: Video Interviews

November 15, 2016 / 0 Comments

Recipients of the 2016 FinTech Forward awards discuss how evolving technology will reshape banking in the next five years. Some of the key takeaways: Data, data, data. Huge value in data analytics for those who efficiently gather it. It will be crucial to respond to the shift occurring in the next five years toward “banking where and…

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Cybersecurity Awareness Month

November 1, 2016 / 0 Comments

In light of last week’s crippling web outage, it’s ironic to note that the Federal Deposit Insurance Corporation has declared October Cybersecurity Awareness Month. The FFIEC hosted a webinar entitled Getting the Most Out of Your FS-ISAC Membership for financial institutions on October 31, 2016. Cybersecurity is, of course, crucial in the fraud prevention workflow, and last week’s outages…

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Top 5 Tech Innovations Your Bank Can’t Ignore—and Why

October 18, 2016 / 0 Comments

We’re excited to see that, of the Top 5 Tech Innovations Your Bank Can’t Ignored, we can actually contribute significantly to three of them! Let’s call them the “Key 3”: Continue to embrace Check 21 Leverage electronic workflows Automated tellers Part of the shared theme of the Key 3 is that the branch bank is far from obsolete. Online…

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How Will Banks React to the Blockchain?

September 13, 2016 / 0 Comments

If you’re not altogether comfortable with your grasp of what is being called the blockchain, you are not alone. Fortunately, a new book by William Mougayar called The Business Blockchain: Promise, Practice, And Application Of The Next Internet Technology comes to the rescue. As Banking Exchange’s Steve Cocheo points out in his article about the book, you’ll have to read…

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Bank of America: Shrinking Workforce & Fewer Branch Locations

July 19, 2016 / 0 Comments

Bank of America has 23% fewer branches and 37% fewer workers than in 2009, the bank said in a recent presentation. Further, CNNMoney reports that they plan to cut another 8,000 jobs from their consumer business over time. Digital transactions are way less expensive and keep customers happy. In fact, BofA said it costs less than a tenth…

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