Restrictive Endorsements a Big Part of Regulation CC Changes

January 16, 2018 / 0 Comments

The Expedited Funds Availability Act (EFAA) and the Check Clearing for the 21st Century Act (Check 21 Act), announced in 2014, will have amendments effective July 1, 2018. We learn this via the Federal Reserve Board (FRB) publishing in the Federal Register final amendments to Regulation CC (Availability of Funds and Collection of Checks). These amendments contain…

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What is the Relationship of Next Generation Check Recognition to the Top Five Retail Banking Trends for 2013?

Visionary Aite Predicts Payments Evolution

January 11, 2018 / 0 Comments

A new year means new opportunities, and Aite Group’s Top 10 Trends Report tells us to be ready for change in 2018! It looks to be an amazing year of challenges for retail banking payments as well as wholesale banking. Note: Both sites also feature a link to their Top 10 Trends in Financial Services, 2018  summary…

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The Reappearing Check: Maintaining the Magic in 2018

January 4, 2018 / 0 Comments

An interesting new white paper from Digital Check explores the expected demise of paper checks – – and how, as if by magic, the “expected” suddenly did not occur. We all know the drill: 50 billion checks written in the 90s; 20 billion checks written in 2013 – – – do the math, and at…

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Will Santa Claus Take Cryptocurrency?

December 27, 2017 / 0 Comments

It was only a few weeks ago that we reported that Bitcoin is trading on Wall Street in the futures market, and all of the persons who’d jumped on that train early were being hailed as forward-thinking geniuses. In a bit of an anti-holiday spirit message (well – they mention Santa at one point), Huffington Post…

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Mobile Remote Capture Race – Who’s Winning?

December 19, 2017 / 0 Comments

One of the reasons check volume has stabilized is due to the marriage of the “tech evolution in check capture” and old-school paper…made possible by remote capture apps that are offered by nearly every major bank. The 2016 Mobile Deposit Benchmark Report, released Sept. 14 and put together by Futurion, a fintech and digital commerce research…

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Faster Payments May Not Be Fast Enough…To Market

December 13, 2017 / 0 Comments

They are called the Faster Payments Task Force. They’ve chronicled 252 meetings and teleconferences, 19 surveys and votes, and 120,000 estimated hours of work, the chronological equivalent of 13.7 years. The output is two impressive strategic reports totaling 126 pages, part one released a year ago this month, part two in July. And in retrospect, that…

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OrboGraph Featured in CIO Applications Magazine as Top 25 Banking Technology Solution Provider

December 11, 2017 / 0 Comments

OrboAnywhere offers banks straight-through processing automation as well as risk/fraud prevention Billerica, MA, December 11, 2017 – OrboGraph, a premier developer and supplier of intelligent electronic/paper automation leveraging recognition technologies, image validation and check fraud detection for the U.S. check processing and healthcare revenue cycle markets, was recently featured in the November edition of CIO Applications…

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The New Age of Check Fraud

Bank Complexity/Paradox Holds Back Innovation in Check Fraud Prevention

December 5, 2017 / 0 Comments

Fraud prevention solutions have evolved significantly in the past 3-5 years in terms of improved analytics, business intelligence, risk scoring, image analysis, platform deployment, and decision support. However, the deployment cycles of these solutions can be complex and challenging. When you weigh IT overhead, project costs, systems integration, security, infrastructure — just to name a…

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Australia’s New Payments Platform: Watch Out for Fraud, Say Experts

November 20, 2017 / 0 Comments

The Land Down Under is introducing New Payments Platform (NPP), the modestly-named and soon-to-be-launched system that will enable almost instantaneous transactions between banks and bank accounts, any day of the week. With convenience comes a level of jeopardy. Finder.com.au insights manager Graham Cooke told The New Daily that the new platform could expose consumers to fraud risks. “While…

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Out of the Trenches in the Battle Over Bank Customer Data

November 14, 2017 / 0 Comments

Fintechs and banks have been at odds with one another over customer information since the first moment that someone somewhere decided “fintech” was an actual word. American Banker reports that the icy relationship may be thawing. Fintechs have been arguing that they need to access bank customer account data to provide a variety of services,…

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