Data Verification

10 Big Ideas for Banking in 2017

American Banker provides their view toward futuristic ideas with 10 Big Ideas for Banking in 2017. It’s a combo of both cool and crazy concepts; each of the 10 predictions/ideas link to a more comprehensive look at the topic in question (also in a fun slideshow format). “Redefine a bank’s worth for the digital age,” for example, links…

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7 Thoughts on the Importance & Future of Blockchain in RCM

If you don’t know already, Blockchain is a ledger of records arranged in data batches called blocks that use cryptographic validation to link themselves together. Each block references and identifies the previous block by a “hashing function,” forming an unbroken chain, which is where we get the name. (We’ve discussed Blockchain in the OrboNation before for banking and…

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Orbograph 2017 Predictions for Check Payments

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

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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Leveraging the Cloud for Big Data Analytics

All across the healthcare space, data analytics are providing exceptional results to the companies whose livelihoods depend upon accurate projection of future trends based on current divergent information inputs. Leveraging the cloud as a central information depository and distribution point has proved beneficial to Johnson & Johnson. A manufacturer of medical devices and bioinformatics, pharmaceutical, and consumer-health…

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Digital vs. Traditional: What to Prepare For

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

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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The Devil is in the Details: A Parable of ONE KEYSTROKE

Steve McNair of FTP Consulting tells a great story about how a credit card processing company made a significant $$$ investment in system upgrades, which delivered “lower performance”. The customer blamed the solution provider — however, the system was running fine. Sound familiar? After nine months of working with the system, no one could identify the root cause of…

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Cybersecurity Awareness Month

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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Feds Plan to Take SSN Off Medicare Cards

Get ready for a new complication, er… challenge – The Centers for Medicare and Medicaid Services is readying the healthcare industry for the removal of Social Security numbers from Medicare cards by April 2019. From HealthData Management: In April 2018, CMS will start generating new MBIs for all living and deceased Medicare beneficiaries, with information systems and…

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