Digital, Branch and Call Center Metrics; Are We Making Progress?

January 31, 2018 / 0 Comments

Cornerstone Advisors recently released their 2017 Cornerstone Performance Report for Banks. On the heels of this report, Gonzo Banker website offers their insight into how banks’ operational performance has changed over the past 10 years based on the information contained in the report. There’s a long list of metrics that have changed dramatically, but they narrowed it to 10…

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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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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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Faster B2B Payments: Don’t Overestimate the Challenge

October 31, 2017 / 0 Comments

While I was at Money20/20, there was a session called “B2B Payments: Investment is Heating Up & Paper Checks are Under Fire!” The session included 5 industry payment experts who were primarily taking pro-check positions. One of the startling observations which I heard was that they had little empirical evidence substantiating a significant business case…

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The Payments & Financial Services World is in Vegas, Baby

October 24, 2017 / 0 Comments

It’s advertised as “The World’s Largest Payments & Financial Services Innovation Event,” and it’s taking place right now (October 22-25) in Las Vegas – – the 2017 Money20/20 event expects 11,000+ attendees, including more than 1,700 CEOs and Presidents, from 4,500 companies and 85 countries. Their agenda is comprehensive and includes themes like PAYMENTS, BANKING, COMMERCE, SECURITY,…

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tower of babel

Artificial Intelligence: Only Getting Better

July 26, 2017 / 0 Comments

With all of the tech we count on that uses actual experiential learning to better read handwriting on a variety of payment types — including checks, for instance — we probably should have seen this coming. Last September the white coats at Google added something called the Google Neural Machine Translation system (GNMT) to their translation tool.…

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online banking

How Banks Can Embrace Technology Through “Fintegration”: Podcast Summary

July 25, 2017 / 0 Comments

Here’s a terrific podcast interview via BAI Banking Strategies that you should listen to during your commute. In it, Andres Wolberg-Stok, Citi FinTech’s global head of policy, talks about best practices and approaches to incorporating financial tech – FinTech – in financial organizations. An important point Wolberg-Stok makes early in the conversation is the fact that,…

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