Retail Banking

Life After “Death” – Consumers Still Find Checks Compelling

“Until about five years ago, I used to carry my checkbook everywhere,” writes Lainie Petersen in the Money Crashers blog. “In fact, some of my purses even had a special compartment that provided easy access to my oft-used pad of checks. Nowadays, however, I leave my checkbook at home. In fact, I can’t remember the last time…

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Would Motion Code Protection Against Credit Card Fraud Increase Check Fraud?

A French digital payment security company called Oberthur Technologies (OT) thinks it can pretty much eliminate credit card fraud with a new technology it calls Motion Code. What’s Motion Code? It’s basically a means of changing static CVVs to dynamic CVVs, changing every hour. If a bad guy gets your card, it would only be useful for…

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Fed’s New Payment System & ECCHO Webinar: Good News for the Future of Checks

Last month at the RDC Forum: Atlanta, an event hosted by RemoteDepositCapture.com, a new unified platform for processing check and ACH transactions was discussed by a Fed spokesman. It’s expected to make its debut at the central bank later this year. The changes are a modernization of the Fed’s own internal systems, and appears to hold…

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Has Technology Stripped Our Banks of Human Values?

Recently we looked at whether or not the bank teller and associated “human touch” was disappearing from the banking experience (Verdict: happily, bank tellers are not yet “endangered species.”) In this interesting take from India, the writer, a sociologist, wonders whether the very same tech that makes transactions quick and easy – – mobile apps,…

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Orbograph Client Conference Summary: Payments and Check Update

To say the 2017 Orbograph Client Conference in Atlanta turned out to be a great event would be shameless self promotion, which we would never do.  So speaking objectively, it all started with a must-see introduction movie trailer. Then, on the check and payments side, we recruited a number of the best companies and speakers in…

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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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Bank Tellers: Endangered Species?

To a bystander watching people buy mochas with wristbands and transferring funds to and from their account via iPhone, the idea of going to a bank and dealing with a human being may be a quaint bit of yesteryear. An actual human being interacting with customers during banking transactions? What next – – rotary telephones?…

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“Go Ahead, Write a Check for Your Coffee,” Just Not for Beef Jerky

Gert Watkins just become the poster child of checks in an article about the reality of check writing. The Wall Street Journal article, posted by former colleague and friend Kathy Strasser, explored the dynamics behind why checks still exist and what the leading motivations are. Of course, when it comes to checks, technologists want to bash…

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Did the 2016 FDIC Conference Deliver Short-Term Success?

The FDIC 2016 Community Banking Conference provided a foundational approach for the market. With the theme of Strategies for Long-Term Success, four conference panels discussed the community banking model; regulatory developments; managing technology challenges; and ownership structure and succession planning. Chairman Martin J. Gruenberg announced that community banks today account for 13 percent of banking industry assets…

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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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