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10 Principles for Modernizing Your Technology

Even as we see our industry create and adopt newer and better, more precise tools for improving check processing and preventing fraud (we proclaimed 2019, remember, the Year of AI and Modernization), it's important to be aware of how to most effectively integrate new technology the current ecosystem in a manner that maximizes return on investment.

An article at Strategy+Business offers tremendous insight into various factors of which to be aware when climbing the information technology ladder. It's not as simple as just introducing a new technology and cutting a celebratory ribbon:

Understanding what to get right — the elements of your IT system necessary to reach your goals — is essential. Knowing how to get it right — how to plan, sequence, invest, design, and engage the enterprise around your technological modernization — is equally important. Some efforts fare better than others. We have distilled 10 principles that are common to successful efforts. You can think of them as essential guidelines for your digital transformation, from your legacy system to the platforms of the future.

Strategy+Business offers a helpful list of 10 principles they feel are common to successful efforts. "You can think of them as essential guidelines for your digital transformation, from your legacy system to the platforms of the future."

  1. Put Customer Value First
  2. Simplify Your Architecture
  3. Design for Flexibility and Speed
  4. Engage with Your Workforce and Culture
  5. Adopt a Services Mind-Set
  6. Plot the Journey before Starting
  7. Organize by Capabilities
  8. Be Agile and User-Centric
  9. Invest in Resources That Make the Change Stick
  10. Partner Based on Shared Values and Trust

You'll want to join OrboGraph and Alogent for a video webcast on October 22nd entitled Remote Roadshow: The Future is Now: Industry Insights and the Role of Data to Mitigate Check Fraud and Modernize Deposits.

There will be insights into how banking behavior has changed since the pandemic, and updates on the current check fraud landscape. Learn best practices around combating fraud and explore the latest AI, deep-learning, and real-time fraud prevention and detection tools that can be applied to bank and credit union payment workflows today. Click here to register!

Also, be sure to join us on Friday, October, 30, 2020, for the ORBOIMPACT Virtual Conference - Bank & Payments Sessions. The three hour agenda is full of rapid fire sessions covering a multitude of topics around AI and Machine Learning Technologies to fighting fraud. Click here to register at $0 cost.

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