Automated Endorsement Analysis
Rachel Woolley, global director of Financial Crime at Fenergo, tells FinTech Futures that penalties against financial institutions have come “fast and furious” over the past few years.
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Check writers and depositors have become accustomed to a next day or two day check clearing process for the majority of items. But when an extended clearing process does happen, i.e. 2-3 days, it becomes a real inconvenience, especially for millennials accustomed to instant digital payments, or for those folks who still get payroll checks. There are many other examples.
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Pymnts.com explores the various hurdles banks face when taking that big — and increasingly necessary — step. They note that migrating to the cloud is a vital tool traditional financial institutions (FIs’) will need in order to compete with digital-native FinTechs.
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Ensenta/EPS has put together an excellent report exploring NINE DRIVERS OF MOBILE DEPOSIT GROWTH (You can download a copy HERE). They come out of the gate by noting that large financial institutions continue to invest in increasingly better mobile deposit user experiences for two reasons: Improving return on investment (ROI) Growing their deposit base Given…
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Modern bank consumers are more and more comfortable interacting with their accounts online, often from a portable device. It’s never been easier to make deposits — using an app on an always-handy phone — and see the “funds available” right in an account, reassuring the user that the money is indeed deposited and… available. MyBankTracker…
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Forbes magazine reports on a recent AI Today podcast wherein Casey Royer of USAA, a large US bank serving the military community, shared information on how the bank is adopting AI, how they’re using AI to broaden USAA banking offerings, make their operations more effective and efficient, and offer greater value to their growing customer…
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RemoteDepositCapture.com had a hunch that the Covid-19 pandemic would lead to an increase in RDC deposits (Mobile Deposit, Desktop, ATM, etc.). So, in late February, they started polling the industry, asking the following question: For Financial Institutions: What has been the rate of growth or decline in your mobile deposit volume over the past year?…
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OrboGraph will soon be launching a website refresh with the official market announcements around OrbNet AI and OrboAnywhere 4.0. Check recognition is a process which is not perfect, but the gap of unread items is closing. As technology approaches reading all legible items, it is important to look closely at “defect” items which did not…
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A new podcast at PYMNTS.com features a conversation with Michael Reed, division president of payments at Deluxe. The podcast covers a wide range of timely payments topics, including: Checks still widely used with Reed reporting $7 trillion total transactional amounts with $2 trillion from lockbox. How work-from-home mandates have forced businesses to rethink how they…
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Technavio, a leading global technology research and advisory company, has released a report indicating that the industry is poised to grow by USD 15.14 billion during 2019-2023, progressing at a CAGR of over 48% during the forecast period. Entitled Global Artificial Intelligence-as-a-Service (AIaaS) Market 2020-2024, a free sample of the report can be obtained via…
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