Bank Branch

Check Fraud: The Corporate World Provides a Big Target

By orbograph / October 16, 2018 / 0 Comments

While the consumer “civilian” world has pretty much learned and accepted the “don’t take checks from strangers” rule, the corporate world is both slow to adopt that guideline — and often unable to. This is due to the fact that suppliers like the “float” advantage they enjoy with check payments. (“We paid you on Tuesday…

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Banks Lose $2.92 per Defrauded Dollar

By orbograph / October 3, 2018 / 0 Comments

Is it important for financial institutions to deploy the best possible tools to fight fraud? Consider this: According to LexisNexis Risk Solutions in its 2018 True Cost of Fraud study for the financial-services sector, for every dollar of fraud a financial institution absorbs, it drains an additional $2.92 in associated costs — that’s up 9% from…

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Here Are 5 Reasons to Re-Think Remote Cash Capture

By orbograph / September 19, 2018 / 0 Comments

While steadily declining in overall usage, cash remains “as relevant in retail as it has ever been,” according to an article by Bob Meara, Senior Analyst with Celent, in an article previewing his presentation at November’s AFP 2018, “Fewer Cash Receipts Still Mean Big Retail Challenges.” RCC (Remote Cash Capture) is noteworthy for the collaborative service delivery required to…

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check fraud

Millennials Become Targets…for Check Fraud

By orbograph / September 12, 2018 / 0 Comments

There are many reasons for the resilience of checks (including the small- and mid-sized businesses that rely on the paper check’s “float” for accounting purposes), but one important factor has been fear of fraud and security risks in newer digital transactions. Digital transactions are indeed growing at a rapid rate — particularly among millennials, many…

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legacy technology

Modernizing Legacy Technology; A Path to Success

By orbograph / September 5, 2018 / 0 Comments

Alfredo Alvarez, a principal at Liberty Advisor Group, writes in his article how modernizing legacy technology wins the digital customer: Nimble new entrants and rapidly increasing customer expectations for digital products and services continue to disrupt financial services firms. In response, financial services organizations have made significant investments in agile development and DevOps (development and…

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endorsements

USA Today Article “Endorses” Endorsements!

By orbograph / August 28, 2018 / 0 Comments

Last week, USA TODAY published a consumer-focused article explaining new deposit requirements from a number of banks: Depositors must now include the phrase “For Mobile Deposit Only” underneath their signature on all checks deposited using mobile apps. Some banks are also suggesting you add “For Mobile Deposit Only at (Bank Name)” or “For (BANK NAME) Mobile Deposit…

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A Better Space Makes for Better Banking

By orbograph / August 16, 2018 / 0 Comments

We’ve talked recently about how banks are, to a greater and greater extent, making significant investments in technology to make transactions both more convenient and more secure for their customers/members. But another path to maintaining and, indeed, growing a loyal customer base in the age of remote deposit capture via mobile device — and an…

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Deep Trends & Deep Learning in Banking & Payments

By orbograph / August 7, 2018 / 0 Comments

Payments 3.0 columnist George Warfel signs off of his last column for the site by noting what he considers deep trends to watch in banking and payments. One particular point he makes is something we’ve seen borne out again and again as cleverly-named payments technology brands appear and then either disappear or team with more established…

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Why Read RemoteDepositCapture.com’s Guide to Restrictive Indorsements

By orbograph / July 31, 2018 / 0 Comments

If you already know the difference between “indorsement” and “endorsement,” you’re the kind of professional who will benefit from the newly-released RemoteDepositCapture.com’s Guide to Restrictive Indorsements, available to purchase at their website. The report is authored by John Leekley, founder and CEO of RemoteDepositCapture.com, who is widely regarded as the leading authority on all things…

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How to Write a Check in 2018 – and the Implications

By orbograph / July 17, 2018 / 0 Comments

Admit it – you thought everyone knows the basics of check writing, and figured that the younger generation is not using checks. So who cares? Well, you might think this is the case, but there are fresh ideas in this article at the street.com including safeguards against check fraud, which, according to the ABA Deposit Fraud Study, saw…

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