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U.S. Consumers’ Use of Personal Checks: Evidence from a Diary Survey

March 16, 2020

From the Federal Reserve Bank of Atlanta comes an informative overview of check usage entitled U.S. Consumers’ Use of Personal Checks: Evidence from a Diary Survey. The authors look at 1,600 individual transactions to gain an understanding of what check payments are currently used for—by dollar value, and by payee—and who uses checks (in terms of demographics and income).

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Nice Actimize & OrboGraph Webinar

March 12, 2020

OrboGraph recently co-hosted with Nice Actimize a dynamic webinar entitled Change is Inevitable – How Will You Respond? Along with OrboGraph’s Joe Gregory, Allegra Angus and Nithin Mangalore of Nice Actimize discussed with attendees different aspects of check fraud trends, best practices for combating check fraud, including incorporating machine learning and image analysis.

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Need to Stop Payment? Advantage: CHECK

March 2, 2020

The array of digital payment vehicles available is dizzying — Google Pay, Apple Pay, PayPal, Venmo — the list is long. Still, checks remain popular. And, it turns out, a better payment instrument when it becomes necessary to stop payment due to error or suspected fraud! MoneyWise describes easy step-by-step directions for canceling or stopping…

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Accelerated Funds Availability… The New Normal?

February 11, 2020

Accelerated funds availability allows depositors to instantly access the money they deposit via check. That way, there’s no waiting period for the check to clear and no penalty if the check writer’s account has insufficient funds. An article at BAI Banking Strategies by Victoria Dougherty, director of Payment Management Solutions, Fiserv, opens by wondering why…

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Cash is Almost Dead, According to MIT

February 4, 2020

Is cash becoming an endangered species? And, if so, is that good? Mike Orcutt, an associate editor at MIT Technology Review, has written what he calls an elegy for cash at the MIT Technology Review site, and includes some points to ponder regarding whether the demise of cash could actually be a negative development, as…

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The 2019 Federal Reserve Payments Study Illustrates Dynamics of Robust Economy with Payment Diversity

January 15, 2020

The Federal Reserve released the 2019 Federal Reserve Payments Study Executive Report on December 19, 2019. Based on 2018 compared to 2015, aggregate payment growth in “core noncash payments,” including debit card, credit card, ACH, and checks, were up as a whole by 6.7% representing an incremental 30.6 billion transactions valued at $97B! Comparing actual…

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check processing

Y2K: A Thing of the Past or History Repeating Itself?

January 9, 2020

In today’s world, abbreviations are utilized on a daily basis. Simple contractions such as “don’t”, “couldn’t”, and “we’ll” are all commonly used in the English language. In the banking world, abbreviations are most common in the date field, as many in society choose to abbreviate the year from 01/08/2020 to 1/8/20. Seems harmless, right? Maybe…

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2020-2030: Payments In The Next Decade

January 2, 2020

We love this time of year! It’s a week when everyone the payments industry can take a deep breath, celebrate successes, reflect, and then blog about the future. And now that 2020 is upon us, what better time to “look ahead” toward 2030! PYMNTS.com is one of the first publications to make a prediction related…

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A Look Back – and Looking Forward to 2020

December 24, 2019

And another year comes to a close! It’s been our pleasure to share observations, insights, and solutions from across the industry via the OrboNation Blog. As 2019 comes to end, we have much to be thankful for. Most importantly, however, we’re thankful for the clients and customers that are crucial to OrboGraph’s success. Looking back,…

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Intelligent Automation & Cloud-Specific Services for FI’s

December 18, 2019

As part of a recent series of blog posts about Intelligent Automation, Adam Swinglehurst of Accenture offered the chart below to illustrate the necessary “overlap” as AI solutions develop and improve. The role of intelligent automation is important to Chief Financial Officers (CFOs) across the globe. CFOs seek to drive efficiencies, create team capacity, meet…

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