Check Processing

Open banking is expected to grow rapidly Complex regulations are common worldwide Open banking can “dismantle silos” A recent post at Forbes.com points out that open banking is revolutionizing the financial services industry by enabling secure data exchange between banks and third-party providers. The European Union’s Revised Payment Services Directive (PSD2) has played a crucial…

A major transformation is occurring in the banking industry Physical bank branches are still “essential” Cash automation strategies create a competitive edge Forbes.com reports that the banking industry is undergoing a major transformation, as financial institutions strive to meet the quickly evolving needs and preferences of modern customers. For instance, according to a recent survey,…

Americans tend to maintain bank accounts over long periods Depositers feel it’s a “hassle” to switch accounts There are steps financial instituations can take to attract depositers Brand loyalty — where individuals or business continue to purchase products or services from a specific company or professional in spite of competitors offering a similar product or…

BMO announces that it’s making the leap to quantum computing Quantum computing has been recognized as one of banking’s ten most important tech trends “We are in quantum because we do believe that it holds transformational potential.” According to a recent post at PYMNTS.com, BMO Financial Group, one of the largest banks in North America,…

Today’s digital landscape demands advanced tech for bank customers Data is now a tool for elevated customer service Banks using “data as a customer service tool” have seen revenue increase We’ve made this important point in many earlier posts and news items we’ve shared: In today’s digital landscape, banks must leverage advanced technologies to meet…

President Trump Announced “U.S. Crypto Reserve” via his Truth Social platform Ondo Finance unveils “suite of infrastructure products designed to bring capital markets onchain” SWIFT Network adopts Hedera Tech Earlier this week, President Trump made an announcement Via his Truth Social media platform that has sent ripples through the payments industry. It is his intention to…

The Trump administration has shut down the Consumer Financial Protection Bureau (CFPB) The freeze of the CFPB makes enforcement unclear There are several reasons why financial institutions should continue their open banking efforts As the new administration continues to make its adjustments, one major change that is affecting the banking industry is the halting of…

Is Elon Musk’s DOGE targeting checks? Some cite Musk’s desire to get involved in payments Many persons would be “left in the lurch” if checks were eliminated In a recent post from Department of Government Efficiency (DOGE), the Elon Musk-led advisory group proposes another drastic change — this time, eliminating paper checks. A post on……