Check Processing
Physical banks were once widespread and expanding quickly Bank of America continues to invest in physical branches Customers value “speaking to a human” Only a couple of decades ago, financial institutions across the US were aggressively expanding their physical footprint, opening branches in new territories AND increasing more branches in locations to make it more…
Read MoreOutdated back-end systems drive up costs New tech must take into account legacy systems 91% of businesses still use checks regularly We’ve said it before, and we’ll say it again: Platform modernization is a critical priority for banks, driven by competitive pressures and the need for greater efficiency. However, these transformative programs are fraught with…
Read MoreModernizing back-office systems is now vital Outdated systems are harder to maintain A rapidly evolving industry means FIs need to keep up BAI posted an article that first appeared at greensheet.com, discussing the fact that financial institutions must prioritize modernizing their payments back-office to stay competitive and defend against fraud. We see in report after report…
Read MoreNew AI infrastructure optimized for speed and latency with improved check fraud detection Burlington, MA, May 8, 2025 – OrboGraph, a leading provider of check fraud detection and image recognition solutions, is excited to announce the general availability of their new OrboAnywhere Turbo 6.0 release. The release is focused on speed, efficiency, and modernization of…
Read MoreSome pundits predict “the end of checks.” A Trump executive order has eliminated checks from federal government payments It is unlikely that the public in general will follow suit. “I think we’re probably rushing towards the point where checks just aren’t going to be a thing anymore.” This is a quote directly from a new…
Read MoreIn case you missed it, over the past month, we have published incredible content on our OrboNation Blog and Modernizing Omnichannel Check Fraud Detection. Review the latest OrboNation Newsletter online or via PDF download.
Read MoreThe media claims “checks are dead” Reality shows checks surging Active check usage demands strong security What mainstream media is saying about paper checks: Washington Post – 2023: “Paper checks are dead. Cashing is dying. Who still uses them? ABA Banking Journal – 2024: “Is it time to kill the paper check?” Fortune.com – 2025:…
Read MoreModernizing tech presents a formidable challenge Sheer volume is a primary obstacle Many FIs face the issue by relying on outdated legacy technology In a recent discussion with BAI.org, Carlos Lopez, Strategic Initiatives Analyst at Jack Henry addresses the challenges financial institutions face when it comes to modernizing their technologies. As we all know, FIs…
Read MoreOpen 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…
Read MoreA 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,…
Read More