Check Processing

Some major retailers have announced they will no longer take checks “High Dollar Services” remain popular for checks Check usage remains prevalent enough to merit effective security measures PaymentsJournal reports that, in spite of news that Target stores has stopped accepting checks (joining other major merchants such as Whole Foods and Aldi) the “grand old…

We’re beginning the second half of 2024, a great time to examine the trends of the year. In a recent post, IBM examined what they consider the seven top financial services trends of 2024. They are as follows: Generative AI Hybrid cloud technology Cybersecurity risk management Sustainability Customer experience Open banking Digital currencies Open Banking…

FIs must move beyond conservative IT spending and shift investments toward innovative tech with high ROI Open banking APIs and strategic M&A can drive growth by enhancing customer engagement and acquiring new capabilities Adopting advanced technologies like AI, digital twins, and data analytics can optimize operations, improve security, and provide personalized services A new article…

Checks have become a punch line on late night TV In spite of their “antiquity,” checks remain popular Are “experts” and media the root of inherent issues with check payments? Evan Sparks, editor-in-chief of the ABA Banking Journal and senior vice president for member communications at the American Bankers Association, poses the question: Is it…

A recent CrowdStrike outage impacted an array of businesses and individuals Airline travelers found themselves significantly inconvenienced Financial institutions were not immune from impact A few weeks ago, the world was disrupted by the CrowdStrike outage — with air travel, healthcare, and even the financial industry feeling the impact. Almost everyone knows someone who was…

The world is becoming “more and more plastic” In the current market, small credit card issuers face an uphill battle Partnerships and collaborations are effective strategies PaymentsJournal addresses the challenges smaller banks face in a financial environment that has become more and more “plastic” — that is, reliant upon credit and debit cards. Credit cards…

Is cash “on its way out”? COVID-19 caused a steep decline in cash usage Predictions of a “cash crash” appear to have been premature ATM Marketplace — an organization with particular interest in paper currency — asks the question: Will Cash Ever Go Away? They note that cash usage in the U.S. declined from 26%…