Check Processing
The story of Eastman Kodak’s fate is often used to illustrate the danger of late adoption of new technology. Even venerable and ostensibly rock-solid entities can find themselves marginalized and, ultimately, pushed out the picture (so to speak) if they don’t keep up with emerging tech. An article in the Harvard Business Review uses the…
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The Association for Finance Professionals (AFP) has made available a white paper entitled “Not Going Anywhere: Why Checks Still Matter” (log-in required) that offers valuable insights in an easily digestible package. As pointed out in the report, check use in the United States for business-to-business (B2B) transactions remains at roughly 50% in spite of a multitude…
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With all of the tech we count on that uses actual experiential learning to better read handwriting on a variety of payment types — including checks, for instance — we probably should have seen this coming. Last September the white coats at Google added something called the Google Neural Machine Translation system (GNMT) to their translation tool.…
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Here’s a terrific podcast interview via BAI Banking Strategies that you should listen to during your commute. In it, Andres Wolberg-Stok, Citi FinTech’s global head of policy, talks about best practices and approaches to incorporating financial tech – FinTech – in financial organizations. An important point Wolberg-Stok makes early in the conversation is the fact that,…
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Pymnts.com reports that electronic payments are rising, according to a Viewpost study. Small and large businesses are recognizing the advantages of electronic payments. But, for all the rah-rah about electronic payments seeping into the consciousness of American businesses, there are no victory dances quite yet: Every single one of the business owners surveyed by Viewpost…
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AJC.com recently reported the story of a group of fraudsters who used Instagram ads to solicit bank information for unsuspecting victims, who were robbed of substantial funds before the crime was discovered. During a scheme lasting at least 17 months, the FBI said, the trio posted advertisements on Instagram and other social media sites offering “fast…
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Billerica, MA, June 7, 2017 – OrboGraph, a premier developer and supplier of intelligent electronic/paper automation solutions in healthcare revenue cycle management (RCM), as well as recognition solutions, image validation and check fraud detection for the U.S. check processing market, recently presented its OrbyAwards for excellence and inducted eight recipients to the OrboGraph Hall of Fame…
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The American Banker podcast is a pleasant way to spend your commute. Their latest segment features a conversation from our business partners FIS, Doug Brown, senior vice president. He examines a recent survey that shows 14% of small and medium-size businesses switched banks last year and 18% are considering switching this year. “Business owners gravitate toward things that make…
Read MoreDespite the aggressive marketing attacks by many electronic payment platforms, even Bankrate advises readers to think twice before consigning their checkbooks to the nostalgia pile. Go to the link for details, but the five fundamental reasons paper checks are still important payment tools, according to Bankrate, are as follows: Many businesses shun plastic Ease of person-to-person…
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Mobile check deposit rolled out almost five years ago, and at that time it was used mainly by tech-savvy leading-edge early adopters. The “mainstream” bank customer, however, felt intimidated by the tech, or was discouraged by the limits set on deposits. Undaunted, BBVA Compass aggressively addressed theses concerns over the past year. The bank increased its check amount limits,…
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