Check Processing
BAI.org offers valuable insight into consumers’ adoption of digital interaction with their financial institutions via a document entitled “Digital Banking and Analytics: Enhancing Customer Experience and Efficiency.” The downloadable PDF provides great information about current and future use of digital interactive technology among bank customers, as well as a cogent overview of future expectations that the industry…
Read MoreAs Steve McNair reports, the daily New York Times now contains more information than the 17th-century man or woman would have encountered in a lifetime. And, on top of that, we are regularly subjected to the DRIP (data rich information free) phenomena. Excel, PowerPoint, and other programs have easily created a flood of data and often…
Read MoreThe folks at Crosscheck have put together a great overview of the life of a check – – starting at the tree (now that’s comprehensive) and advancing through the various legislative and technological steps that have kept checks speedy and relevant in the digital age. They also get into the nitty-gritty of check “construction” with…
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Recipients of the 2016 FinTech Forward awards discuss how evolving technology will reshape banking in the next five years. Some of the key takeaways: Data, data, data. Huge value in data analytics for those who efficiently gather it. It will be crucial to respond to the shift occurring in the next five years toward “banking where and…
Read MoreSteve McNair of FTP Consulting tells a great story about how a credit card processing company made a significant $$$ investment in system upgrades, which delivered “lower performance”. The customer blamed the solution provider — however, the system was running fine. Sound familiar? After nine months of working with the system, no one could identify the root cause of…
Read MoreIn light of last week’s crippling web outage, it’s ironic to note that the Federal Deposit Insurance Corporation has declared October Cybersecurity Awareness Month. The FFIEC hosted a webinar entitled Getting the Most Out of Your FS-ISAC Membership for financial institutions on October 31, 2016. Cybersecurity is, of course, crucial in the fraud prevention workflow, and last week’s outages…
Read MoreThere are so many cross-platform consolidations in our daily lives – without missing a beat (literally), Spotify carries my favorite songs seamlessly from iPhone to iPad to desktop computer, for instance – that it’s getting harder and harder to imagine the sorts of silos that frequently exist in financial institutions’ risk management efforts. Yet, as…
Read MoreWe’re excited to see that, of the Top 5 Tech Innovations Your Bank Can’t Ignored, we can actually contribute significantly to three of them! Let’s call them the “Key 3”: Continue to embrace Check 21 Leverage electronic workflows Automated tellers Part of the shared theme of the Key 3 is that the branch bank is far from obsolete. Online…
Read MoreRené Lacerate, chief executive and founder of Bill.com, writes in a posting at American Banker that the glory days for fintech (financial technology) may be in the past. And just when we thought it was heating up! Lacerate says new fintech investments are tapering off as the broader funding market cools; also, banks are coming around and “starting to…
Read MoreA sure method for starting a conversational brushfire at a “civilian” (i.e. non-industry) cocktail party of other gathering is to begin a discussion on the ACA, or “ObamaCare.” Recent headlines detailing large insurance companies abandoning the exchanges have added fuel to the anti-ACA rhetoric, but, as folks in the industry know, things are not so…
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