Data Verification
A few weeks back we noted that a study had found that B2B payments by check actually increased by 1 percentage point from 2013 to 2016 (according to the 2016 AFP Electronic Payments Survey). Magnus Carlsson, manager of treasury and payments for the Association for Financial Professionals, took a deeper look at the significance of that one…
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A comprehensive article at RevCycleIntelligence entitled “How Providers Can Detect, Prevent Healthcare Fraud and Abuse” offers insight into ways to “tighten the ship” regarding practices that cost the industry billions of dollars a year. Complying with the myriad of regulations can be difficult for providers who already focus on a range of priorities, including care delivery,…
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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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We’ve heard stories of card skimmers at outdoor ATM machines and even gas pumps ripping off consumers’ card information, but, admit it – – you always trusted card machines that are inside of retail establishments just a bit more, right? Watch this clip and marvel at the fact that this caper is pulled off in…
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Artificial Intelligence, chatbots and robo-advisors are coming. Here’s an interesting example of how perceptions can yield crazy statistical results. A “Trust in Technology” report published by HSBC found that consumers are leery of allowing chatbots and robo-advisors to help them open a savings account or provide mortgage advice – – but they would trust them more for heart surgery! In an article…
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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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