Financial Industry
78% of renters still pay by check Other industries dominated by checks Investments in tech to automate check processing As we noted in a previous blog, checks are NOT going away. In fact, our friends at Alogent reported that of non-cash payment methods, checks accounted for nearly 23% of the total value of payments in…
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Want to keep up in the banking industry? Follow the example of executives at eight in ten banks, who noted that their 2022 technology budget was up from the previous year, with an average increase of 11% over 2021. In fact, Gartner Inc. predicts that in 2022, banks and financial firms will invest an estimated…
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In 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.
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Recently, the Association of Financial Professionals — in conjunction with JP Morgan — released its 2022 AFP Digital Payments Survey. The survey was conducted to measure the adoption of digital payments in the US and Canada in light of recent global challenges. In particular, the survey focuses on the shift from checks to digital alternatives.…
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As we noted in a previous blog, business remote deposits continue to be a leading service — particular for checks, with tremendous growth of +25%. And, according to Fiserv’s Mobile Deposits Adoption Program Director, Ryan Williams, 85% of consumers currently using mobile deposit plan to continue doing so. With all that being said, Williams recently shared…
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A post at The Financial Brand by Jim Marous, Co-Publisher of The Financial Brand, CEO of the Digital Banking Report, and host of the Banking Transformed podcast, paints a grim picture of AI development and adoption progress in the banking industry. Despite the importance of leveraging data and artificial intelligence for risk management, enhanced operations,…
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The newest episode of This Week on PYMNTS.COM covered, among other topics, the impending entry of Walmart into the banking space. PYMNTS’ Karen Webster spoke to Ingo Money CEO Drew Edwards, who is sometimes referred to as “the OG [Original Gangster] in FinTech.” Source: PYMNTS.com (jump to 12:55 for Walmart segment) Walmart is beginning neobank services for its…
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In 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 More
The San Diego Business Journal asked a group of banking leaders for their impressions of the digital revolution in banking, and received valuable insights regarding human interactions, response to pandemic-era restrictions, and fraud prevention. Even before the COVID-19 pandemic impacted the world economy in early 2020, the financial sector was developing and deploying digital tools…
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While many industry experts have predicted the demise of checks and subsequent move towards fully digital payments, the reality is that checks are NOT going away anytime soon. In fact, a new PYMNTS report, THE TREASURER’S GUIDE TO AR PAYMENT OPTIMIZATION, reveals that 81% of businesses still pay other firms via paper checks, making it…
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