Financial Industry

ECCHO Continues Strong Leadership, Reaches 25th Anniversary Milestone

By jgregory / March 26, 2015 / 0 Comments

In an era where “checks were away”, who would believe there are still 18B per year remaining. Luckily for financial institutions and the payments industry, we have an organization who providers leadership around checks; instituting rules which facilitate better, faster and more fair payments!  Thank you ECCHO. The list of accomplishments is impressive.  Check out…

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ABA Tool Looks Useful for Finding Routing Numbers for Consumers, but Will It be Helpful for Bankers?

By jgregory / March 24, 2015 / 0 Comments

The new American Bankers Association tool for finding routing numbers could be very helpful for consumers looking for routing numbers (also referred to as routing and transit/R&T). “Routing numbers are only issued to federal and state chartered financial institutions that are eligible to maintain an account at a Federal Reserve Bank. Accuity is responsible for the assignment…

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Congratulations to Orbograph Business Partners and Clients in the FinTech 100

By jgregory / December 5, 2014 / 0 Comments

Orbograph business partners did well in the annual FinTech Rankings of technology vendors (FinTech Forward) to the financial services industry conducted by BAI and American Banker. The study identifies the forces and trends that are motivating banks’ technology investment and ranks the top 100 companies along with their revenue generated from financial services.

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FDIC Quarterly Banking Profile (BQP) Shows Banking Industry Forging Forward

By jgregory / December 3, 2014 / 0 Comments

Does a 7.3% boost in earnings give you any indication of how the banking industry is doing holistically? The increase in earnings was mainly due to a $7.8 billion (4.8%) increase in net operating revenue (the sum of net interest income and total non-interest income), the biggest since the fourth quarter of 2009. The good news is that almost two-thirds of the 6,589 insured institutions reporting (62.9%) had year-over-year growth in quarterly earnings.

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The Fundamentals Behind Managed Check Recognition Services

By jgregory / August 27, 2014 / 0 Comments

There was a great article written on the Institute of Financial Operations site called “5 reasons you should not manage OCR software internally”. The concepts and challenges for end-users to fully manage their recognition environment applies to all industries. We’ve seen how even in check processing, banks are underachieving in their check processing environments by 10%, 20% and even 30%, leaving large chunks of automation “on the table” for their employees to manage. The end result is higher labor costs, additional overhead to run the systems and negative client experience due to additional errors.

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Mobile RDC and Check Fraud: What to Think?

By jgregory / July 23, 2014 / 0 Comments

We have to remember that Mobile RDC is still a relatively new type of technology. The technology has made waves in supporting financial institution’s customer acquisition strategies. As new services like mobile RDC are implemented, financial institutions run risk models trying to anticipate product profitability, security risk and fraud losses. RemoteDepositeCapture.com recently reported that the vast majority of financial institutions that have adopted mobile RDC technology in the last few years report few, if any, losses from the use of the technology.

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ECCHO Doing “God’s Work” for Check Payments

By jgregory / July 22, 2014 / 0 Comments

As “the check” gets less and less attention due to the myriad of new payment innovations, rules for check processing continues to improve. Our good friends at ECCHO continue efforts on making the check payment better and better by gathering critical, industry-wide feedback on Reg CC improvements.

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Alternate Branching Strategies to Enhance your Geographic Footprint

By jgregory / July 21, 2014 / 0 Comments

The summer 2014 newsletter from industry consultant, Trent Fleming, identifies important considerations for community and large banks on how to leverage technology to complement branch “brick and mortar”.

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5 Ways Banks Can Take a Leadership Role & Help Healthcare Providers

By jgregory / June 6, 2014 / 0 Comments

Banks have a number of ways they can grow by offering new services in the healthcare payments space. This healthcare payments video series features interviews with Mark Brousseau, President of Brousseau & Associates. In these forward thinking interviews, Mr. Brousseau provides insight to the marketplace of healthcare payments by helping to identify the challenges in today’s market, identify a path toward streamlining revenue cycle management and offers a roadmap for banks to better support the needs of healthcare providers.

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IOFM Payments Summit Delivers Futuristic Agenda

By jgregory / June 5, 2014 / 0 Comments

The IOFM Payments Summit (www.iofm.com) examined the opportunities, challenges and business drivers for emerging payments automation technologies and processes. Billers and banks need strategies for managing multiple payment channels and transitioning remittance and lockbox operations from paper checks to multi-channel electronic payments inputs. The beauty of this show was in its diversity of thought leadership and vision for the future.

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