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Financial Industry

NVIDIA Data Centers’ Importance to Real-Time Check Processing

August 26, 2020

By now, many of you have heard of the arguments between utilize GPU vs CPU. towardsdatascience.com provides a simple explanation on the reasoning behind the need for GPUs for machine learning:

GPUs are optimized for training artificial intelligence and deep learning models as they can process multiple computations simultaneously.

They have a large number of cores, which allows for better computation of multiple parallel processes. Additionally, computations in deep learning need to handle huge amounts of data — this makes a GPU’s memory bandwidth most suitable.

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Imagine The Impact of Real-Time Check Deposits!

August 20, 2020

Check writers and depositors have become accustomed to a next day or two day check clearing process for the majority of items. But when an extended clearing process does happen, i.e. 2-3 days, it becomes a real inconvenience, especially for millennials accustomed to instant digital payments, or for those folks who still get payroll checks. There are many other examples.

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Helping Big Banks Overcome Cloud Paralysis

August 12, 2020

Pymnts.com explores the various hurdles banks face when taking that big — and increasingly necessary — step. They note that migrating to the cloud is a vital tool traditional financial institutions (FIs’) will need in order to compete with digital-native FinTechs.

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Understanding AI: What is a Deep Learning Node?

August 7, 2020

To the layman, much of the language in the AI space can be mystifying, particularly in deep learning. Take for example one of the core elements; the node. A deep learning node is “a computational unit that has one or more weighted input connections, a transfer function that combines the inputs in some way, and an output connection. Nodes are then organized into layers to comprise a network.”

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Nine Drivers of Mobile Deposit Growth

July 29, 2020

Ensenta/EPS has put together an excellent report exploring NINE DRIVERS OF MOBILE DEPOSIT GROWTH (You can download a copy HERE). They come out of the gate by noting that large financial institutions continue to invest in increasingly better mobile deposit user experiences for two reasons: Improving return on investment (ROI) Growing their deposit base Given…

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Funds Availability: The Race is On

July 17, 2020

Modern bank consumers are more and more comfortable interacting with their accounts online, often from a portable device. It’s never been easier to make deposits — using an app on an always-handy phone — and see the “funds available” right in an account, reassuring the user that the money is indeed deposited and… available. MyBankTracker…

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Applying AI for “Hyperpersonalized” Banking and Fraud Detection

June 24, 2020

Forbes magazine reports on a recent AI Today podcast wherein Casey Royer of USAA, a large US bank serving the military community, shared information on how the bank is adopting AI, how they’re using AI to broaden USAA banking offerings, make their operations more effective and efficient, and offer greater value to their growing customer…

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Remote Deposit Capture Spikes During Pandemic

June 18, 2020

RemoteDepositCapture.com had a hunch that the Covid-19 pandemic would lead to an increase in RDC deposits (Mobile Deposit, Desktop, ATM, etc.). So, in late February, they started polling the industry, asking the following question: For Financial Institutions: What has been the rate of growth or decline in your mobile deposit volume over the past year?…

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Applying Defect and Root Cause Analysis to Tuning Check Recognition with AI

June 11, 2020

OrboGraph will soon be launching a website refresh with the official market announcements around OrbNet AI and OrboAnywhere 4.0. Check recognition is a process which is not perfect, but the gap of unread items is closing. As technology approaches reading all legible items, it is important to look closely at “defect” items which did not…

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A Careful Return to the Workplace Begins

June 3, 2020

As the COVID-19 pandemic hopefully continues to subside — and the general population becomes more and more used to social distancing and appropriate use of facemasks — companies that had sent their employees home to work are beginning cautious steps toward bringing a portion of them back to the office. Cerner, for example, has begun…

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