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Financial Industry

FDIC Survey Shows 20+% Bank Deposit Growth

September 30, 2020

Predicting an economic recovery in today’s COVID-19 environment is far more complex than reading traditional individual economic indicators. As seen by the recent run in the stock market, there are certain market components somewhat disassociated from traditional indicators, i.e. unemployment rate, GDP growth, etc.

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Get Ready for ORBOIMPACT: AI Innovation for the Future of Check Processing

September 28, 2020

In a little over a month, OrboGraph will be hosting it’s first virtual conference since 2014: ORBOIMPACT Virtual Conference: AI Innovation for Check Payments, Check Fraud, and Healthcare Remittance Automation.

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Regulators’ “Fast and Furious” AML Fines – Not the Whole Compliance Story

September 17, 2020

Rachel Woolley, global director of Financial Crime at Fenergo, tells FinTech Futures that penalties against financial institutions have come “fast and furious” over the past few years.

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COVID Has Expanded Small Businesses’ Use of Banking Services

September 2, 2020

In a summary of Mercator Advisory Group’s new Insight Summary Report, 2020 Small Business PaymentsInsights, COVID-19 and B2B Payments & Cards – The Result of the Pandemic, PaymentsJournal.com summarizes their findings.

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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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