Medical Lockbox
Other developed countries have had it for years, but the United States is a Johnny-Come-Lately to RTP, or Real Time Payments. The Federal Reserve recently confirmed that FedNow, the government’s version of real-time payments (RTP), will launch this summer. In a piece for Forbes Magazine, Ron Shevlin, Chief Research Officer at Cornerstone Advisors, points out…
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McKinsey Digital weighs in with suggestions for how banks can modernize legacy systems to help them reduce IT costs and complexity while improving productivity in a competitive environment. Even before the onset of the COVID-19 pandemic, persistently low interest rates had increased pressure on banks to reduce their IT costs. The pandemic exacerbated this issue,…
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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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As reported at Mobil App Daily, competition in the banking industry is fierce and at a consistently high level — a good situation for consumers, and an ongoing challenge for the banks themselves. They want to dramatically improve the experience their consumers receive from their optimized digital banking services by utilizing the next-generation banking platform.…
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PYMNTS talked to Manish Jaiswal, chief product and technology officer at Corcentric, about the ways AI technology can and will improve business payments by making them faster and — most importantly — safer. Source: PYMNTS.com “Real-time payments processing is becoming a reality in B2B,” Mr. Jaiswal noted. Still, there are challenges to address. Most companies, no matter the…
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ChatGPT, the artificial-intelligence chatbot, has been making news on a regular basis for its growing list of applications in business and entertainment. We recently highlighted the possible impact ChatGPT may have on the banking industry. So, it was only a matter of time before it emerged in the payments field. Via Digital Transactions, we learn…
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If you haven’t heard of it already, OpenAI’s ChatGPT is an artificial intelligence-powered text tool capable of providing cogent answers in seconds to just about any question you throw its way. It is viewed with a mixture of awe and apprehension. Despite the unease, ChatGPT is acquiring new users faster than any of the most popular consumer…
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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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In the digital era, we tend to think payments are all traveling via this or that payments app. However, the latest PYMNTS/Ingo Money collaboration, “Insurance Disbursements Brief 2022,” noted the surprising prevalence of paper checks used for healthcare claim payments or disbursements. As reported at PYMNTS.com: This is particularly key because healthcare disbursements represent the…
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Banks and credit unions recognize that they need to modernize Key to modernization is collaboration Product and data silos, outdated infrastructure, and a risk-averse culture are obstacles The Financial Brand cites a recent report from the Federal Reserve that delineates three types of digital banking experience partnerships being sought by banks and credit unions seeking to…
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