Mobile Banking
Within the first months of 2017, there will be a number of important market studies released related to check volumes via FED research, fraud losses (ABA Deposit Account paper), and retail banking (BAI). As OrboGraph looks to the future in check payment innovation, we believe the following trends will feed market innovations. Check volume declines…
Read MoreAndrew Davies, Vice President of Global Market Strategy, Financial Crime Risk Management at Fiserv, makes several great points about how quicker transactions – and the customer expectations attached to that speed – can be dangerous in terms of exposing fraud and theft opportunities. (Read it HERE.) Mr. Davies describes a “perfect storm of factors,” broadly consisting of: Greater demands…
Read MoreBAI.org offers valuable insight into consumers’ adoption of digital interaction with their financial institutions via a document entitled “Digital Banking and Analytics: Enhancing Customer Experience and Efficiency.” The downloadable PDF provides great information about current and future use of digital interactive technology among bank customers, as well as a cogent overview of future expectations that the industry…
Read MoreNew technologies by the FINTECH community continue to grab the spotlight in the market. FINTECH is pushing hard on digital payment varieties and all kinds of scenarios to make P2P, B2B, and P2B via mobile devices and new card/chips options, taking volume from the branches. Banks are looking for ways to better serve millennials, too.…
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Recipients of the 2016 FinTech Forward awards discuss how evolving technology will reshape banking in the next five years. Some of the key takeaways: Data, data, data. Huge value in data analytics for those who efficiently gather it. It will be crucial to respond to the shift occurring in the next five years toward “banking where and…
Read MoreWe’re excited to see that, of the Top 5 Tech Innovations Your Bank Can’t Ignored, we can actually contribute significantly to three of them! Let’s call them the “Key 3”: Continue to embrace Check 21 Leverage electronic workflows Automated tellers Part of the shared theme of the Key 3 is that the branch bank is far from obsolete. Online…
Read MoreThe same report that finds 57% of organizations intend to use same-day ACH for last-minute payments also finds that business-to-business payments by paper check actually increased slightly from 2013, breaking the previous downward trend in check use. In fact, 86 percent have finally integrated their check payments systems with their accounting systems. There are still major…
Read MoreSet aside 13 minutes for the newest installment of the Countdown to Same Day ACH podcast series. In this episode, Jan Estep, president and CEO of NACHA, talks to Karen Webster about the overlaps, complements, and implications of all the capabilities under the faster payments umbrella. Ms. Estep says the best way to think about “faster payments” is as an umbrella…
Read MoreRecently, Visa and PayPal – – the largest payments network in the world and the largest digital payments network in the world – – announced a strategic partnership “that will result in an improved and more seamless payment experience for Visa cardholders and will offer greater choice in how consumers pay with the PayPal and Venmo…
Read MoreBank of America has 23% fewer branches and 37% fewer workers than in 2009, the bank said in a recent presentation. Further, CNNMoney reports that they plan to cut another 8,000 jobs from their consumer business over time. Digital transactions are way less expensive and keep customers happy. In fact, BofA said it costs less than a tenth…
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