Omnichannel
The ability of fraudsters to create an image of a check is not necessarily a new technique. What is newsworthy is accessibility.
Read More
When Facebook announced its Libra payment system, reactions were varied, to say the least. Can a gigantic company that cannot be trusted to safeguard our heretofore private information be ready to handle cryptocurrency? PYMNTS.com wonders if another giant company, Walmart, might have a better chance to succeed in the payments field, particularly in light of…
Read More
It seems like not so long ago cloud computing was a nifty pie-in-the-sky idea (see what we did there?) that we’d eventually embrace along with personal jet packs and resorts on the moon. While the jet packs and moon lodgings are still off in the future, let’s make one thing clear: cloud computing is not…
Read More
As reported at McKinsey.com, an analysis by the McKinsey Global Institute (covering more than 800 jobs and over 2,000 work activities) showed that: Globally, almost half the activities employees perform—which account for nearly USD 16 trillion in wages—could potentially be automated using existing proven technologies. Automation will transform far more jobs than it will eliminate.…
Read More
The Federal Reserve announced last week that it is working on a real-time payments system, the biggest infrastructure upgrade embraced by the government body since the ACH system went online in 1972. At a speech in Kansas City, Mo., Fed Governor Lael Brainard confirmed what the payments industry has long awaited, and she said the…
Read More
Microsoft Corp. will stop supporting its Windows 7 operating system next January, which is a bellwether to both independent operators of ATM machines and large financial institutions — time to update! Digital Transactions reports that independent ATM operators seem to have the upper hand in the conversion race: Independent ATM owners’ decision to eschew Windows…
Read More
In the banking industry, AML/KYC (Anti Money Laundering and Know Your Customer) was previously a very slow, methodic process — the government would put out their lists of sanctioned bad guys (hostile governments, drug kingpins, organized crime organizations and affiliates, etc.) and compliance teams would then carefully (and manually) check onboarding customers to make sure…
Read More
In the third annual edition of its “The Best Bank for You” report, Kiplinger identifies top picks among national, regional, and internet banks, as well as credit unions, that offer the best combination of high rates, low fees, and a customer-friendly focus. Many of these institutions are customers of OrboGraph, so it’s is great to…
Read More
An article from Digital Transactions finally quantifies the relationship between payments fraud and terrorism! Startling facts in this report show that, outside of pure fraud losses, there is a crucial national security component to fraud prevention. Information-security firm Terbium Labs, in its “The Next Generation of Criminal Financing: How Payment Fraud Funds Transnational Crime” report,…
Read More
For all the upbeat and optimistic talk about Artificial Intelligence and its emerging role in the banking industry (not to mention healthcare), it’s certainly well worth taking the time to examine the issues of ethics and privacy as they relate to deployment of these new tools. David Lott, a payments risk expert in the Retail…
Read More