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BAI Banking Strategies looks forward to the new year with a podcast which includes a list of recommended strategies for bank branches. Their recommendations include: Fix your distribution strategy Become a data nerd Learn to use robotics and AI Partner with fintechs Invest in front-line tools Meanwhile, Bank News has advice for community bank branches…
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Our own Vice President of Marketing, Joe Gregory, is featured in an article in Banking CIO Outlook magazine (you can read the story here). OrboGraph is proud to be featured as one of Banking CIO Outlook’s Top 10 KYC Solution Providers for 2018. Gregory notes that OrboGraph’s embrace of AI and Deep Learning technologies provides…
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The Wall Street Journal recently reported that Venmo sustained a transaction loss rate of 0.40% in March, up from 0.25% in January, according to internal PayPal documents they reviewed. As reported in Digital Transactions: The losses sent Venmo’s first-quarter operating loss to approximately $40 million, a 40% increase over what PayPal had expected, the documents revealed.…
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Bob Legters of American Banker goes out on a limb and makes the following predictions for the new year. Visit the link for his expansion of each prediction. Legters begins with specifying things he thinks we won’t see in 2019, followed by developments he believes will come to fruition before year’s end. How many do…
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Via Becker’s Hospital Review: OptumIQ Annual Survey on AI in Health Care reveals that, over the next five years, a healthcare organization will invest an average of $32.4 million on artificial intelligence. According to Optum: The inaugural OptumIQ Annual Survey on AI in Health Care indicates a tipping point in the adoption of AI in the industry,…
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This time of year we hear, more than ever, about how e-commerce has pushed retailers to the brink. Smart companies, however, survived and thrived, as Dawn Wotapk reports in Banking Strategies explains, by offering consumers as many consistent and seamless options as possible—letting them quickly jump between the offline and online worlds and learning about those consumers…
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The Federal Reserve, following through on plans disclosed earlier this year, formally unveiled the U.S. Faster Payments Council, an industry group charged with collaborating to spur the adoption of faster payments and identify market opportunities. According to DigitalTransactions.net: The 22 inaugural members range from retailing giant Walmart Inc. to Visa Inc. and Mastercard Inc. to…
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BankNews.com reports on a study that lends considerable weight to the concept of upgrading technology in the retail bank space: According to the 2018 Payments Industry Report from Sydney, Australia-based Accuity, the majority of financial institutions and payments providers provide customers with the validation of key payments data elements prior to remittance, and many have…
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PYMNTS.com reports on the Federal Reserve’s efforts to gather input on making payments faster across all channels. Federal Reserve Governor Lael Brainard said, in remarks made on Oct. 3rd., that the Federal Reserve’s infrastructure underpinning payments could use a bit of modernization in a bid to support fast payments “for all.” Brainard, speaking in Chicago at the Fed…
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While the consumer “civilian” world has pretty much learned and accepted the “don’t take checks from strangers” rule, the corporate world is both slow to adopt that guideline — and often unable to. This is due to the fact that suppliers like the “float” advantage they enjoy with check payments. (“We paid you on Tuesday…
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