OrboNation Blog

Fintech Open Source Foundation (FINOS) has published the first draft of an AI adoption framework This is good news for an industry eager to implement LLMs but facing significant obstacles The FINOS framework outlines 16 control procedures to limit 14 specific threats We recently noted that 72% of finance leaders actively use AI in their…

Customers have lost patience with traditional banking procedures AI continues to be an important tool for creating the preferred banking experience Strategic planning and collaboration are vital Amid rising consumer frustration with traditional banking, PYMNTS asks: Can AI enhance the retail banking experience for the better? PYMNTS has released an Intelligence report, “Is AI the…

Staying abreast of the latest banking tech is crucial Checks are popular targets and require cutting-edge tech protection “Wait and see” approach can and will result in prodigious losses The banking industry can learn from recent history; it can look back at the past few decades of “the check is dead” being stated as truth.…

Core Modernization is key for regional banks to revitalize and stay competitive Four solution paths for core modernization are described OrboGraph’s solutions can help regional banks with core modernization in three ways We noted earlier this month that progressive modernization of technology is key for banking success. As stated by the post’s author, Forbes Councils…

Digital payment solutions are becoming more and more popular However, many people and businesses still rely on checks Streamlining payment processes in that environment benefit from OrboGraph tools The industry narrative that “the check is dead” has lost a lot of steam. While checks have seen slight declines year-over-year, the US has not ecperienced the…

A post at Forbes describes an environment where regional banks in the US face growing digital disruption and “macro headwinds” — and describes how embracing technological change is crucial for their revival. The author, Forbes Councils Member Rodrigo Silva, goes on to note that this transformation must prioritize fraud prevention to protect both the banks…

Some major retailers have announced they will no longer take checks “High Dollar Services” remain popular for checks Check usage remains prevalent enough to merit effective security measures PaymentsJournal reports that, in spite of news that Target stores has stopped accepting checks (joining other major merchants such as Whole Foods and Aldi) the “grand old…

We’re beginning the second half of 2024, a great time to examine the trends of the year. In a recent post, IBM examined what they consider the seven top financial services trends of 2024. They are as follows: Generative AI Hybrid cloud technology Cybersecurity risk management Sustainability Customer experience Open banking Digital currencies Open Banking…