OrboNation Blog

The banking industry’s primary challenge is not reinventing core processing systems Effective integration with modern, customer-facing technologies is the key Not all banks are ready to undertake the expense and upheaval of a core conversion According to a recent opinion piece on the BAI website by Mike Nicastro, CEO and principal of Coppermine Advisors, LLC., the…

Some banks are struggling to modernize outdated systems. Customer expectations demand that banks keep up. Many financial institutions are able to modernize through various partnerships According to a recent Samsung Business Insights article, banks are struggling to modernize their outdated legacy technology systems, which are holding them back from delivering the seamless, personalized customer experiences…

Singapore has set a goal for eliminating use of paper checks EDP and EDP+ have recently been launched Will other nations follow suit? Back on July 28, 2023, the Monetary Authority of Singapore (MAS) made an announcement to eliminate corporate cheques (checks) by the end of 2025. This announcement came with an aggressive timeline, which…

Magnetic Ink Character Recognition traditionally required scanners to read MICR code Today many checks are not printed with the magnetic ink needed for MICR What are the implications of phasing out MICR? The Troy Group is a technology and security solutions company specializing in secure check and document printing. In a recent post entitled The…

Check usage has actually increased in recent years Checks persist for many reasons, including it’s role as an “easy solution” Retailers are actually moving away from cash Recently, data from AFP on business check usage noted that use of paper checks jumped from 75% in 2023 to 91% in 2024. Take On Payments, a blog…

President Trump issued an executive order calling for a shift by federal government agencies away from paper checks The deadline for this shift is September 30 The Center for Taxpayer Rights expressed concerns on behalf of underbanked and unbanked Americans As reported in Payments Dive, the U.S. Treasury Department is facing significant pushback after revealing…

Small and “micro” businesses make up nearly 100% of all businesses These SMBs find themselves often underserved in the banking zone A Deloitte survey says SMBs want banking experiences that compare to retail Small and micro businesses (SMBs) make up over 99% of all U.S. businesses, but they are a largely underserved segment when it…