OrboNation Blog
During the Omni-Channel Capture: An Evolving Strategic Direction webinar recorded live at the RDC Summit 2015 (free for RemoteDepositCapture members here), the panelists agreed that Omni-channel delivery strategies, pioneered by hospitality and retailing companies, are becoming absolutely vital for financial services.
Read MoreBefore “Multi-channel” become Omnichannel, the goal was to provide multiple ways to interact with a bank and your accounts. For quite a while, the ability to check balances and make deposits by any means other than walking into a bank lobby – using a web site, ATM machine, smart phone, etc. – was novelty enough.…
Read MoreIn an era where “checks were away”, who would believe there are still 18B per year remaining. Luckily for financial institutions and the payments industry, we have an organization who providers leadership around checks; instituting rules which facilitate better, faster and more fair payments! Thank you ECCHO. The list of accomplishments is impressive. Check out…
Read MoreABA Tool Looks Useful for Finding Routing Numbers for Consumers, but Will It be Helpful for Bankers?
The new American Bankers Association tool for finding routing numbers could be very helpful for consumers looking for routing numbers (also referred to as routing and transit/R&T). “Routing numbers are only issued to federal and state chartered financial institutions that are eligible to maintain an account at a Federal Reserve Bank. Accuity is responsible for the assignment…
Read MoreOrbograph business partners did well in the annual FinTech Rankings of technology vendors (FinTech Forward) to the financial services industry conducted by BAI and American Banker. The study identifies the forces and trends that are motivating banks’ technology investment and ranks the top 100 companies along with their revenue generated from financial services.
Read MoreDoes a 7.3% boost in earnings give you any indication of how the banking industry is doing holistically? The increase in earnings was mainly due to a $7.8 billion (4.8%) increase in net operating revenue (the sum of net interest income and total non-interest income), the biggest since the fourth quarter of 2009. The good news is that almost two-thirds of the 6,589 insured institutions reporting (62.9%) had year-over-year growth in quarterly earnings.
Read MoreThere was a great article written on the Institute of Financial Operations site called “5 reasons you should not manage OCR software internally”. The concepts and challenges for end-users to fully manage their recognition environment applies to all industries. We’ve seen how even in check processing, banks are underachieving in their check processing environments by 10%, 20% and even 30%, leaving large chunks of automation “on the table” for their employees to manage. The end result is higher labor costs, additional overhead to run the systems and negative client experience due to additional errors.
Read MoreAs “the check” gets less and less attention due to the myriad of new payment innovations, rules for check processing continues to improve. Our good friends at ECCHO continue efforts on making the check payment better and better by gathering critical, industry-wide feedback on Reg CC improvements.
Read MoreThe summer 2014 newsletter from industry consultant, Trent Fleming, identifies important considerations for community and large banks on how to leverage technology to complement branch “brick and mortar”.
Read MoreThe IOFM Payments Summit (www.iofm.com) examined the opportunities, challenges and business drivers for emerging payments automation technologies and processes. Billers and banks need strategies for managing multiple payment channels and transitioning remittance and lockbox operations from paper checks to multi-channel electronic payments inputs. The beauty of this show was in its diversity of thought leadership and vision for the future.
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