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RDC & Mobile

Rise of the Machines — Interactive Teller Machines (ITMs), That Is…

July 21, 2021

No, this is not a scene from a sci-fi action movie starring the immortal Arnold Schwarzenegger. As far as we know, there is no “Skynet” that has developed an artificial intelligence with the motive of eradicating all human life.

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Building a Platform Requires AI Diversity & Partnership

July 8, 2021

Artificial Intelligence can be a dizzying technology to understand. While the term gets tossed around everywhere you turn, it’s important for financial institutions to have a strong baseline of knowledge on the different types of AI, in order to better leverage the technology.

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A Real Life Innovation Lab Story at Royal Bank of Canada

July 1, 2021

Recently, Royal Bank of Canada (RBC) has taken an approach similar to that of OrboGraph’s OrbNet AI Innovation Lab to bring AI technology to the financial industry; partnering with NVIDIA and Red Hat to create Borealis AI. But what is Borealis AI? And what do they do? Well, Borealis AI describes themselves as: A world-class AI research…

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OrboNation Newsletter: Check Processing Edition – June 2021

June 29, 2021

In case you missed it, over the past month, we have published incredible content on our OrboNation Blog and Modernizing Omnichannel Check Fraud Detection. Review the latest OrboNation Newsletter online or via PDF download.

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The New Standard: AI and GPU White Paper

June 24, 2021

As a subscriber to the OrboNation Blog, you have undoubtedly seen articles involving Artificial Intelligence (AI) and GPUs and how this combination of breakthrough technologies are part of the future for banking. The adoption of GPU hardware is enabling the combination of a “New Standard” for solving the difficult problems of the industry in many…

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News Release: OrboGraph Completes Market Launch of OrbNet Forensic AI

June 7, 2021

Billerica, MA, June 7, 2021 – OrboGraph, a premier developer and supplier of intelligent electronic and paper automation for check fraud detection, recognition solutions as well as healthcare payment electronification, announced the market launch of OrbNet Forensic AI as the core image analysis technology to the Anywhere Fraud software application version 4.1. Details are now available on recently modernized company’s website, www.orbograph.com.

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Credit Unions Bring Digital Technology To Customer-Centric Strategy

June 3, 2021

Credit Unions and their members tend to pride themselves — rightfully so — on being much more “customer-centric” than the average financial institution. They are, after all, serving “members,” and that spirit permeates their approach in all aspects of their business. The relationship has become, in fact, a differentiator that draws (and keeps) loyal members on a long-term basis.

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Modernization Pains Eased for Community Banks by Jack Henry & Associates

May 27, 2021

The Federal Reserve is actively exploring ways to streamline FinTechs’ access to the payment system, and pymnts.com reports that financial institutions will need sharpen their systems to retain a competitive edge.

The Federal Reserve could be taking steps toward a much more open and competitive financial services landscape as it considers allowing FinTechs to gain access to the payment system directly. The Fed announced last week that it is inviting comment on the proposal to develop guidelines for allowing non-banks to access accounts and payment services, rather than relying on bank partnerships to facilitate that connectivity.

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Trade Finance Modernization Remains a Work In Progress, But PNC Jumps Aboard

May 12, 2021

Trade Finance is recognized as a vital tool to fuel global growth and support the world economy, but, as pymnts.com notes, it is far from a perfect instrument. For decades, trade finance has been caught in a web of paper-based documents, creating bottlenecks and friction at nearly every point of the process, from onboarding to financing payouts. As the industry pushes to modernize, it’s also facing scrutiny over its relationship with credit risk. Critics argue that some trade financing products have actually encouraged large corporates to pay their vendors late or force those suppliers into expensive financing arrangements. At the same time, as witnessed in the ongoing Greensill Capital saga, the success of trade finance largely relies upon insurers’ ability to cover for losses in the case of non-payment.

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71% Call Check Deposit Critical or Important for Mobile Banking Capabilities

May 6, 2021

Forbes took a look at new research from Cornerstone Advisors and found that that more than three-quarters of Americans who have a smartphone are now mobile banking users. Mobile banking adoption is approaching ubiquity among Gen Zers and Millennials (ages 21 to 40) with 88% of each of the two generations accessing their bank accounts using a mobile device. The adoption rate dips just a bit to 78% among Gen Xers (41 to 55 years old), and then drops to 57% of Baby Boomers and 41% of smartphone-owning Seniors.

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