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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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Open Banking is popular worldwide United States financial institutions are “late to the party” Collaboration, innovation, and interoperability are keys to success A few weeks ago we explored Open Banking and its impact. Open Banking is a system that allows consumers to share their financial data with third-party providers and enables access to a wider…
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Check fraud is on the rise Fraudsters require depositor information to pull off scams ID theft is growing as a result Jenna Herron, a columnist at Yahoo Finance, recently found herself on the wrong side of a case of identity theft. Not long ago, someone posed as me at three bank branches and drained thousands of…
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Overall banking fraud is climbing Account takeover fraud is now surpassed by authorized payments scams While check deposits are down, check fraud is up 33% NICE Actimize has gathered and published some in-depth research that clearly shows a precipitous rise in banking fraud, which is understandably a growing concern for Financial Institutions (FIs) and consumers…
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While thought of as “old school,” there are still advantages to using checks For many, checks still offer respite from carrying physical money At the same time, growing fraud makes caution necessary Alternative Payments offers a comprehensive look at the advantages and disadvantages to paying with checks, along with a bit of history and key…
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Many parts of the U.S. have been on the blunt end of some “interesting” weather of late. Whether it’s flooding rains, high winds, or excessive heat, it’s been important to be “weather aware.” Effective weather prediction — the kind that helps you postpone that camping trip when storms are ahead, or make sure the snowblower…
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Check fraud is on the increase and touching more and more depositors Over half of financial institutions report checks as the payment method most impacted by fraud Technology currently exists to combat the threat Detecting check fraud is — to say the least — complex. There are many variables that need to be considered, along…
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AI has emerged as a powerful protective tool for banks and their depositors Consumers are becoming more aware of AI services in other areas of their lives What was once a feature will soon be an expectation BizTech Magazine examines AI and the three primary ways banks are deploying this new tool. Consumers, too, are…
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Fraudsters use fake LLCs to perpetrate schemes Even careful consumers can be fooled Consortiums are vitally important to combat this type of tactic A few weeks ago, we talked about the ease with which fraudsters open LLCs in order add an additional layer of “realism” to their schemes. While setting up a fake business is…
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ATMS are more popular than ever Their popularity makes ATMs ripe targets for thieves Legislation has been introduced in the U.S. aimed at curtailing these thefts As reported by the American Banking Institute, ATMs — deposit and withdrawal devices that are more popular than ever — are becoming goldmines for thieves. ATMs have become lucrative…
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