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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…
Digital Banking provides many benefits Unfortunately, Digital Banking also introduces challenges There are three key areas to address when addressing this potential fraud avenue Jack Henry FinTalk features a post emphasizing that, while the shift towards digital banking has brought significant benefits, there have also been new challenges introduced when it comes to fraud prevention.…
Should the financial industry continue requiring fingerprints for check deposits? While effective, there are pros and cons attached to the practice Fingerprint technology introduces numerous hurdles Last week, OrboGraph’s own James Bi was guest speaker at Finovifi’s “Beyond the Vault” Webinar series, covering the check market, check fraud data and trends, and how FIs can…
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…
Top financial crimes in America are ranked “Fraud geography” is also noted The most common variety: check fraud In a recent article from Visual Capitalist, author Julia Wendling takes on the task of ranking the top financial crimes in America. And, as you may have guessed, check fraud is ranked number 1 of most common…
The NICE Actimize annual report on fraud is available Check fraud attempts are for larger dollar amounts than any other fraud attempt NICE Actimize recommends key areas of improvement for financial institutions to consider In a recent press release, NICE Actimize published its annual report on fraud, based on 2024 data. The report, entitled “2025…
Check fraud is a major issue for financial institutions and their customers It is also the most common type of fraud experienced by financial institutions 94% of financial institutions & their customers experienced check fraud according to a Bank Director survey You read the headline right. According to a recent survey entitled Bank Director’s 2025…
Financial institutions face major hurdles in combating growing payments fraud A “perceived legal barrier” makes it difficult for banks to share information We are seeing some steps for collaboration Payments Dive reports that financial institutions are facing a major challenge in combating the growing threat of payments fraud, particularly push-payment scams, business email compromises, and…
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.
Payment modernizations are becoming common Some businesses, however, have not taken advantage of new technologies Collaboration between financial institutions and businesses is important Over the past few years, financial institutions, along with fintech vendors, have taken the initiative in pushing innovation and new technologies to modernize payments. While new payment rails get a majority of…