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AI integration has become vital to financial institutions Fraud detection is strengthened greatly by AI tech AI advantages are not limited to large banks A blog post by Saurabh Singh at AppInventiv.com explores the growing integration of Artificial Intelligence into more and more banking systems. AI-based systems can help banks reduce costs by increasing productivity…
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Time for another look at what this year might bring in terms of revenue cycle challenges. Matt Seefeld, Executive Vice President at MedEvolve, created a list of reasons he is optimistic about the coming year — with the caveat that health organizations stay current in terms of evolving tech. As we enter 2022, providers with…
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In a digital society where the younger generation has created new nomenclature such as “I’ll Venmo you” to send person-to-person payments or asking if a vendor accepts PayPal (and perhaps soon, “Do you accept Bitcoin?”) The Financial Brand took a look at the future of checking accounts. The article provides an interesting perspective, starting off with…
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New LexisNexis study identifies the true cost of fraud Fraud spans across the spectrum of both payment channels and customer journey Multi-layered technology approach is needed to lower fraud costs ABA Banking Journal reports on a new study called “The True Cost of Fraud™” from LexisNexis Risk Solutions that reveals rising monthly fraud attacks in 2021 compared…
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Even though we’ve just met, no one is standing on ceremony with “Charles,” or even “Charlie.” Nope – it’s CHUCK™ right out of the gate. CHUCK is an open network for instant payments, created by a consortium of community banks. American Banker reports that “more banks will roll out their version of CHUCK in the…
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Fraud increased tremendously as the pandemic entered its second year New fraudsters are entering the arena due to the ease of committing fraud 10 predictions for fraud in 2022 As the industry saying goes: “New Year, New Fraud.” It couldn’t be more accurate, as Frank McKenna’s Frank on Fraud blog opened the new year with…
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Healthcare Economics doesn’t beat around the bush: the first line of their Revenue Cycle Management 2.0 story states clearly: It has never been more important for those in healthcare to manage their revenues effectively. This has, in turn, put greater emphasis on the need for Revenue Cycle Management (RCM) systems to enable a healthcare provider…
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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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In what might very well become an industry standard practice, Bank of America (BAC) is the latest major financial institution to announce that it is ending fees for insufficient funds. They also plan to cut overdraft fees from $35 to $10. These new policies go into effect in February. CNN Business Reports “Bank of America said that once all…
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The pandemic has created a definite uptick in fraud Rather than reactive, FIs should be PROACTIVE in their approach to combatting fraud It’s time to “think like a fraudster” James Ruotolo, a senior manager in the fraud and financial crimes practice at Grant Thornton, contributed a valuable article to ABA Bank Compliance magazine which discusses…
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