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Check writers and depositors have become accustomed to a next day or two day check clearing process for the majority of items. But when an extended clearing process does happen, i.e. 2-3 days, it becomes a real inconvenience, especially for millennials accustomed to instant digital payments, or for those folks who still get payroll checks. There are many other examples.
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Motley Fool’s The Ascent recently took look at FTC statistics in order to get a handle on mounting COVID-19 fraud losses losses to persons and businesses. COVID-19 fraud is defined in this case as any type of scam, fraud, or identity theft related to the novel coronavirus. Key findings from the report include: As of August 10, 2020, Americans have reported over 160,000 cases of fraud and losses of over $106 million.
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Healthcare professionals across the globe are taking to the social media platform TikTok to spread a bit of joy with others by performing everything from a short dance clip! And, in a time where many people are choosing at home as much as possible, who couldn’t use a smile and bit of entertainment? Healthcare workers…
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The New Yorker Magazine takes a close look (via Clifford Marks, an emergency-medicine resident at the Icahn School of Medicine at Mount Sinai) at how primary care practices and physicians are taking it on the chin due to the effects of the Coronavirus pandemic.
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Pymnts.com explores the various hurdles banks face when taking that big — and increasingly necessary — step. They note that migrating to the cloud is a vital tool traditional financial institutions (FIs’) will need in order to compete with digital-native FinTechs.
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A story from the New York Post features Case William Kelley, 42, who utilized a home printer to create a fraudulent check to successfully purchase a Porsche from an Oklahoma Dealer. This may sound like fake news…
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To the layman, much of the language in the AI space can be mystifying, particularly in deep learning. Take for example one of the core elements; the node. A deep learning node is “a computational unit that has one or more weighted input connections, a transfer function that combines the inputs in some way, and an output connection. Nodes are then organized into layers to comprise a network.”
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Nigerian “419 scammer” goes big time “Hushpuppi” portrayed himself as successful and wealthy to recruit and fool victims It was a small error that eventually snared him By now, the phrase “Nigerian email scammer” has become a cliche to the extent that one wonders if they actually exist in the literal sense — a person…
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A new podcast at PYMNTS.com features a conversation with Jennifer Barker, Managing Director and Head of Wholesale Payments Product Delivery at JPMorgan Chase & Co., on the topic of business resiliency in this unprecedented pandemic environment.
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Ensenta/EPS has put together an excellent report exploring NINE DRIVERS OF MOBILE DEPOSIT GROWTH (You can download a copy HERE). They come out of the gate by noting that large financial institutions continue to invest in increasingly better mobile deposit user experiences for two reasons: Improving return on investment (ROI) Growing their deposit base Given…
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