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An article at MarketWatch.com notes that “there are more than 30 million small businesses in the United States and the majority cite cash flow as the biggest challenge they face.” With the Coronavirus, this is probably an understatement. Market leader Jack Henry & Associates, Inc., provider of technology solutions and payment processing services primarily for…
From the Federal Reserve Bank of Atlanta comes an informative overview of check usage entitled U.S. Consumers’ Use of Personal Checks: Evidence from a Diary Survey. The authors look at 1,600 individual transactions to gain an understanding of what check payments are currently used for—by dollar value, and by payee—and who uses checks (in terms of demographics and income).
OrboGraph recently co-hosted with Nice Actimize a dynamic webinar entitled Change is Inevitable – How Will You Respond? Along with OrboGraph’s Joe Gregory, Allegra Angus and Nithin Mangalore of Nice Actimize discussed with attendees different aspects of check fraud trends, best practices for combating check fraud, including incorporating machine learning and image analysis.
Use of Personal Checks: Drilling Down to “Who and Why” A report by the Federal Bank of Atlanta reveals some useful trend information regarding check usage in the United States. The report is described as “a snapshot of U.S. consumers’ use of paper checks in 2017 and 2018, combining data from the 2017 and 2018…
Modernizing Omnichannel Check Fraud Detection An informative blog series exploring payments fraud and image technologies used to fight financial crimes. ACH Fraud Jumps – Are You Surprised? Checks represent a “big” target for fraudsters, but ACH fraud is growing faster ACH fraud growth, in fact, surprised industry leaders Has effective fraud prevention throttled check fraud…
The array of digital payment vehicles available is dizzying — Google Pay, Apple Pay, PayPal, Venmo — the list is long. Still, checks remain popular. And, it turns out, a better payment instrument when it becomes necessary to stop payment due to error or suspected fraud! MoneyWise describes easy step-by-step directions for canceling or stopping…
Over the past decade, we have seen a tremendous evolution in healthcare, particularly in healthcare payments and revenue cycle management. But how far have we come since 2014? In 2014 we sat down to talk to Mark Brousseau, President of Brousseau & Associates, to get his perspectives on the challenges and opportunities facing healthcare payments…
For all the talk of Artificial Intelligence capabilities and their value to organizations and industries of all sorts, it should be noted that, according to the 2019 MIT SMR-BCG Artificial Intelligence Global Executive Study and Research Report, nine out of ten companies have made some investment in AI, but 70 percent said they have seen…
Double-layered fraud: fraudsters who actually defrauded other recruits who thought they were “in on it” – both banks and accomplices alike we defrauded. To better detect fraud, banks need to strategically align their technologies.
MIT Sloan Management Review and Boston Consulting Group recently collaborated on a white paper exploring AI as a tool entitled Winning With AI (you can download the paper HERE). Subtitled Pioneers Combine Strategy, Organizational Behavior, and Technology, the white paper is a nice encapsulation of their global survey. Conducted in Spring 2019, the survey attracted…