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Moore’s Law famously states that the number of transistors on a microchip doubles every two years, though the cost of computers is halved. A new essay on Medium.com explores how Moore’s Law had actually been “phasing out” for a period of time: Moore’s Law, one of the fundamental laws indicating the exponential progress in the…
Checks are still ubiquitous across generations. They remain popular, and they are — in spite of repeated premature eulogies — still alive and well in the world of treasury and B2B. Let’s say you have a check payment from a friend, or you’re running a small business on check payments, or you’re still getting a…
The ability of fraudsters to create an image of a check is not necessarily a new technique. What is newsworthy is accessibility.
It seems like not so long ago cloud computing was a nifty pie-in-the-sky idea (see what we did there?) that we’d eventually embrace along with personal jet packs and resorts on the moon. While the jet packs and moon lodgings are still off in the future, let’s make one thing clear: cloud computing is not…
As reported at McKinsey.com, an analysis by the McKinsey Global Institute (covering more than 800 jobs and over 2,000 work activities) showed that: Globally, almost half the activities employees perform—which account for nearly USD 16 trillion in wages—could potentially be automated using existing proven technologies. Automation will transform far more jobs than it will eliminate.…
Pymnts.com features a podcast with Ingo Money CEO Drew Edwards and Karen Webster discussing the new risk of fraud related to remote mobile check deposits. “Mobile check capture fraud is now escalating so badly that some banks are thinking about shutting it off, because the losses just aren’t worth it,” Edwards states. It’s an interesting…
The Federal Reserve announced last week that it is working on a real-time payments system, the biggest infrastructure upgrade embraced by the government body since the ACH system went online in 1972. At a speech in Kansas City, Mo., Fed Governor Lael Brainard confirmed what the payments industry has long awaited, and she said the…
An article from Digital Transactions finally quantifies the relationship between payments fraud and terrorism! Startling facts in this report show that, outside of pure fraud losses, there is a crucial national security component to fraud prevention. Information-security firm Terbium Labs, in its “The Next Generation of Criminal Financing: How Payment Fraud Funds Transnational Crime” report,…
PYMNTS.COM takes a look at the implementation of Artificial Intelligence solutions in Financial Institution fraud departments — or, rather, the stunning lack thereof: AI systems are unique, can process large volumes of data in real time and can “learn” to quickly identify suspicious financial activity. Yet, few FIs leverage this technology in their anti-fraud efforts…
HealthcareDive takes a look at changes and trends it anticipates in the coming year, mainly due to political ripples from Washington (for instance, a judge’s declaration that the Affordable Care Act is no longer constitutional) and emerging consumer preferences. Their snapshot of a few big trends for the payer and provider crowds to watch for…