Skip to content

OrboNation Check & Payment Blog

The Latest

Paper Checks: Why Individuals Still Use Them

Digital payments are all the rage -- convenient, quick, and accepted almost everywhere. However, Yahoo!Life reports that in GOBankingRates' Best Banks 2023 survey of 1,000 Americans, they uncovered some counterintuitive results: 22% of respondents said they still write checks at least once a month. And surprisingly, of these respondents, the ...
Read More

OrboNation Newsletter: Check Processing and Fraud – January 2023

Download PDF Copy of the Newsletter Fraud Expert: Check Fraud Predicted to Hit $24B+ in 2023 Suparna Goswami of the ISMG Network spoke to Frank McKenna, chief fraud strategist at Point Predictive and creator of the always informative frankonfraud website, about how banks can prep for the onslaught of check ...
Read More

The Check is in the Mail: 2023 Tax Filing Season is Upon Us

Tax season has arrived, meaning checks will be going to and from the IRS Many file electronically, but a huge amount of refunds go out via paper check Personal checks are also mailed to the IRS and therefor become vulnerable Tax filing season is upon us, and that means -- ...
Read More

OrbNet AI: Applying Technology to International Markets

Artificial Intelligence has been making waves over the past decade, establishing itself as a technology that will revolutionize nearly all industries in some capacity. The average consumer exposure to AI, ironically, typically involves news covered in media like ChatGPT  -- a chatbot launched by OpenAI which interacts with humans in ...
Read More

Community and Small Banks: How to Increase Business Banking Relationships in the Age of Fintechs

Turns out community banks and credit unions can be proud of themselves: According to a recent Javelin study as reported at Jack Henry Fintalk, businesses that identify a community bank or credit union as their primary financial institution report far greater satisfaction than those using a larger bank. However, before smaller ...
Read More

Ringing in the New Year: Community Banking Trends for 2023

2022 has been an eventful year for the banking industry. Banks have embraced technology and the digitization of banking -- confirmed by Gartner Inc predicting that banks and financial firms boosted their technology products and services investments in 2022 to the tune of $623 billion. As we look forward to ...
Read More

OrboNation Newsletter: The Best Articles from 2022

Download PDF Copy of the Newsletter BAI: Majority of Banks See Checks as Biggest 1st & 3rd Party Fraud Concern The latest BAI Deep Dive takes on "The fraud prevention balancing act: protection vs friction." Much of the discussion involves changes seen in fraud prevention techniques as consumer attitudes and ...
Read More

Five Key Factors for Innovation Success in 2023

The Financial Brand marked the end of the year with a look at what they consider the top five innovation trends to look forward to in 2023. Innovation has become a critical component of business growth in the banking industry. Beyond creating the 'next big thing,' innovation includes the creation ...
Read More

Ernst & Young: How Are Banks Pacing for the New Wave?

At EY.COM, home of Ernst & Young Global Limited, Pratik Shah, EY India Financial Services Consulting Leader, and Harshvardhan Bisht, EY India Banking and Capital Markets Leader, explain that banks must evaluate and address the evolving needs of the consumers and maintain their trust in the banking system. The advent ...
Read More

Slow Adoption of Payment Technologies by SMBs = Optimization of Current Payment Channels

Suppliers want quick reimbursement; buyers prefer slower payments Checks are popular among SMB buyers Faster payments actually mean cash flow gains It's a quandary old as commerce itself: Suppliers of goods and services want access to their funds as quickly as possible -- like, right now -- while buyers, on ...
Read More

Understanding “Hyperautomation” for Banks & Three Keys to Success

Automation has been a popular topic in the world of banking for decades (and discussed here recently as well). However, according to BankingDive.com, there is a new term now picking up steam in the banking world: Banks, of course, have been focused on automating processes to improve efficiency and customer ...
Read More

OrboNation Newsletter: Check Processing Edition – November 2022

Download PDF Copy of the Newsletter 78% of Renters Still Pay by Check - And It's Not Only Renters Writing Checks As we noted in a previous blog, checks are NOT going away. In fact, our friends at Alogent report that of non-cash payment methods, checks accounted for nearly 23% ...
Read More

Checks Are Still Relevant: A Bank’s Perspective

Checks are still widely used by various age groups and industries Pros and cons of using checks Investment in check automation is crucial As we continue to explore the relevancy of checks as a payment avenue, it's important that we keep in mind some data previously noted in our blog: Checks ...
Read More

78% of Renters Still Pay by Check — And It’s Not Only Renters Writing Checks

78% of renters still pay by check Other industries dominated by checks Investments in tech to automate check processing As we noted in a previous blog, checks are NOT going away. In fact, our friends at Alogent reported that of non-cash payment methods, checks accounted for nearly 23% of the ...
Read More

A New Era for Medical Lockbox

The medical lockbox has existed for decades -- with many banks offering this treasury management service to their healthcare clients. Traditionally, medical lockboxes are the consolidation point for paper payments and remittances, where banks process multiple payment types including ERAs, EFTs (ACH), checks, wire transfers, and now virtual cards. However, ...
Read More

Customer Experience (CX): Community Banks Increase 2022 Tech Budget by 11%

Want to keep up in the banking industry? Follow the example of executives at eight in ten banks, who noted that their 2022 technology budget was up from the previous year, with an average increase of 11% over 2021. In fact, Gartner Inc. predicts that in 2022, banks and financial ...
Read More

OrboNation Newsletter: Check Processing Edition – October 2022

Download PDF Copy of the Newsletter BAI: Majority of Banks See Checks as Biggest 1st & 3rd Party Fraud Concern The latest BAI Deep Dive takes on "The fraud prevention balancing act: protection vs friction." Much of the discussion involves changes seen in fraud prevention techniques as consumer attitudes and ...
Read More

A Deeper Dive into the 2022 AFP Digital Payments Survey

Recently, the Association of Financial Professionals -- in conjunction with JP Morgan -- released its 2022 AFP Digital Payments Survey. The survey was conducted to measure the adoption of digital payments in the US and Canada in light of recent global challenges. In particular, the survey focuses on the shift ...
Read More

Fiserv: Steps and Technology to Drive mRDC Growth

As we noted in a previous blog, business remote deposits continue to be a leading service -- particular for checks, with tremendous growth of +25%. And, according to Fiserv's Mobile Deposits Adoption Program Director, Ryan Williams, 85% of consumers currently using mobile deposit plan to continue doing so. With all ...
Read More

75% of FIs are Still in the Early Experimental Stage of AI Development

A post at The Financial Brand by Jim Marous, Co-Publisher of The Financial Brand, CEO of the Digital Banking Report, and host of the Banking Transformed podcast, paints a grim picture of AI development and adoption progress in the banking industry. Despite the importance of leveraging data and artificial intelligence ...
Read More

Competition for Banks & Neobanks: Walmart Announces Entrance into Banking

The newest episode of This Week on PYMNTS.COM covered, among other topics, the impending entry of Walmart into the banking space. PYMNTS' Karen Webster spoke to Ingo Money CEO Drew Edwards, who is sometimes referred to as "the OG [Original Gangster] in FinTech." Source: PYMNTS.com (jump to 12:55 for Walmart segment) Walmart is ...
Read More

RCM Outsourcing Market Analysis: 22% of Rev Cycle Leaders Outsource Outpatient RCM Services

A report entitled An Analysis of Outpatient Revenue Cycle Management Outsourcing, the result of a collaboration between HFMA and health information technology company XIFIN and reflecting responses from 157 US-based HFMA members, reveals that over one in five revenue cycle leaders handle their own inpatient revenue cycle management (RCM) operations. However, ...
Read More

OrboNation Newsletter: Check Processing Edition – September 2022

Download PDF Copy of the Newsletter PYMNTS.com: 81% of Businesses Still Pay Other Firms Via Paper Checks While many industry experts have predicted the demise of checks and subsequent move towards fully digital payments, the reality is that checks are NOT going away anytime soon. In fact, a new PYMNTS ...
Read More

Digital Banking: Teller Transactions Down -10%, Remote Deposits Up +25%

The San Diego Business Journal asked a group of banking leaders for their impressions of the digital revolution in banking, and received valuable insights regarding human interactions, response to pandemic-era restrictions, and fraud prevention. Even before the COVID-19 pandemic impacted the world economy in early 2020, the financial sector was ...
Read More

PYMNTS.com: 81% of Businesses Still Pay Other Firms Via Paper Checks

While many industry experts have predicted the demise of checks and subsequent move towards fully digital payments, the reality is that checks are NOT going away anytime soon. In fact, a new PYMNTS report, THE TREASURER'S GUIDE TO AR PAYMENT OPTIMIZATION, reveals that 81% of businesses still pay other firms ...
Read More

PYMNTS Study Reveals Fewer Than 10% of Consumers Use FinTechs as a Primary Bank

Even as we read more and more about the popularity of digital banking, a study by PYMNTS reveals that many consumers are not yet prepared to cut ties with their traditional financial institutions (FIs) and go fully digital. In their new collaboration with Treasury Prime entitled "How Consumers Use Digital Banks," ...
Read More

Bank Branches Transformation: “Experience Stores”

BAI examines the ongoing transformation of the branch experience: Long before the pandemic hit, many banks were well on their way to rethinking their branches to better accommodate customers' increased use of digital channels. With the net closure of nearly 3,000 branches in the U.S. last year and a similar pace in ...
Read More

OrboNation Newsletter: Check Processing Edition – August 2022

Download PDF Copy of the Newsletter The Financial Brand: Quick Guide to Successful Digital Banking At The Financial Brand, Jim Marous, industry influencer and CEO of The Digital Banking Report, and BK Kalra, Global Head of Banking and Capital Markets at Genpact, offer their four essentials for success in the ...
Read More

PYMNTS Intelligence: Digital Tools vs. In-Branch Banking for SMBs

It's an open secret that the types of products and services corporate clients demand from their financial institutions (FIs) are shifting to digital banking solutions. This month PYMNTS Intelligence takes a look at recent changes in corporate clients' requirements for online versus in-branch banking as well as how banks can ...
Read More

Will Cash Restrictions be Implemented in the US?

A report on the Globes website gives us a look at restrictions on cash payments in Israel that have been in effect since January of 2019. The law limits the use of cash in any transaction worth more than NIS 11,000 with a business and more than NIS 50,000 in ...
Read More

News Release: OrboGraph Acquired by Revenue Management Solutions (RMS)

Check Fraud and Recognition Solutions Business Will Continue to Run Independently Billerica, MA, August 16, 2022 - OrboGraph, a premier supplier of check processing automation, fraud detection, and healthcare payment electronification, announced today that Revenue Management Solutions (RMS), a provider of automated healthcare payments reconciliation services has acquired OrboGraph. Thompson Street ...
Read More

Businesses Need to Integrate SaaS to Modernize Payments

PYMTS.com reports on Cat (aka Caterpillar) -- the manufacturer of construction and mining equipment, diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives -- providing a very good example of how, via their business planning and practices, "ye shall reap what you sow." The moral of the story ...
Read More

The Financial Brand: Quick Guide to Successful Digital Banking

At The Financial Brand, Jim Marous, industry influencer and CEO of The Digital Banking Report, and BK Kalra, Global Head of Banking and Capital Markets at Genpact, offer their four essentials for success in the digital banking space. One point they make early is that, while COVID certainly accelerated adoption, the digital banking revolution was ...
Read More

OrboNation Newsletter: Check Processing Edition – July 2022

Download PDF Copy of the Newsletter Alogent: "Checks Are Not Going Away"…with Data to Back It Up! A post at Alogent starts with a very clear -- and, by now, familiar -- proclamation: "Checks are not going away." The stigma around the use of checks was even the focus of ...
Read More

The Metaverse: The Next Frontier for Banking?

Brace yourself: It's time for banks to begin planning their move to the Metaverse. Or Web3. Or Web 3.0. Or whatever they're calling it today. If you're not exactly sure what the Metaverse is, rest assured that you are not alone...but that hasn't stopped banks from eagerly diving in. The ...
Read More

Alogent: “Checks Are Not Going Away”…with Data to Back It Up!

A post at Alogent starts with a very clear -- and, by now, familiar -- proclamation: The stigma around the use of checks was even the focus of an SNL sketch, where they joked about the amount of data needed before it could be tendered. What those script writers didn't ...
Read More

Explainable AI (XAI): Challenges & How to Overcome Them

Artificial intelligence and machine learning technologies are making a big impact in the banking industry, as their ability to process millions and even billions of transactions in mere seconds is unparalleled. However, the astounding amount of data being processed means it's not without its pitfalls, particularly when it comes to ...
Read More

Checks Still Hold Significant Share of Money Mobility

PYMNTS and Ingo Money have collaborated on The Money Mobility Playbook -- an exploration on how Fintechs and FIs can provide clients and customers with optimal money mobility regardless of the type of payment or disbursement they choose to make. One of the many discoveries revealed within is that a ...
Read More

Gartner Inc. Predicts $623B Tech Investments in 2022 by Banks and Financial Services Firms

In a press release by Gartner, Inc., the company boldly predicts that banks and financial firms will boost their technology products and services investments in 2022 to the tune of $623 billion. Gartner Inc. goes on to identify what they consider the top three tech trends emerging in banking and ...
Read More

OrboNation Newsletter: Check Processing Edition – June 2022

Download PDF Copy of the Newsletter Check Deposits: Turns Out the Amount Matters The latest episode of Truth in Data, a video series by PaymentsJournal, takes a look at the ways in which banking customers prefer to deposit checks. While there is a clear need for mobile deposits, it turns ...
Read More

The Competition for Bank Deposits Requires More Than “Rate Ads”

Recent aggressive interest rate increases by the Federal Reserve, as well as geo-political uncertainties, have combined to create an environment wherein banks will be in high competition to not only gain new customers, but also retain customers -- and, more importantly, their deposits. As we are all aware, deposits are ...
Read More

Small Banks Reinventing Checking Accounts: Eliminating Overdraft Fees to Keep Up?

It's no secret that bank consumers are not fans of overdraft fees. A number of big banks eliminated overdraft and/or non-sufficient funds (NSF) fees in 2021-22, responding to governmental pressure and competition from neobanks. While this might be welcome news to the consumer, The Financial Brand reports that smaller community ...
Read More

Digital Lockbox Networks: Addressing Paper Checks’ Challenges?

Chris Clausen, executive director of digital payment solutions for Deluxe Corporation, points out via an article at bai.org that, though almost all B2B checks begin and end as data, there remains a "messy middle" consisting of conversions from electronic to paper and back to electronic. That creates both time and ...
Read More

Check Deposits: Turns Out the Amount Matters

In a recent PaymentsJournal Podcast, guest speaker Chuck Doherty, Fiserv's Director of Client Relations for Deposit Solutions, and Sarah Grotta, Director of Debit and Alternative Products Advisory Service at Mercator Advisory Group, discussed the growth in adoption of mobile deposits. Click the images above to enlarge. The podcast provided data points on ...
Read More

OrboNation Newsletter: Check Processing Edition – May 2022

Download PDF Copy of the Newsletter 75% of Surveyed FI's Companies Now Employ High-Performance Computing, Deep Learning, and Machine Learning PYMNTS.com reports on the move toward more efficient digital processes -- accelerated, of course, during the trend away from in-person banking that began as a result of the COVID pandemic. ...
Read More

Review your check processing needs with an OrboGraph expert.

Sign up below for your complimentary assessment or to request
estimated solution pricing from OrboGraph.

Review your needs with an OrboGraph expert.

Sign up below for your complimentary assessment or to request
estimated solution pricing from OrboGraph.