Skip to content

OrboNation Check & Payment Blog

The Latest

Is Instant Disbursement the Answer to Fraud?

Check fraud continues to grow at an alarming rate PYMNTS reports Fed recommendation of electronic payment methods, or "instant disbursement" The data show less than 50% adoption of instant disbursement As we all know, check fraud continued to surge in 2023, and is likely to surge in 2024. A post ...
Read More

Drivers for Upgrading Core Systems in Banking

Core Banking systems are becoming vital Centralization of information is key Straight-Through Processing ranks high in importance for successful core banking At Fintech Futures, Principal Fintech Analyst at Omdia Philip Benton takes a look at the state of core banking systems. He appropriates his fellow FinTech Futures columnist Dharmesh Mistry's definition: ...
Read More

Starting from the Beginning: Common Check Fraud Scams and Examples

There are common fraud tactics to look out for Check fraud is on the increase Consumers can stop fraud by being aware of certain telltale signs While many of our blogs take an in-depth look into different topics and trends surrounding check fraud, it's important to remind ourselves of the ...
Read More

Bank M&A: Fraud Concerns with Legacy Systems

Michael Hsu backs FDIC's proposal for increased scrutiny of bank mergers surpassing $100 billion Legacy systems in banking pose vulnerabilities that can be exploited by hackers during mergers Larger financial institutions are more reluctant to adopt open banking Mergers & acquisitions are commonplace in the banking. Whether it's two financial ...
Read More

Fintech Futures: Are Legacy Core Systems the Banking Equivalent of “Kodak” and “Blockbuster”?

The days of overnight processing in the consumer banking sector are over About 50% of banks, however, still use overnight batch processing Real-time data processing is now not only recommended, but crucial At Fintech Futures, banking industry veteran Dharmesh Mistry argues that that many banks still rely on outdated legacy ...
Read More

Ex-US Secret Service Member Recounts the History of Check Fraud Investigations

The United State Secret Service also investigates financial crimes Check fraud detection used much different methods in the 90s Check fraud is on the rise, but so is the effectiveness of AI tech designed to detect and prevent it Some may be surprised to see the Secret Service mentioned in ...
Read More

Push Notifications – Putting the Onus of Check Fraud on Consumers?

Check fraud is on the rise in the US Fraudsters have many methods at their disposal Direct engagement between banks and customers can help reduce fraud In an article at Refine Intelligence, Daniel Shkedi, Head of Product Marketing & Strategy at Refine Intelligence, opens with a flashback: Late one restless ...
Read More

OrboNation Newsletter: Check Processing and Fraud – March 2024

Download PDF Copy of the Newsletter The Importance of Deploying a Rules Engine in Check Fraud Detection The importance of having a multi-layered technology approach to check fraud cannot be overstated. It's crucial to integrate myriad technologies -- such as transactional/behavioral analytics, image forensic AI, consortium data, dark web monitoring, ...
Read More

Slow Adoption of FedNow — B2B Payments to the Rescue?

FedNow is the Federal Reserve's instant payment system that launched in 2023, with over 300 participating banks so far. However, according to a post on the American Bankers Association's website by David Ritter, director and financial services strategy at CI&T, a global digital specialist, many banks remain hesitant to fully ...
Read More

OrboGraph Awarded AI Excellence Award by the Business Intelligence Group for Innovations in Check Fraud Detection

OrboAnywhere Sherlock 5.3 Release blends consortium and dark web monitoring with image forensics Burlington, MA, March 26, 2024 - OrboGraph, a premier supplier of check processing automation and fraud detection software and services, has won the prestigious AI Excellence Award in the Hybrid Intelligent Systems category for significant contributions to ...
Read More

In Challenging Times, Banks Cannot Afford to Defer Tech Investment

Current conditions may make banks conservative with tech investments AI is emerging as a vital tool Banks will need to stay up-to-date with AI in order to remain competitive The Financial Brand asked Pal Krogdahl, director of technology strategy and advisory services at digital banking platform provider Samlink, to share ...
Read More

US-Based Oracle Making Waves in the Banking Industry

Not long after we heard news that Apple has taken advantage of "open banking" in the UK to introduce a new feature allowing customers to connect eligible debit and credit cards in their Apple Wallet, Fintech Futures reports that US-based software provider Oracle has made two significant deals in 2024. ...
Read More

OrboGraph Introduces OrboAnywhere Sherlock Version 5.3 to Address Increasing Check Fraud Attempts

Massive feature expansion delivers improved detection with reduced false positives Burlington, MA, March 11, 2024 - OrboGraph, a leading provider of check fraud detection and image recognition solutions, is excited to announce general availability of their new OrboAnywhere Sherlock 5.3 Release. Sherlock 5.3 provides a powerful list of new weapons ...
Read More

Writing Checks: Good for the Brain

Writing checks may seem antiquated. However, there are many advantages, including having a paper trail for your payment and the "buffer" time from sending to depositing. Here's another advantage that comes from making sure people are comfortable using checks that you may not have considered: Checks can actually make you ...
Read More

OrboNation Newsletter: Check Processing and Fraud – February 2024

Download PDF Copy of the Newsletter Exploring the Stolen Check Market on the Dark Net with Dr. David Maimon OrboGraph's Joseph J. Gregory and Dr. David Maimon recently discussed the Dark Web or Dark Net, which is becoming the supermarket for fraudsters looking for raw materials to use as tools ...
Read More
Check fraud detection

Effective Strategies for Check Fraud Detection: Proven Techniques to Safeguard Your Financial Institution

In the fast-paced world of banking, keeping up with the latest technological advancements is essential for success. For banks, successfully managing check fraud remains a critical concern, even as the industry shifts toward digital transactions.  Legacy systems can be a limitation, and institutions must upgrade to the latest tools and ...
Read More
Check Fraud Solutions

Comprehensive Solutions for Check Fraud Prevention and Detection: Efficient Strategies for Financial Institutions

As a global leader in check fraud detection and prevention, we at OrboGraph understand that the financial industry faces countless challenges in combating financial fraud. To protect our clients, we are committed to remaining at the forefront of check fraud detection and prevention by providing comprehensive solutions that incorporate advanced ...
Read More

Over Half of All Banks Express Concern About Legacy Tech Dependency

Over half of bank execs polled are concerned about dependency on legacy technology The same execs have a positive outlook for 2024 Less than 8% of the execs polled expect to reduce their tech spending in the coming year Monitor Daily reports on a survey of over 100 bank executives ...
Read More
Legal Landscape of Check Fraud

Understanding the Legal Landscape of Check Fraud: Key Aspects and Implications

As a global leader in check fraud detection and prevention, we at OrboGraph understand the complexities and changing landscape of check fraud in the financial industry. Even with the rise of digital payment methods, check fraud remains a considerable risk for banks and credit unions. Notably, fraudulent actors are employing ...
Read More
Check Fraud Statistics

Check Fraud Statistics 2023: Revealing Alarming Trends and Numbers

As a global leader in the fields of check fraud detection, check fraud prevention, and image recognition solutions, we at OrboGraph are committed to remaining at the forefront of fraud detection and prevention in the financial industry. With the rapid evolution of technology and the increasing sophistication of fraudsters, staying ...
Read More
Check Fraud Cases

Notorious Check Fraud Cases and Lessons Learned: Unveiling Crucial Insights for Prevention

As a global leader in check fraud detection and prevention, we at OrboGraph understand the challenges banks face concerning check fraud and constantly strive to offer innovative solutions. One effective method to protect financial institutions and their customers is to examine notorious check fraud cases and learn from them. By ...
Read More
Types of Check Fraud

Types of Check Fraud and How Banks Can Recognize: A Concise Guide

In recent years, check fraud has continued to be a significant concern for banks, as criminals have turned their attention to checks.. As a global leader in the fields of check fraud detection, prevention, and image recognition solutions, we at OrboGraph understand the importance of staying ahead of these threats. ...
Read More

Are Bank Branches Making a Comeback?

"In-person banking is fading away." Wall Street's biggest bank would beg to disagree. Bankingdive.com reports that banking giant JPMorgan Chase plans to expand its branch network significantly over the next few years, aiming to open over 500 new branches focused on underserved areas, according to a statement seen by Reuters and The Wall ...
Read More

Visa’s Acquisition of Pismo Banking Platform Continues Trend of Major Companies Entering Banking

Not long after we saw Elon Musk's X (ex-Twitter) make moves into payments, Visa has successfully completed its acquisition of Pismo, a global cloud-native issuer processing and core banking platform, for $1 billion in cash. Earlier reports said Visa was competing with at least one other firm to acquire Pismo. The ...
Read More

OrboNation Newsletter: Check Processing and Fraud – January 2024

Download PDF Copy of the Newsletter Exploring the Strengths and Weaknesses of Positive Pay Systems for Check Fraud Detection Recently, OrboGraph's Marketing Manager and Check Fraud Detection Specialist James Bi had a conversation with a mid-sized bank about check fraud detection solutions. Specifically, this bank was interested in positive pay ...
Read More

X Marks a Spot in Payments — Maybe

Elon Musk, who now owns Twitter (rebranded as X), plans to launch a peer-to-peer payments feature on the platform in 2024. Musk said he expected payments to launch by mid-2024 pending regulatory approvals from states. Approvals from California and New York are seen as particularly important for the payments launch. ...
Read More

Alogent’s 2024 New Years Resolutions for Mobile Banking

Wendi Klein, VP of Marketing at Alogent, asks if 2024 just might be the time to take an even more serious look at mobile banking and suggests the best ways to take advantage of what has by now become an expected banking feature: With the kick-off to 2024, it's an ...
Read More

Millennials and GenZ: The Newest Check Writers?

In the newest segment of their "I've Always Wondered" series, which addresses questions many of us have about the economy and spending habits, Marketplace tackles the question: "Why do we still use paper checks?" For insight, they consulted experts. There are a slew of reasons explaining our continued check use. ...
Read More

OrboNation Newsletter: Check Processing and Fraud – The Best Articles from 2023

Download PDF Copy of the Newsletter Washington Post: "Checks Are Dead"…Not So Fast! This proclamation comes from reporter Andrew Van Dam in a recent article from the Washington Post. In a few years, comically oversized foam-board novelty checks will be the last remaining evidence of a 20th-century icon, as the ...
Read More

Reviewing the Top Headlines for ATMs in 2023

As we are all aware, the pandemic has changed the behavior of consumers when it comes to depositing checks -- they've adopted mRDC and ATMs as their main deposit channels. In turn, ATMs have evolved over the past few years, offering new services to accommodate this change in behavior. As ...
Read More

The Increasing Importance of Fintech Partners to Financial Institutions and Their Customers

McKinsey and Company sat down with leaders on the front lines to talk about the need for -- and advantages of -- third parties to help financial institutions with data analytics, modernization of core technology, and extension of customer reach beyond traditional banking channels. Joining the discussion were: Diego Caicedo, ...
Read More

Virtual Cards to Replace Paper Checks in B2B Payments? You Be the Judge.

In a recent interview, Drew Edwards, the CEO of Ingo Money, shares his predictions with PYMNTS on shifting from check payments with the help of AI and faster payments. "We're moving beyond simply 'kill the check,'" he said of B2B payments, "which is where we were just a few years ...
Read More

OrboNation Newsletter: Check Processing and Fraud – November 2023

Download PDF Copy of the Newsletter A Deeper Dive into the Reported $155M in Check Fraud Losses It's widely accepted that industry check fraud attempts and losses have grown 200% to as high as 400% since pre-pandemic levels. However, as all are well aware, each bank is different; attempts and ...
Read More

Apple: New Open Banking Feature Launched for UK Customers

It is no secret that the banking industry is a ripe target for big tech. Recently, we've seen Elon Musk's "X" make it known they are entering the payments realm, having begun the process of applying for regulatory licenses and development of the software needed. Additionally, we saw Apple launch its ...
Read More

Strategic Tech Decisioning Key for Future Success of Financial Institutions

A new article by Bain & Company shares what they've learned after analyzing the performance of 42 of the world's largest banks based on total shareholder return, cost-to-income ratio, and net promoter score over the past few years. Its findings? No surprise here: Banks leading in technology delivered higher returns, ...
Read More

OrboGraph Partners with Dr. David Maimon, Expert in Proactive Fraud Intelligence

Relationship will drive new innovation and collaboration around dark web check fraud prevention Burlington, MA, November 13, 2023 - OrboGraph, a global leader in the fields of check fraud detection and image recognition solutions, is excited to announce a strategic partnership with Dr. David Maimon, Professor at Georgia State University, ...
Read More

Diversity of Deposits Key for Digital Banking Success

As we've noted in previous blog posts, digital banking is growing by leaps and bounds - good news for financial institutions, as digital banking availability and usage have been shown to boost customer loyalty and provide a host of other upsides. However, as explained via a post at BAI.org by ...
Read More

Artificial Intelligence: Futuristic Dream or Realizable Present?

Artificial intelligence has been one of the hottest topics within the banking industry over the past few years. Every day, banking professionals are bombarded with emails from publications and vendors relating how AI is the greatest thing to happen to the banking industry; yet, according the American Banker, the excitement ...
Read More

OrboNation Newsletter: Check Processing and Fraud – October 2023

Download PDF Copy of the Newsletter 63% of Businesses Report Experiencing Check Fraud Activity One would think that, with digital payments becoming more and more pervasive, we should expect the check fraud threat to begin shrinking. Unfortunately, that is not the case. As reported on the Minnwest Bank website, a ...
Read More

Artificial Intelligence: Closing the Gap Between Large Financial Institutions and Regional Banks

Zor Gorelov, chief executive officer and co-founder of Kasisto, discusses in post for BAI how regional banks can use AI to improve efficiency and remain competitive with larger banks -- in spite of potentially daunting hurdles like costs and compliance concerns. 2023 has been challenging for regional banks in the ...
Read More

FIS Details Emerging Technology Trends That Will Revolutionize Retail Banking

Jim Marous, Top 5 Retail Banking Influencer, Global Speaker, Podcast Host, and Co-Publisher at The Financial Brand, described in a post for fisglobal.com the four emerging technology trends that will, he believes, revolutionize retail banking. The importance of developing and deploying new digital services, building new business models and transforming ...
Read More

OrboGraph to Present at ThreatAdvice Fraud & AI Conference

Sharing key metrics on check fraud trends across the industry, empowering community banks Burlington, MA, October 16, 2023 - OrboGraph, a leading provider of check fraud detection and image recognition solutions, is excited to announce its participation in the upcoming ThreatAdvice Fraud & AI Conference. The conference will take place ...
Read More
Today’s “One-Shot” Customer Service Opportunity in the Bank Branch

Emphasizing “Trust” in Banking: Relationships Between Customer & Bank, Bank & Vendor

A new study by PYMNTS reveals that, when choosing a bank, the majority of consumers are looking for a trustworthy FI when narrowing down their choices: In the report "Credit Union Membership and Credit Profiles," PYMNTS leverages insights gathered from a survey of over 4,000 U.S. consumers and 100 credit ...
Read More

Central Bank Digital Currencies (CBDC): “Canadians Don’t See a Need”

Previously, we covered the United Kingdom and their push for the "digital pound." While there are many benefits for a central bank digital currency (CBDC), the real question remains: "Is there a desire or need for them?" This is the question being pondered in Canada. In a story covering a ...
Read More

OrboNation Newsletter: Check Processing and Fraud – September 2023

Download PDF Copy of the Newsletter Washington Post: "Checks Are Dead"…Not So Fast! This proclamation comes from reporter Andrew Van Dam in a recent article from the Washington Post. In a few years, comically oversized foam-board novelty checks will be the last remaining evidence of a 20th-century icon, as the ...
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.