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. It's all in the latest Digital-First Banking Tracker®, wherein PYMNTS examines how FIs can realize savings in time and resources while ...

The latest PaymentsJournal podcast, with 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, discusses mobile check deposits, best practices to drive greater accountholder adoption, and the challenges financial institutions face as ...

It's no surprise that the banking industry has become more dynamic, trending towards technology to help meet ever-changing customer demands. While large financial institutions have the resources to adapt to these changing needs more quickly, community banks and small financial institutions must be more strategic, as each decision can drastically ...

The OCC's senior deputy comptroller for midsize and community bank supervision, Sydney Menefee, recently spoke to American Banker about some of the changes she's observed in the decade since the Office of the Comptroller of the Currency last overhauled its supervision of small and midsize banks. "The industry has evolved, ...

Download PDF Copy of the Newsletter Fiserv Survey: 64% Would Increase Check Usage if Funds Were Immediately Available Victoria Dougherty, Fiserv's Director of Product Management, Financial and Risk Management Solutions, notes that "reports of the paper check's death have been greatly exaggerated." Most people still write and cash checks, even ...

Victoria Dougherty, Fiserv's Director of Product Management, Financial and Risk Management Solutions, notes that "reports of the paper check's death have been greatly exaggerated." Most people still write and cash checks, even if they do it less frequently. Plus, with fewer checks in circulation, the checks people write and receive ...

A recent Forbes article takes the reader on a nostalgic trip to another era: If you're of a certain age, you might remember going to a drive-thru bank, where you'd put your deposit into a container outside the bank building. Your money was then sucked up via pneumatic tube and ...

EPAM Continuum released a report entitled Regional Banks Reimagined. This project presents the results of their annual survey covering attitudes and behaviors of banking customers around the globe. In their inaugural effort, they surveyed 4,500 consumers across four countries to understand their beliefs; for 2021, EPAM surveyed more than 21,000 ...

PYMNTS.com reports that many businesses are looking for ways to optimize their accounts receivable (AR) and accounts payable (AP) processes in line with their emerging digital needs. One might imagine that check payments are becoming scarce. Wrong. In fact, some experts estimate that 40% of all B2B payments in the ...

Download PDF Copy of the Newsletter Ingo Money: Checks are "Money Mobility Instruments" & Fraud Targets Ingo Money CEO Drew Edwards recently had a conversation with PYMNTS' Karen Webster where Mr. Edwards emphasized the "good news-bad news" surrounding checks in that they can be a critical component of money mobility, ...

As a leader in the check fraud prevention industry, OrboGraph continues to invest in the development in its technology and solutions designed to increase financial institutions' capabilities for check fraud detection. This level of investment and dedication has led to OrboGraph's OrbNet Forensic AI being recognized a winner of 2022 ...

PYMTS.com reports, via their January 2022 ConnectedEconomy™ Report, that a substantial amount of U.S. consumers -- 67% -- say they interact with their bank using digital channels, including such functions as checking their balances, paying bills, and monitoring transaction alerts. As Bank of America CEO Brian Moynihan told CNBC in ...

In an era of digital payment avenues that seem to double in number every month, checks may seem old fashioned and ready to be left behind, However, as we've illustrated here previously, checks remain key tools for many individuals and businesses. As noted in PYMNTS.COM: Eighty-one percent of business professionals ...

This past October we reported that the US Post Office was experimenting with offering some banking functions to aid underserved neighborhoods and populations. These services were to include check cashing, bill paying, ATM access, expanded and improved money orders and expanded wire transfers, with select Postal Service locations in Washington, ...

Download PDF Copy of the Newsletter LexisNexis Study Reports $4.00 in Fraud Costs per $1.00 Fraud Loss BA Banking Journal reports on a new study called "The True Cost of Fraud™" from LexisNexis Risk Solutions that reveals rising monthly fraud attacks in 2021 compared to the year prior. According to ...

Charlie Peterson, SVP for Allied Solutions, a Carmel, Ind.-based provider of insurance, lending and marketing products for financial institutions, addressed the importance of Artificial Intelligence to financial institutions -- specifically credit unions -- in an article for Credit Union Times. Artificial intelligence (AI) is becoming the norm in both business ...

There are so many intriguing digital payment platforms emerging every week, surely the "antique" check must be fading fast, right? Wrong. On the occasion of its full-year earnings call on Feb. 3rd, Deluxe Corp. reported that their checks segment's revenue increased just over 6% year over year. Pymnts.com reports that this is ...

In a digital society where the younger generation has created new nomenclature such as "I'll Venmo you" to send person-to-person payments or asking if a vendor accepts PayPal (and perhaps soon, "Do you accept Bitcoin?") The Financial Brand took a look at the future of checking accounts. The article provides an ...

Even though we've just met, no one is standing on ceremony with "Charles," or even "Charlie." Nope - it's CHUCK™ right out of the gate. CHUCK is an open network for instant payments, created by a consortium of community banks. American Banker reports that "more banks will roll out their ...

Download PDF Copy of the Newsletter Keeping Your Bank Up-to-Date with American Banker's Top Trends for 2022 As we start off the new year, an article from the American Banker highlights seven bank trends to watch in 2022. The key, according to their analysis, is providing ultraconvenience to customers. As you take a look ...

In what might very well become an industry standard practice, Bank of America (BAC) is the latest major financial institution to announce that it is ending fees for insufficient funds. They also plan to cut overdraft fees from $35 to $10. These new policies go into effect in February. CNN Business Reports "Bank of ...

As we start off the new year, an article from the American Banker highlights seven bank trends to watch in 2022. The key, according to their analysis, is providing ultraconvenience to customers. As you take a look at the list below, we strongly recommend you compare the trends to your ...

The COVID-19 pandemic has impacted almost every facet of the lives of individuals, as well as how business operates. This also includes how payments are made. With businesses shuttering offices and many millions of jobs moving to hybrid or fully remote positions, the way individuals and businesses make payments for ...

American Banker sheds some light on an example of modernization in action at Viewpointe, which was founded by big banks over 20 years ago primarily to store digital images of checks. When the physical transportation of checks temporarily halted after 9/11 -- compounded by legislation known as Check 21, which ...

Download PDF Copy of the Newsletter Will Check Fraud in 2022 Mirror 2021? Start Preparing Now. Recently, the Association of Financial Professionals (AFP), in conjunction with JPMorgan, published new data in their 2021 AFP Payments Fraud and Control Survey, reporting post-pandemic figures indicating that "In 2020, checks and wire transfers ...

We live in a world where pretty much everyone carries a phone in their pocket that is capable of instantaneously sending and receiving digital payments, virtually eliminating the need for paper money or checks. So, checks should be an artifact of the past -- something you have to explain to ...

American Banker features the story of The Milford Bank, a 149-year-old community institution in Connecticut that wants to attract a younger audience. It faces a challenge, of course, in how much it can do in-house in terms of enhancing its tech, or even researching, testing, and eventually integrating products from ...

As the final days of 2021 wind down, we'd like to thank all our partners and clients for supporting OrboGraph in a record breaking year. Also enjoy our holiday video below! Season's Greetings! The OrboGraph Family

If you are a reader of American Banker, you may have come across "Leaving the 'numbing' tasks to machines" (fear not, you can access the article free through a guest account.) The article addresses a common misconception that automation -- and the underlying technology such as Artificial Intelligence and Machine ...

In his FinExtra Blog, Dmitry Dolgorukov, the CEO of GiniMachine, takes a look at the newest trends and tech that the industry will need to be aware of ASAP in order to remain competitive. Back when we first heard of Bitcoin in 2009, many brushed off the cryptocurrency as just ...

Most -- if not all -- individuals and organizations in the banking industry is at least familiar with the Federal Register, the Daily Journal of the United States Government. This is an important resource for banks, particularly for the Chief Compliance Officer, the BSA Officer, and their departments, as it ...

Download PDF Copy of the Newsletter The 'Omnichannel Credit Union': Not Just 'a Thing' - It's Working, Too! The challenge: 55% of credit union members have used a product or service from a different bank or financial institution, according to the Credit Union Tracker produced by PYMNTS, in collaboration with ...

We previously took a look at the similarities and differences between The Matrix experience and OrboGraph's OrboZone experience. Both offer a truly dynamic experience, so we would be remiss not to take a deeper dive into another key pillar in The Matrix Film Series: The AI driving the Machines. With ...

The challenge: 55% of credit union members have used a product or service from a different bank or financial institution, according to the Credit Union Tracker produced by PYMNTS, in collaboration with PSCU. That means more than half of all credit union members are effectively "comparison shopping." How do credit unions ...

KLA Corporation (Nasdaq: KLAC) -- parent company of OrboGraph -- recently released their September 2021 earnings, announcing that revenue grew 8% sequentially and 35% year-over-year to $2.08 billion, finishing toward the upper end of the range of guidance. About KLA Corporation Expand KLA Corporation ("KLA") develops industry-leading equipment and services ...

Last week, the OrboNation blog featured the NVIDIA GTC Virtual Conference, highlighting the importance of GPUs to Artificial Intelligence in financial services. These dynamic sessions provided attendees with information invaluable to advancing financial services, particularly the banking industry. To further display the benefits and results of artificial intelligence in banking, ...

Have you seen the new trailer for The Matrix Resurrections -- in theaters and HBO on December 22, 2021? Watch it again below. The Matrix film franchise (see Wikipedia page) has many interesting characters, including Morpheus, who said: "Unfortunately, no one can be told what the Matrix is. You have to ...

NVIDIA's GTC virtual conference is set to take place November 8-11, and it promises to be a valuable resource for getting (and staying) up to speed on the latest technology in use and development across myriad industries. If you are not familiar with the conference: NVIDIA GTC is a global ...

Community banks and credit unions are at a disadvantage. Their lack of necessary internal resources and budget to upgrade their systems and integrate new technologies compared to big banks means the "cutting edge" services that a new generation of consumers have come to expect are slower to arrive at "non-giant" ...

Download PDF Copy of the Newsletter Google Abandons Plans to Offer Plex Checking Accounts - While Post Office Looks to Cash Checks About two years ago, Google shook the financial world a bit when it announced its intention to offer checking accounts to its users in partnership with banks and ...

About two years ago, Google shook the financial world a bit when it announced its intention to offer checking accounts to its users in partnership with banks and credit unions. Google was initially planning to work with Citigroup and Stanford Federal Credit Union. That is no longer the case, as ...

JPMorgan Chase is known as an early adopter of cutting-edge tech, and, true to form, they are deploying a new, cloud-based core system for their retail bank using software developed by Thought Machine. Cloud computing in the fintech world is certainly not new at this stage, but seeing it embraced ...

A couple of days ago, Facebook went offline for approximately six hours and it made international headlines. Afterwards, it was revealed that a relatively minor internal error caused the outage, which reportedly cost Mark Zuckerberg seven billion dollars (with a "b"). However, everything was soon back on line completely intact, ...

Many of us who have been working in the bank and financial industry for more than a few years can remember when the concepts of cloud services, enterprise payments, and payment hubs were speculative and almost "science fiction." However, one day you wake up and what used to be "Star ...

Download PDF Copy of the Newsletter Ceto & Associates: Community Banks are at a Disadvantage in Fraud Detection Community banks and credit unions are at a disadvantage. Their lack of necessary internal resources and budget to upgrade their systems and integrate new technologies compared to big banks leads to gaps ...