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OrboNation Newsletter: Check Processing Edition – July 2021


A Real Life Innovation Lab Story at Royal Bank of Canada

Recently, Royal Bank of Canada (RBC) has taken an approach similar to that of OrboGraph's OrbNet AI Innovation Lab to bring AI technology to the financial industry; partnering with NVIDIA and Red Hat to create Borealis AI.

But what is Borealis AI? And what do they do? Well, Borealis AI...

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Strategic Treasurer: 90% of Banks Rank BEC as Top Fraud Concern

Once again, we see evidence that the COVID pandemic boosted the frequency and sophistication of fraud activity. As tallied in the 2021 Treasury Fraud & Controls Survey by Strategic Treasurer and related by Omri Kletter, global VP for fraud and...

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Pandemic Fraud Infographic

Building a Platform Requires AI Diversity & Partnership

Artificial Intelligence can be a dizzying technology to understand. While the term gets tossed around everywhere you turn, it's important for financial institutions to have a strong baseline of knowledge on the different types of AI, in order...

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Seven-Step Deposit Fraud: Would Your Bank Catch This?

We all know about scams involving passing fake or altered checks, but what about elaborate multi-step operations? Here's an interesting "What if?" exercise -- could your bank spot this scam? The short version: A 37-year-old New Jersey man and two...

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The customer experience is enhanced when investing in fraud technologies.

Rise of the Machines — Interactive Teller Machines (ITMs), That Is…

No, this is not a scene from a sci-fi action movie starring the immortal Arnold Schwarzenegger. As far as we know, there is no "Skynet" that has developed an artificial intelligence with the motive of eradicating all human life. However, there are strong signals that...

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A Look Inside the New FFIEC Information Technology Examination Handbook

The Architecture, Infrastructure, and Operations Booklet is one in a series of booklets that compose the Federal Financial Institutions Examination Council (FFIEC) Information Technology Examination Handbook (IT Handbook), prepared for use by examiners...

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hacker  phishing scam during coronavirus pandemic cyber security concept

Three Ways the Pandemic Changed the Fraud Economy

There is no doubt that the pandemic has created opportunities for fraudsters. Atlas VPN reports that cybercrime cost the world more than $1 trillion in 2020, which works out to around 1% of global GDP. Access via online "pirating" to information like email addresses...

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Fighting Fraud with Forensic AI: How to Test Performance

Financial institutions have it down when it comes to check processing, posting, automation, and IT. However, when it comes to check fraud prevention, many live in fear. Why? Because they either have outdated solutions, or they are “rolling the dice” and hoping...

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Stop Fraud OrbNet Forensic AI-01

The New Standard: AI and GPU White Paper

As a subscriber to the OrboNation Blog, you have undoubtedly seen articles involving Artificial Intelligence (AI) and GPUs and how this combination of breakthrough technologies are part of the future for banking. The adoption of GPU hardware is enabling the combination of a "New Standard" for solving the difficult problems...

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