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Paper Checks, COVID-19 And The Flaw With Analog Relief Payments

PYMNTS

Mobile deposit fraud was a $2 billion a year problem for banks before we were in a crisis where everybody’s desperate and people are fighting over bottles of water and toilet paper in the supermarket lanes,” Edwards remarked. And I mean now as in the next two weeks.”.

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72 Features to Look for in the Best Small Business (SMB) Digital Bank Account

Fintech Labs Insights

Bullet-proof fraud protection (no cap in maximum dollars*). Mobile app. Mobile deposit capture. ACH/electronic payments*. Bill payment*. Two-factor authentication. Immediate funds availability (with limits). Customizable alerts. Downloadable transactions (common file formats). Fraud transaction scans.

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How Have the Finovate Best of Show Winners Fared?

Fintech Labs Insights

BankOns: Mobile offers and rewards platform, integrated with banking apps for real-time savings. Mitek Systems: Mobile deposit technology, expanded into identity verification. Dwolla: Continued to grow as a payment network, focusing on low-cost transactions.

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Friday Fun: Coffee and Banking (Redux)

Fintech Labs Insights

You could incent deposits at 1 star per $10 annually with a balance cap of $5,000 or $10,000. Transaction accounts could provide 5 stars for every debit transaction, 10 for credit card charges, 5 for mobile deposits, 100 for paperless, and so on.