The Signal
Rich Dooley, MBA, CTP
Payments | Fintech | Treasury | ISO20022 | Embedded Finance | Tech, Media, Telecom | E-Commerce | Commercial Real Estate
Good morning and welcome to another edition of The Signal. This week, we’re looking at a tech future so bright, we might need to wear shades. And maybe the Fed can put on some specs to start seeing how things really are. While there’s less cash these days, what there isn’t is less check fraud. Nice to see payments getting more embedded into corporate processes and seems like folks want dollars the same day. Oh yes, many may like crypto, but please send the paycheck in real dollars. But who knows, maybe we’re wrong. Enjoy!...
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Too easy...
Despite a steep decrease in check usage over the years, fraudulent activity involving checks has continued to grow. The ease of committing check fraud is attracting opportunistic individuals and criminal operations alike. In some instances, checks are being swiped from residential mailboxes or drop-off boxes. Then, they’re removing the ink and selling the newly blank check or writing in new information. Surprisingly, this type of fraud is possible despite a slew of robust?check security protections (Off-site), such as watermarks, security threads and tamper-evident features. Fraudsters do their best to stay at least one step ahead of the measures taken to catch them and prevent losses.
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The tech future can be bright...
Great article. Long, but well worth the time. Exciting to read and a real manifesto on the upward spiral of technology development and the resulting fantastic human advancement. Our civilization was built on technology. Our civilization?is?built on technology. Technology is the glory of human ambition and achievement, the spearhead of progress, and the realization of our potential. For hundreds of years, we properly glorified this – until recently. I am here to bring the good news. We can advance to a far superior way of living, and of being. We have the tools, the systems, the ideas. We have the will. It is time, once again, to raise the technology flag. It is time to be Techno-Optimists.
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No cashola...
Effects have been on the consumer side for the most part. However, B2B is following and looking to catch up. Should see more adoption in the US too.? When it comes to payments digitization, consumer payments is just one part of the equation, Bruno noted. There is “massive growth” potential in commercial digital payments, which are about a decade behind consumer payments in some respects, he said.?There is major growth taking place in the digitization of accounts receivable and accounts payable, Bruno said.
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Fed not getting it...
See the charts. Clearly the Fed isn’t looking at them. And oh yes, shelter costs in the stats are a lagging indicator.? On a year over year basis, the CPI is up 3.7%. Excluding shelter costs, which we know are artificially inflated by BLS methodology, the CPI is up only 2.0%. It is not unreasonable to think that?the Fed has successfully arrested the inflation that was caused by $6 trillion of federal deficit spending in 2020 and 2021. Mission accomplished. No more rate hikes are needed.
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Double check...
领英推荐
Consider that thought, process, belief or, quite frankly, anything. You might be wrong, and that could be a good thing. What if I’m wrong??Good thinkers frequently ask themselves this question, the way good doctors frequently check their practices against the Hippocratic oath they swore, and not just as a formulaic ritual.
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Same day strength...
Increased limits, windows and overall convenience have led to meaningful growth. B2B a big portion of that. “The ease and convenience of Same Day ACH has been embraced by the businesses and other organizations that use ACH,” said Jane Larimer, Nacha President and CEO. “The one million dollar limit and the three settlement times each business day make Same Day ACH a great choice for faster payments.” B2B also continues to be a growth area for the ACH Network. B2B volume in the third quarter was 1.7 billion payments, up 9.6% from a year earlier.?
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Drivers...
The demand for greater payment experiences and increased digitization, among other things, are factors in the growth of the embedded space. Embedded Finance is a rapidly growing trend in the US market, with the market size projected to reach USD 230 billion by 2025. This growth is attributed to increasing demand for digital financial services, the heightened expectation of users and the start of Open Banking in the US. Additionally, Embedded Finance is expanding across industries such as retail, healthcare, education, and mobility. Growth in Embedded Finance platforms has also increased, with many companies forming partnerships with providers to offer a wider range of services.?
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Not true believers?...
Fiat overwhelmingly preferred. A new survey indicates that less than 3% of professionals in the crypto industry receive compensation in the form of digital assets. According to Pantera Capital’s latest Blockchain Compensation Survey, shared with Blockworks, 97% of the 1,600 professional respondents preferred fiat-based compensation.
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“We are what we repeatedly do. Excellence, therefore, is not an act but a habit”. Aristotle