The Evolving Trends of Check Fraud: What the Financial Industry Experienced in 2023

2023 proved to be a challenging year for the banking industry as it witnessed a surge in fraudulent activities. New schemes emerged, while older and enduring challenges continued. Let’s delve into the impacts of check fraud and forgery schemes. In their 2023 Fraud and Financial Crimes Report, Kroll, an advisory firm focused on risk, governance, […]

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Demand for Easy Access to Document Data Continues to Climb

Data extraction software has increased in popularity over the past few years, helping companies become more efficient with their daily activities. Some industries use data extraction software when validating and verifying data while others use it to simplify complex processes. No matter the end goal, data extraction software can prevent the big mistakes that manual […]

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Losing Weight Without Spending 4 Hours at the Gym

e·qui·lib·ri·um /ˌēkwəˈlibrēəm,ˌekwəˈlibrēəm/ noun: equilibrium; plural noun: equilibria a state in which opposing forces or influences are balanced. The key to losing weight is to focus on inputs and outputs. If you are eating more calories than you are burning, you gain weight. If you are at a state of equilibrium, you maintain your current weight, […]

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The 10,000-Hour Rule & IDP

In Malcolm Gladwell’s book “Outliers”, he popularizes the concept that to be great at anything requires at least 10,000 hours of practice. He argues, citing various studies, that the more research conducted into acknowledged high-performing individuals across many fields, the less innate talent mattered and the more critical was a near-ritualistic devotion to preparation and […]

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white desk with xray, keyboard, mouse and stethescope

When Revenue Cycle Management Goes Rogue

An interesting story of advanced analytics used not to fight fraud, but potentially to enable it, was highlighted when the Justice Department filed a civil complaint of fraud last week against both a health plan and its technology services provider. At the core of this complaint is the accusation that the technology services provider used […]

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Machine learning

Are You Ready for Intelligent Document Processing? | Part 2: The Rise of Machine Learning

How can IDP software simultaneously push through both the complexity barrier and expand to more complex documents? Machine Learning, that’s how. Now, I won’t ever make the claim that machine learning is a magical silver bullet, but when it comes to the chore of crunching large amounts of data to identify patterns and optimal solutions, […]

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big data processing

Are You Ready for Intelligent Document Processing? | Part 1

Don’t call it “OCR” anymore. Intelligent Document Processing (IDP) or what analyst firm Deep Analysis calls “cognitive capture” is something well beyond the traditional approach of applying brute force OCR on documents in order to create searchable content. In fact, increasing OCR is not needed at all with more and more documents born digital. All […]

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