Similar to identity theft, this type of fraud happens when an unauthorized individual gain access through online banking applications, capturing the account information to create and write bad checks.
Account-centric enterprise content management solutions allow users to access account holder information based on their account numbers.
An adverse action notice is a document sent to a loan applicant stating a bank’s rationale for denying a loan. It may also contain a counteroffer, such as a lesser amount or a request for an approved co-borrower.
The term “aging exceptions” refers to a group of critical exceptions that have not been resolved within a reasonable amount of time.
Altered check fraud occurs when a fraudster changes the amounts and Payee from a stolen check.
API is short for “application programming interface.” Technology companies like Alogent rely on APIs to connect multiple software applications, thereby enabling a two-way exchange of information to support users’ needs.
Audit and exam prep is a process that financial institutions go through in order to adequately prepare for upcoming audits and exams.
An authorized signer form is a document that allows an account holder to grant a range of clearance levels to individuals to perform certain functions within a bank account.

Omni-channel banking involves providing customers and members with consistent, reliable experiences across self-service and full-service channels. Financial institutions that successfully deliver omni-channel experiences make it easy for account holders to switch between channels without losing track of their banking journeys.

The Development of Omni-Channel Banking

Consumers’ banking needs and technological habits have changed considerably since the turn of the millennium. Faster Internet speeds, widespread availability of wireless networks, and smartphone proliferation have altered how Americans perform most tasks—including banking.

In retrospect, the implementation of Check 21 marked a key milestone in facilitating the change necessary to support today’s omni-channel banking experiences. Check 21 enabled electronic check exchange between financial institutions, opening the door to multiple deposit channels: batch capture, remote capture, teller capture, mobile capture, and ATM/ITM capture. 

Roadblocks to Omni-Channel Banking 

Ensuring consistent, reliable experiences across branches, online, mobile, and other channels isn’t easy, especially for community financial institutions with limited resources. Here are a few challenges that may inhibit omni-channel banking:

Tech sprawl: Financial institutions have adopted a variety of technologies to keep pace with customer's and members’ evolving needs. Doing so helps deliver high-tech, high-touch capabilities but results in multiple applications and infrastructure to budget for, integrate, support, and keep secure.

Exposure to risk: Customers and members enjoy facilitating their own transactions through mobile applications and other channels. Unfortunately, many bad actors see the prevalence of multiple payment channels as an opportunity for perpetuating fraudulent schemes.

Continual change: Rapid technological change has led to a myriad of downstream professional, industrial, and societal changes. Many Americans now work from home, switch companies more frequently than prior generations, or have “side hustles,” such as selling items online or driving for ridesharing companies. Online commerce has transformed how people buy clothing, groceries, automobiles, vacations, and other goods and services. Some people rarely—or never—visit their financial institution’s local branch, preferring to do all of their banking online. Such complexity can make it harder for financial institutions to truly understand their account holders.

Connecting the Dots to Support Omni-Channel Experiences

To build lasting banking relationships in the modern era, financial institutions should implement solutions that make it easier to deliver omni-channel experiences. Unify from Alogent, for example, helps banks and credit unions accomplish this goal through a single API. With Unify, images are treated the same regardless of their point of capture, resulting in enhanced consistency and efficiency.

Browse additional banking definitions or visit Alogent’s Innovation Hub for eBooks, videos, and other resources.

Explore more resources

ECM Platform Evaluation Checklist

Is Your ECM Solution Keeping Up? As a financial institution, you’re managing more than just paper - check images, scanned IDs, loan documents, emails, and video files - to name a few. The volume and complexity are increasing rapidly, and so are the risks. Is...
Read More »

Related articles

Monday 11 August 2025

From Checks to Cybersecurity: Fraud Trends from the FRFS Risk Officer Survey Every Bank and Credit Union Should Know

The Annual Federal Reserve Financial Services (FRFS) Financial Institution Risk Officer Survey recently released its 2024 findings, offering a comprehensive look into the evolving fraud…

Read the Blog

Tuesday 5 August 2025

Ditch the Paper: Why Now Is the Time for Banks and Credit Unions to Embrace Electronic Cash Letters

In today’s financial environment, speed, efficiency, and cost-effectiveness are essential. Yet many banks and credit unions still rely on paper cash letters, a legacy process…

Read the Blog

Thursday 31 July 2025

Modernization Strategies for Banks and Credit Unions: Replacing Legacy Systems to Boost Value and Security

As technology continues to evolve, banks and credit unions are under increasing pressure to replace outdated systems. They must not only deliver greater value to…

Read the Blog

Tuesday 29 July 2025

[Playbook] Leveraging Workflows to Efficiently Route Vendor Invoices

Here’s the situation: Your financial institution does business with dozens of vendors ranging from audit firms and IT consultants to the pest control company. Maintaining…

Read the Blog

Wednesday 16 July 2025

[Playbook] Integrating Banking Systems with FASTdocs like Core and Digital Banking Solutions

Here’s the situation: FASTdocs has become your financial institution’s central hub for internal and account holder documentation. However, your institution still relies on a variety…

Read the Blog

Monday 7 July 2025

Using AccuAccount to Support Doc Prep & Post Loan Booking Processes

Implementing effective doc prep procedures is key for ensuring success in today’s lending environment. Cores and loan documentation software are primary tools used by doc…

Read the Blog

Wednesday 25 June 2025

Check Fraud Mitigation: A Bank Teller’s Guide to Stop Fraud at the Front Counter

Even as digital banking continues to grow, the teller line remains an important part of daily operations in banks and credit unions. Tellers provide personal…

Read the Blog

Monday 23 June 2025

[Playbook] Document QC Review in AccuAccount

Here’s the situation: Your financial institution is looking for an ECM (enterprise content management) system that aligns with your quality control strategy . You’ve decided…

Read the Blog