Fast Facts: Student Loans

January 22, 2013
/   Insights

The Financial Services Roundtable recently released another iteration of its Fast Facts, reliable, bullet-point research about issues facing the financial services industry. Topics span TARP, Dodd-Frank, insurance, lending, retirement savings and more.  Below are some updated Fast...

Cause and Effect: If you build it, will they come?

July 23, 2014
/   Spotlight

Many financial institutions assume that digital banking is lucrative because the most valuable customers happen to bank online. While there is certainly a correlation between online bankers and higher profitability, quantitative evidence suggests that...

Intuit 2020 Report: The Future of Financial Services

April 11, 2011
/   Insights

Today, Intuit released the latest edition of the Intuit 2020 report, Intuit 2020 Report: The Future of Financial Services, which identifies and examines four key trend areas that will  transform the financial services industry...

The Top 10 Trends in the Digital Banking Industry

December 18, 2013
/   Spotlight

2014 is rapidly approaching and as the year wraps, the Digital Insight team has pulled together the top 10 trends in the digital banking industry based on data and trends from studying financial institutions....

Small Business: Perception vs. Reality

November 21, 2012
/   Insights

In the most recent election cycle, like most others before it, the one sector of the economy that got the most attention was small business.  This is the future, we were told by every...

Industry Perception, Optical Delusion

January 14, 2013
/   Insights

In Washington, they talk a lot about ‘optics.’ This has nothing to do with regulatory scrutiny, or government mandates on eyeglasses. It has to do with perception—how something looks, the way a particular story...

Social Banking: Blessing or Curse?

August 1, 2012
/   Insights

While the topic of Facebook and banking has generated plenty of heat (though not necessarily a lot of light), the debate seems mostly focused on two broad issues: The much-maligned IPO, and the notion...

Financial Literacy Month: How are you celebrating?

March 22, 2013
/   Insights

With April approaching, it’s almost time to kick off Financial Literacy Month! Strongly supported by the United States Congress and the Financial Literacy and Education Commission, Financial Literacy Month aims to promote the importance...

Check usage in the United States has been on the decline for many years, but reliable predictions about the future of the check can be hard to come by. Exaggerations and generalities tend to creep into arguments both for and against their continued existence. Some predict that checks will disappear entirely within a few years; others expect them to continue more or less indefinitely. Who is right?

This paper is intended to provide some realistic projections about how long checks will continue to exist in the United States, and in what numbers. While these should be considered theories rather than scientific results, we have attempted to predict realistic scenarios in which check usage may either decline precipitously or stabilize at reduced levels from today’s.The report is roughly organized into three sections:

Common Myths About Check Usage
Clearing up a few widely held misconceptions about how check usage is measured, who is still using them the most, and which other payment methods are superseding them.

Why Are Checks Declining, and What Is Replacing Them?
An examination of several disruptive technologies that have displaced more than half of check usage already; why some people keep writing checks despite the availability of other options; and the final obstacles in the way of converting the last several billion checks from paper to electronic payments. We also explore an alternate future in which cryptocurrencies such as Bitcoin experience runaway success and further impact the payments landscape.

Conclusions and Projections
We summarize the major factors that will affect how rapidly, or slowly, check usage will continue to decrease, followed by three scenarios in which it declines from the current 18 billion to between 8 billion and 3 billion payments per year by the end of the next decade. Finally, we address the effect of the biggest demographic factor commonly associated with checks’ continued use – the user’s age – and why it may or may not be as big a contributing factor as you think.

To view the entire white paper, created by Digital Check Corp., click here.


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James W. Gabberty

Gabberty is a professor of information systems at Pace University in New York City. An alumnus of the Massachusetts Institute of Technology and New York University Polytechnic Institute, he has served as an expert witness in telecommunication and information security at the federal and state levels and holds numerous certifications from SANS & ISACA.

Brad Strothkamp

Marisa Mann

Marisa Mann brings over 15 years of experience in consulting and financial services industries to the Solstice team, working on large scale enterprise initiatives across many technologies, including specializing in the digital space – Internet and mobile. Mann is passionate about mobile and the endless possibilities for the enterprise, delivering business value through strong brand recognition and driving to excellence in the consumer experience. Prior to Solstice, Mann worked at JP Morgan Chase, Diamond Management and Technology Consultants, Washington Mutual, Inc, and Accenture.

Zachary Ehrlich

25-year-old writer, and as a native San Franciscan, I am unreasonably loyal to Bank of America, if only for their superhero-like origin story, involving the 1906 earthquake and Italian fruit vendors.