PYMNTS

NOVEMBER 27, 2020

Consumers and businesses alike have long been familiar with digital payments, but both now expect smoother payment experiences as the COVID-19 pandemic’s financial impacts continue. Friction points that once proved to be minor nuisances have become legitimate financial challenges, especially for consumers and smaller businesses.

Meeting 265

Meeting Payments Groups Tools 265

PYMNTS

DECEMBER 22, 2020

The pandemic has forced businesses to pivot quickly to continue their operations — both domestically and internationally — with relative ease as the health crisis affects everything from supply chains to payment schedules. trillion in value by the end of the year, compared to the $4.1 Around The Global B2B Payments World.

Innovation 237

Innovation Cards Payments Study 237

PYMNTS

JUNE 29, 2020

Bank branches are either closing outright or slashing their business hours to help customers maintain social distancing guidelines — but fortunately, the growing familiarity of digital banking has allowed customers to meet their financial needs online and has kept financial institutions (FIs) in business.

Digital Banking 317

Digital Banking Mobile Study Guidelines 317

PYMNTS

NOVEMBER 27, 2020

Approximately $25 trillion in payments flows between American businesses annually, and B2B payments total $120 trillion globally. One-third of B2B payments are processed electronically, but accounting professionals are still pushing to expand that share. The challenges of B2B transactions.

Meeting 238

Meeting Fraud Survey Security 238

Abrigo

JULY 1, 2021

Some transactions on customer accounts, such as those from OnlyFans and Pornhub, are blatantly exploitative. As a community, we need to place more pressure on all currency providers (fiat and crypto) to embrace digital ethics and refuse to engage and/or do business with organizations that fail to protect innocent and vulnerable people.

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Training Conference Community Video 370

PYMNTS

JUNE 22, 2020

bank accounts since the coronavirus first hit the U.S. Also in May, Bank of America’s chairman and CEO Brian Moynihan said the average consumer checking balance with under $5,000 in their accounts monthly increased by 30 to 40 percent compared to a year ago. A record $2 trillion has been deposited into U.S.

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US New York America Analysis 167

PYMNTS

MARCH 27, 2020

Respondents say they go off-course too easily inside many banking apps – and during important tasks like opening accounts. percent of banking app users who utilize them to check their account balances are satisfied with doing so, while 85.1 percent of those who deposit checks and 81.5 Our survey shows that 92.4

Mobile 190

Mobile Millennials Digital Banking Security 190

Perficient

JULY 27, 2020

If you’re noticing new customers requesting accounts within your business, or new users on your site, you should look at your commerce site analytics and see what these customer demographics look like. Is Your Business Set Up for This? People / Process / Technology. Are you currently able to accept credit cards?

Analytics 332

Analytics Technology Strategy Taxes 332

PYMNTS

DECEMBER 7, 2020

Business email compromise (BEC) scams continue to ravage company coffers. According to CNBC reports , the email phishing scheme involves attackers impersonating one business executive at a China-based business that offers temperature-controlled supply chain solutions. PYMNTS breaks down the numbers behind the latest cases below.

Fraud 228

Fraud Ohio Indiana Payments 228

Abrigo

AUGUST 19, 2020

Adjusting your velocity scenarios can help detect money mule scams and check fraud. . Spike and anomaly scenarios generally detect increases (or decreases) in aggregate transactions compared to a specified historical period. Update your spike or anomaly scenarios to detect increases (or decreases) in aggregate transactions. Learn more.

Fraud 195

Fraud System Trends Software 195

PYMNTS

AUGUST 10, 2020

A multitude of payments flow between businesses, government agencies, individuals and others in the U.S. Credit and debit card payments accounted for 75.3 This is evident in the ways bank customers prefer to receive their salaries, payments from businesses or funds from other transactions. trillion in 2018, marking a $10.25

Payments 222

Payments Innovation Study System 222

PYMNTS

JUNE 30, 2017

QuickBooks Online touts itself as a leader in SME accounting. million user mark — not just a sign of corporate growth, the company said, but also an indication of how small businesses are adopting the cloud and other digital solutions. Kriplani said that checks are even more popular among small companies. “If

How To 152

How To Online Software Payments 152

PYMNTS

AUGUST 3, 2020

That’s meant busy times for Melissa, which has spent over three decades in the digital-identity verification and authentication business. Identity verification involves gathering all relevant consumer information and running cross-checks against the data provided. Using AI And Other Tools To Fight Fraud .

Fraud 225

Fraud Online Data Tools 225

PYMNTS

DECEMBER 3, 2020

She added that as consumers lean on merchants, those merchants have started to lean on their banks to offer solutions that are faster and more convenient than simply moving money by check or ACH. Additionally, the initiative can serve the gig economy through offering real-time payments to any account. The Value Proposition.

Payments 223

Payments Data System Cards 223

PYMNTS

SEPTEMBER 12, 2019

The paper check continues to be a prominent — and, in many cases, dominant — payment method in B2B transactions. PYMNTS research released last October in the “ Bringing Corporate Payments Out of the Dark Ages ” webinar revealed 64 percent of B2B payments are made with checks, despite consumer payments’ acceleration toward electronic tools.

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Survey Tools blockchain Payments 128

PYMNTS

DECEMBER 18, 2020

Something’s going to happen with paper checks, paper invoicing — the whole paper thing on a grand scale — and businesses need to be ready for that eventuality. Accounting functions are having a funky year, as COVID caught many corporates either right before or in the middle of big digital transformation projects. days to 42.6

Study 190

Study Innovation Payments Technology 190

PYMNTS

SEPTEMBER 8, 2020

JPMorgan ’s Head of Global Liquidity Product Solutions Specialists, Lori Schwartz , told PYMNTS in a recent Masterclass that the very nature of liquidity management is changing — and leading treasury management professionals to pivot to digitization and move from physical to virtual accounts. The Advantages Of Centralized Access .

Management 268

Management Lending System Operations 268

PYMNTS

FEBRUARY 4, 2020

Once reserved for only the largest and most sophisticated firms, automated enterprise resource planning (ERP) and accounting platforms are now accessible for even the smallest of businesses, and data from those systems is the new currency of operational efficiency. According to Dean M. A Reconciliation Headache.

Cards 153

Cards Data System Payments 153

PYMNTS

NOVEMBER 5, 2018

Governments, financial institutions, businesses and consumers are all reaping the benefits the ACH Network provides,” Larimer said in a statement. As NACHA expands Same Day ACH functionality, it’s unclear how small and medium-sized businesses (SMBs) will embrace the faster payment capability. NACHA said 43.2

Payments 171

Payments Survey Millennials Cards 171

South State Correspondent

JANUARY 11, 2023

One of the biggest mistakes bank make when pricing deposits is advertising an above-market rate, thereby shortening deposit duration and increasing negative convexity for that one account and the whole product offering. Consider a money market account at a bank. That 1.75% money market account likely has a duration of 0.18.

Training 195

Training Marketing Capital Course 195

Abrigo

JUNE 13, 2022

Older customers often enjoy coming to the branch to do business, thus building relationships with bank staff. Nearly all the banks surveyed (93%) report that they file a suspicious activity report (SAR), flag accounts, close accounts, or report to Adult Protective Services (APS) when banks suspect elder financial exploitation.

Fraud 195

Fraud Training United States Survey 195

PYMNTS

JUNE 5, 2020

Large international organizations, in addition to small to mid-sized businesses (SMBs) are using CitiDirect BE to take in funds, pay suppliers, ensure sufficient cash flow and pay taxes and bills, American Banker reported. Digital onboarding, however, is much quicker compared to manual processes once it is put into place.

Report 132

Report Online National Taxes 132

Abrigo

AUGUST 19, 2020

Spike and anomaly scenarios generally detect increases (or decreases) in aggregate transactions compared to a specified historical period. Velocity Scenarios Money Mule Scams: Velocity scenarios track rapid movement of funds in and out of an account. Below are five ways typical AML software catches fraud: . Learn more.

Fraud 195

Fraud System Trends Software 195

PYMNTS

NOVEMBER 4, 2019

Invoice and purchase order manipulation, company credit card abuse and fraudulent use of company checks all surface as cautionary tales for corporates’ internal financial processes. 70 percent of data breaches in Canada involve a small business , the latest research from the Electronic Transactions Association (ETA) recently revealed.

Fraud 101

Fraud Pennsylvania Data Cards 101

Abrigo

MARCH 24, 2023

How many accounts and to which countries are they sent? Does the credit union file many suspicious activity reports (SARs) annually compared to the other credit unions in the same geographical area? If so, how is this monitored? Do you offer services to those without a Tax ID Number (TIN)? If so, how many customers or members?

Fraud 195

Fraud Compliance Examples Analysis 195

PYMNTS

AUGUST 5, 2016

Accounts payable and corporate payments solutions providers are adamant about getting rid of the paper check, known to be a cumbersome, slow and expensive way for businesses to pay their suppliers and employees. Self-printing checks on blank stock saves money, the company said, compared to using preprinted check stock.

Software 100

Software Analysis Payments Strategy 100

PYMNTS

JULY 25, 2018

If the Business Email Compromise (BEC) scam isn’t on the radar of every corporate finance executive, it certainly should be. The 2018 report, sponsored by JPMorgan , finds fraudsters are spinning their BEC webs even broader, targeting new channels of business transactions.

Fraud 138

Fraud Survey Payments Cards 138

PYMNTS

AUGUST 10, 2020

When B2B order-to-cash technology provider Billtrust announced the launch of its Business Payments Network (BPN) in late-2018, it was a solution designed to tackle one of the largest hurdles in B2B payments that remains today: managing all of the data and workflows required to achieve transaction success. On Monday (Aug. On Monday (Aug.

Payments 123

Payments Cards Data Regional 123

PYMNTS

FEBRUARY 14, 2020

Customer service is the lifeblood of financial services, just as much as credit cards, debit cards and checking accounts. But as banking becomes ever-more mobile, and account openings and activities are done through digital channels, the very definition of support – and how it should be provided – is changing. The SMB Focus.

Branding 228

Branding Mobile Tools Fintech 228

PYMNTS

SEPTEMBER 14, 2018

NACHA pointed to AeroPay Express’s existing services for financial institutions and businesses that aim to increase electronic payments adoption. B2B payments today cause many significant challenges for AP/AR [accounts payable/accounts receivable] departments.

Payments 124

Payments Risk Management Tools Groups 124

PYMNTS

DECEMBER 17, 2018

New analysis from corporate payments firm Bill.com suggests ACH payments are dominating the accounts payable department. “Payments are rapidly evolving for accounting firms, as digital payments are now more often used than paper checks,” said Bill.com Senior Vice President of Engineering Vinay Pai in a statement.

Payments 159

Payments cryptocurrency Survey Analysis 159

PYMNTS

MAY 6, 2019

NorthOne , a FinTech firm that focuses on small business owners, is one of the companies that call the city home. NorthOne CEO Eytan Bensoussan told PYMNTS in an interview, “Our mission is to eliminate financial admin from the lives of small business owners. that let them deposit cash and checks.

Innovation 192

Innovation Fintech San Francisco New York 192

PYMNTS

DECEMBER 12, 2017

Paper checks for domestic suppliers, wire transfers for international ones. That’s the status quo in corporate payments, and it’s not only creating friction for the business payer; it’s creating headaches for small business (SMB) accounting too.

Fintech 110

Fintech Payments Analysis Survey 110

PYMNTS

NOVEMBER 11, 2020

The Playbook also calls out “three-way invoice matching — in which staff must compare invoices to purchase orders and goods received notes,” and the frustrations that brings, but automation can reduce these stresses by matching these invoices automatically. Capital Management Leans Into Digital. A recent survey found that 74.2

Capital 219

Capital Resources Survey Management 219

Perficient

DECEMBER 16, 2020

With the altered nature of business flows arising from the COVID-19 crisis, many enterprises face new challenges to their continued existence, much less success. Being aware of Working Capital balances and taking proactive action has never been more important to businesses of all sizes. How long will our Cash last?

Analytics 322

Analytics Capital Trends Analysis 322

Abrigo

DECEMBER 7, 2021

How many accounts and to which countries are they sent? Does the institution file many suspicious activity reports (SARs) annually compared to the other institutions in the same geographical area? If so, how is this monitored? Do you offer services to those without a Tax ID Number (TIN)? If so, how many customers or members?

How To 195

How To Fraud Analysis Compliance 195

Jeff For Banks

APRIL 30, 2022

True, it is more likely that a traditional business borrower has a full relationship with their bank than a typical commercial real estate (CRE) borrower. I thought, business loan plus a business checking account. The much sought after "operating account." What does a "full relationship" mean?

Lending 78

Lending Massachusetts Taxes Community Bank 78