CFO Share

MARCH 2, 2023

The three most common types of AP fraud are: Fake vendors and invoices fraud Check fraud Expense reimbursement fraud Fake vendor invoice fraud Fake vendor fraud can be perpetrated by your internal accountant or an external con artist. Fake vendor invoice fraud varies in sophistication.

Invoicing 52

Invoicing Accounts Payable Auditing Education 52

PYMNTS

APRIL 16, 2020

To assist small- and medium-sized businesses (SMBs) in keeping their cash flow safe from unpaid or late payments on invoices, Tide has rolled out a new invoice protection offering with the help of Hokodo , according to a press release. Hokodo handles the debt collection on invoices that are late.

Invoicing 70

Invoicing Credit Risk Planning Banking 70

PYMNTS

JANUARY 16, 2020

B2B invoicing and payments firm Crowdz has announced a new pilot aimed at connecting businesses to crowdfunding services to finance their unpaid invoices. 16), Crowdz announced it is rolling out what it claims to be the world’s first invoice financing marketplace, InvoiceXchange, in pilot phase.

Invoicing 67

Invoicing B2B Startups Finance 67

PYMNTS

NOVEMBER 3, 2020

The company has connected its SecurePay payment gateway solution within the accounting platform, allowing for SMBs to generate invoices and receive payment without having to leave QuickBooks. According to Yakov, it can certainly support digitization of B2B payments, with SecurePay able to support both ACH and card transactions. "I

Invoicing 60

Invoicing B2B Accounts Payable eCommerce 60

PYMNTS

JUNE 1, 2020

invoice insurance provider Nimbla is teaming up with the credit risk assessment firm Wiserfunding , according to a report in Crowdfund Insider on Friday (May 29). businesses with dynamic invoice insurance,” according to Crunchbase. . Starling Bank said in October that it was planning a collaboration with Nimbla.

Invoicing 67

Invoicing Risk Management Credit Risk Economics 67

PYMNTS

OCTOBER 19, 2018

Even the mightiest of tech firms are not immune to invoice fraud. The site noted that, among the alleged fraudulent actions, Tran stands accused of sending two fraudulent invoices to Microsoft, and those invoices were sent to the company from other vendors. Blockchain For Invoices. million from the company.

Invoicing 61

Invoicing Finance Communication Accounting 61

PYMNTS

JULY 1, 2020

Studies have found that B2B invoices take an average of 37.4 Digitizing these payments has been a top priority for banks, payments processors and businesses for several years, but this digitization has its own fair share of obstacles like interfacing disparate banking software and ensuring fraudsters cannot intercept payments mid-transfer.

Banking 114

Banking B2B Invoicing Budgeting 114

PYMNTS

JANUARY 10, 2019

challenger bank Countingup is adding invoicing services to its suite of offerings for small and medium-sized businesses (SMBs), the company announced Wednesday (Jan. When the challenger bank launched, Fouracre also highlighted the struggles of sole traders in particular when it comes to managing the finances of their businesses.

Invoicing 66

Invoicing Finance Banking Accounting 66

PYMNTS

FEBRUARY 3, 2020

Daya Shankar Kushwaha was arrested by tax officers in New Delhi for allegedly using fake invoices worth over Rs 1,200 crore to get tax benefits, according to reports on Monday (Feb. Fake invoices were issued to buyers, who avail the fraudulent input tax credit without actually receiving any goods.

Invoicing 52

Invoicing B2B Banking Securities 52

PYMNTS

DECEMBER 18, 2019

Lendo , a peer-to-peer (P2P) lending marketplace for small- and medium-sized businesses (SMBs), wants to help them pre-finance their invoices so they can potentially get paid faster, according to a report. The company is doing its business as an alternative to regular short-term finance by borrowing money against outstanding invoices.

Invoicing 52

Invoicing Startups Finance Banking 52

PYMNTS

APRIL 29, 2020

New solutions continue to roll out as a result of open banking frameworks around the world and banks’ increasing willingness to collaborate with FinTechs. This week’s look at the latest in bank-FinTech collaborations reveals two new open banking initiatives from FinTechs designed to address back-office friction for banks.

Banking 95

Banking Foreign Exchange Invoicing Finance 95

PYMNTS

JULY 20, 2017

India’s Axis Bank, which has strengthened its position in the global corporate banking and payments space, is offering a new service to SME clients. An announcement Wednesday (July 19) said Axis is rolling out Invoicemart, a digital invoice discounting platform for small businesses. Srinivasan in a statement. “I

Invoicing 52

Invoicing Finance Banking B2B 52

PYMNTS

MAY 7, 2020

Risk management and payment technology provider linked2pay has debuted a new service, CustomerConnect, that is intended to cut down on late invoice payments, according to a press release. A total of 52 percent of invoices issued in the U.S. A total of 52 percent of invoices issued in the U.S.

Invoicing 60

Invoicing Risk Management B2B Accounting 60

PYMNTS

JUNE 9, 2020

To help companies obtain inventory financing for supplier payments, supply chain provider RSA Global has unveiled a partnership with small- to medium-sized business (SMB) financial firm Invoice Bazaar , according to a press release. Separately, payment processing firm PayTabs recently unveiled a partnership with Invoice Bazaar.

Invoicing 52

Invoicing Finance Banking Marketing 52

PYMNTS

JANUARY 22, 2021

Today in B2B payments, TripActions announces new funding that values the T&E startup at $5 billion, while OneSource Virtual launches invoice payment capabilities. Plus, iBanFirst launches B2B payment traceability tool, Georges rebrands with new funding, and HashCash partners with a bank on blockchain payments. 21) announcement.

Invoicing 66

Invoicing B2B Reconciliations Valuation 66

PYMNTS

OCTOBER 15, 2020

British banking platform Tide announced that it has teamed with GoCardless to roll out a service that will let members accept invoice payments through Direct Debit. The collaboration will assist small firms in surmounting the ongoing problem of late payments, according to a Thursday (Oct. 15) announcement.

Invoicing 56

Invoicing Economics Accounting Banking 56

PYMNTS

MARCH 24, 2020

FinTech Amaiz , promoting its bookkeeping and banking services app, found in a survey that roughly one-third of micro businesses have trouble with payments, according to a press release. billion pounds ($1 million to $2 million) annually by forgetting to invoice. “We The survey was conducted by 3Gem in February. Amaiz found that 34.6

Invoicing 69

Invoicing Accounting Numbers Banking 69

PYMNTS

SEPTEMBER 5, 2019

French startup Upflow , a company that wants to streamline the invoicing process for companies, help them stay organized and ensure they get paid on time, has raised $2.7 Many companies have relied on Excel spreadsheets to keep track of invoicing information, and Upflow has created a proprietary system to improve on that.

Invoicing 43

Invoicing Startups Accounting Banking 43

PYMNTS

JUNE 20, 2019

Open Banking platform Trade Ledger is introducing an invoice financing solution for banks and alternative lenders, the company announced this week. Based in the cloud, the invoice financing tool will be available to financial institutions (FIs) in Australia, Europe and Asia.

Invoicing 49

Invoicing Finance B2B Compliance 49

PYMNTS

JULY 3, 2020

Open banking is shaking up the financial industry and is poised to revolutionize the way banks share data with each other as well as with third-party app developers, FinTechs and payment providers. There are a multitude of benefits that open banking brings to B2B payments. Open Banking Initiatives Around The World.

B2B 111

B2B Banking Invoicing Reconciliations 111

CFO News

MARCH 7, 2024

The Reserve Bank of India and the Bank of Indonesia signed a MoU to promote the use of local currencies for cross-border transactions, enabling exporters and importers to invoice and pay in their respective domestic currencies, optimizing costs and settlement time for transactions.

Currencies 52

Currencies Banking Invoicing Economics 52

PYMNTS

FEBRUARY 28, 2020

Purchase, invoice and transaction data are invaluable to the journey of digitization and automation, but organizations are increasingly recognizing that the value can only be realized if that data can integrate seamlessly across platforms. Going Further With Open Banking. Cichy said he sees the opposite happening today, though.

Accounts Payable 83

Accounts Payable Banking Invoicing B2B 83

PYMNTS

SEPTEMBER 17, 2019

Australian FinTech 3Pay has launched operations, connecting businesses to an invoice financing solution designed to support cash flow and prevent small businesses from being placed on hold by their B2B suppliers. ” 3Pay also enables vendors to include this invoice financing option at the bottom of their invoices, the company noted. .

Invoicing 49

Invoicing Finance B2B Sales 49

PYMNTS

FEBRUARY 8, 2019

Financial data technology firm Validis is rolling out a new solution designed to automate month-end reconciliation processes for small business lenders and invoice financing firms. 7), Validis said it has rolled out DataShare Reconciliation for small business lenders offering Confidential Invoice Discounting (CID).

Invoicing 46

Invoicing Reconciliations Concentration Financial Data 46

PYMNTS

JUNE 6, 2019

Business consultancy CGI has announced a collaboration with invoice payments FinTech Ordo to develop a service that combats fraud for both payers and payees. In a press release on Wednesday (June 5), the companies announced their tie-up, which aims to boost efficiency of invoice payments on both sides.

Invoicing 48

Invoicing Securities Banking Marketing 48

PYMNTS

OCTOBER 2, 2019

Tradeshift made further inroads into blockchain technology via a new collaboration with Monerium, which saw a B2B invoice settled using the Tradeshift platform and eMoney on the Etherium blockchain, according to a press release. 1) that the transaction was the first time an invoice had been settled using licensed digital cash.

Invoicing 46

Invoicing B2B Currencies eCommerce 46

PYMNTS

MARCH 22, 2019

One way to secure funding is to use invoice financing. USD equivalent to help fund its efforts to help companies secure loans against invoices (through linkups with investors) using blockchain and artificial intelligence. To that end, Netherlands startup Finturi earlier this month said it had secured $2.2

Invoicing 65

Invoicing Finance Manufacturing Securities 65

PYMNTS

SEPTEMBER 15, 2020

Emerging markets have their own challenges when it comes to banking, where big, traditional financial institutions (FIs) are anything but efficient. It’s been 20 months, and we tried to get a debit card from some of the largest banks. The world doesn’t need another bank,” Poovala told Webster. Widening Debit’s Acceptance.

Banking 103

Banking Invoicing Accounting Leverage 103

PYMNTS

DECEMBER 30, 2019

In recent months, the council has expanded its membership roster to include heavyweights such as the Federal Reserve and electronic payments and banking solution provider ACI Worldwide , boosting the council’s mission of developing a national faster payment system. Faster Payments Council (FPC).

Invoicing 52

Invoicing Education Compliance Banking 52

PYMNTS

JUNE 25, 2020

the British financial technology company headquartered in London, has added American Express to its open banking platform. Before this addition, Revolut shoppers could access American Express balances and transactions only through Amex’s online banking service or app. Revolut Ltd., Now, Revolut’s retail customers in the U.K.

Banking 123

Banking Invoicing Budgeting Accounting 123

PYMNTS

MARCH 25, 2019

A new report has revealed that invoice fraud cost U.K. Invoice fraud happens when criminals pose as a regular supplier and make a request for their bank account information to be changed, usually via email. Invoice fraud could happen to businesses of all sizes. Even tech giants can be hit with invoice fraud.

Invoicing 59

Invoicing Economics Finance Accounting 59

PYMNTS

NOVEMBER 10, 2020

Bank has rolled out its new AP Optimizer, which is a digital tool that works to simplify invoice processing and payments for businesses, according to a press release. Bank, according to the release. Digital invoicing has become popular throughout the pandemic, with WEX Inc. With AP Optimizer, the release stated, U.S.

Accounts Payable 80

Accounts Payable Banking Invoicing Treasury 80

PYMNTS

MAY 20, 2019

TransferMate Global Payments, the cross-border B2B payments provider, announced Monday (May 20) it inked a deal with Wells Fargo to deliver its Global Invoice Connect platform for U.S. In a press release , TransferMate said its Global Invoice Connect Platform enables U.S. based international businesses.

Invoicing 53

Invoicing Foreign Exchange Reconciliations Currencies 53

PYMNTS

NOVEMBER 12, 2020

Contextual banking will change the way traditional financial institutions (FIs) interact with their business clients. Shields offered an example of intentional information: invoice data. Today, a bank simply receives a payment instruction from its customer. Building The Infrastructure.

Banking 88

Banking Invoicing Reconciliations Treasury 88

PYMNTS

DECEMBER 7, 2020

You’d be forgiven for thinking that, in banking, the deal is dead. NCR Digital Banking Senior Vice President and General Manager Doug Brown told Karen Webster there will be an acceleration of deal making on the other side of the pandemic, particularly as financial institutions (FIs) recalibrate and expand their digital efforts.

Mergers and Acquisitions (M&A) 113

Mergers and Acquisitions (M&A) Banking Invoicing Leverage 113

CFO Talks

OCTOBER 3, 2024

Cash Handling Issues : Missing deposits, discrepancies between sales records and bank deposits, or unauthorised cash disbursements are red flags. Key Signs to Look For: Unexplained Inventory Losses : Regular discrepancies between physical counts and inventory records, or frequent stock write-offs without clear reasons, could indicate fraud.

Invoicing 98

Invoicing Auditing Benchmarking Reconciliations 98

PYMNTS

OCTOBER 23, 2020

Morgan Chase is banking on QuickAccept to edge out FinTech rivals Square and PayPal. We have deep dives on Apple Pay, cross-border invoices and J.P. JPMorgan Chase is banking on QuickAccept to edge out FinTech competitors PayPal and Square. Report: Overcoming Cross-Border Invoice Complexities. Morgan Chase’s QuickAccept.

Invoicing 59

Invoicing Healthcare Forecasting Currencies 59