PYMNTS

APRIL 14, 2017

The Association for Financial Professionals (AFP) came out with some scary statistics this month: B2B payments fraud is not only on the rise, but at its highest levels ever since the AFP began recording this information. To his dismay (and to the dismay of businesses across the U.S.), One of the largest culprits: paper checks.

AFP 40

AFP B2B Business Email Compromise Email Compromise 40

PYMNTS

APRIL 10, 2019

While corporates are adopting stronger internal controls to combat the threat of payments fraud, new data from the Association for Financial Professionals (AFP) reveals the number of incidents has continued to climb to new heights. ”

AFP 69

AFP Scams Email Compromise ACH 69

PYMNTS

JANUARY 5, 2017

It seems every year for the past five years or so, B2B payments analysts have pondered the future of the paper check — and tried to predict its demise. Simply put: Crooks love checks,” Mike Vigue, VP of product strategy, cyberfraud and risk management at B2B payments company Bottomline Technologies, told PYMNTS.

Checks 40

Checks B2B AFP Same Day ACH 40

PYMNTS

APRIL 13, 2020

B2B payments are far from immune to fraud, and in this week’s B2B Data Digest, the business email compromise (BEC) scam reigns. ” Below, PYMNTS looks at the data behind the latest B2B payments frauds, including BEC scams and beyond.

Business Email Compromise 63

Business Email Compromise Email Compromise Scams Law Enforcement 63

PYMNTS

JULY 25, 2018

The problem is getting worse, according to the Association for Financial Professionals’ (AFP) latest Payments Fraud and Control Survey Report. According to the AFP, an attacker will target the payment rail that is most commonly used by the victim to pay suppliers, thus, limiting suspicions.

Scams 55

Scams Business Email Compromise AFP Wire Transfer 55

PYMNTS

JULY 27, 2020

Businesses have responded to the pandemic by tapping into their cash reserves, as around 32 percent of businesses plan to diminish their cash holdings in the next quarter, the Association for Financial Professionals (AFP) announced in a press release. In this case, they seem to be doing so to remain viable.” ”

AFP 56

AFP Economy Treasury Finance 56

PYMNTS

NOVEMBER 16, 2017

A new report from the Association for Financial Professionals (AFP) found that only about a tenth of surveyed corporate treasurers are prepared for emerging technologies like blockchain and machine learning to disrupt the enterprise. That means RPA can handle simple, repetitive tasks as well as more complex tasks, the AFP explained.

AFP 51

AFP Treasury Blockchain Automation 51

The Paypers

NOVEMBER 22, 2018

(The Paypers) Business-to-business payment fraud has been increasing, with accounts payable fraud on the rise, according to Association for Financial Professionals (AFP) reports.

AFP 39

AFP Accounts B2B Payments 39

PYMNTS

JANUARY 27, 2020

corporates ramped up their cash accumulation during the fourth quarter of 2019, a sign of a cautious approach to the economy, new research from the Association for Financial Professionals (AFP) said on Monday (Jan. 27), per a report from Yahoo! The Index jumped 22 points to +31 in Q4 compared to Q3 and increased 13 points year over year.

AFP 52

AFP Disputes Treasury Finance 52

PYMNTS

APRIL 7, 2020

The 2020 Association for Financial Professionals (AFP) Payments Fraud and Control Survey underwritten by JPMorgan found that business email compromise (BEC) was the most noted origin of tried or actual fraud incidents in 2019, according to an announcement.

Business Email Compromise 61

Business Email Compromise Email Compromise AFP Compromise 61

PYMNTS

SEPTEMBER 17, 2019

The AFP’s report found new lows in corporates’ use of checks for B2B payments, with more than one-third saying they aim to remain current with new payments technologies. FinTechs Move Money To Vendors Faster.

B2B 43

B2B RTP Bankers' Bank Funding Agent 43

PYMNTS

NOVEMBER 1, 2018

In a statement, Yooz North America COO and Chief Innovation Officer Laurent Charpentier said businesses’ continued use of paper checks in B2B payments led the company to seek out a partner that could address friction associated with the payment rail, including high costs and the risk of fraud. ” Roughly 50 percent of U.S.

Checks 53

Checks Accounts AFP B2B 53

PYMNTS

JUNE 15, 2018

With the B2B eCommerce market towering over B2C’s in terms of transaction value — Forrester Research estimates the U.S. But the reconciliation, security, payment terms and buyer-supplier relationship do not mean one size fits all for B2B transactions initiated on an eCommerce platform. “But these are complex to reconcile.

B2C 40

B2C B2B Reconciliation Payment APIs and Integration 40

PYMNTS

MARCH 13, 2017

The paper check has a nasty reputation in B2B payments as a cumbersome, manual and risky payment rail. It’s a major issue in B2B payments today. According to the AFP, 71 percent of businesses have experienced actual or attempted check fraud. This is where API technology comes in.

RDC 77

RDC Checks API Remote Deposit Capture 77

PYMNTS

JUNE 20, 2016

The Federal Reserve is pushing for adoption of the ISO 20022 global payments messaging standard, a move industry analysts say could streamline B2B payments, especially cross-border. Banks could do all sorts of transactions for you, but they charge you for that and rightly so.”

ISO 20022 40

ISO 20022 ISOs Fed AFP 40

PYMNTS

APRIL 14, 2017

In the Association for Financial Professionals ‘ 2017 Payments Fraud Survey, the organization saw a significant rise in the amount of B2B payment fraud occurrences. 51 percent | Decline in the use of physical checks in B2B transactions. Here are the numbers: 75 percent | Percentage of companies experiencing wire fraud in 2016.

B2B 40

B2B Business Email Compromise Email Compromise Scams 40

PYMNTS

OCTOBER 31, 2017

Corporate treasurers are building up cash reserves as concerns about the economy grow, according to a new survey conducted by the Association for Financial Professionals (AFP). The AFP’s latest Corporate Cash Indicators index , released Monday (Oct. In response, treasurers are stockpiling company cash.

AFP 40

AFP Treasury Economy Continuity 40

PYMNTS

MARCH 2, 2016

Reports by TechCrunch cite a cost of between $7 and $16 for businesses to send a check, according to research in the AFP Payment Cost Benchmarking Report by Aberdeen Group and Bank of America. Recipients can then deposit that check into their bank account online, or they can print it out.

Checks 41

Checks AFP Venmo B2B 41

PYMNTS

OCTOBER 11, 2017

business to business (B2B) payments have been slow to catch on to the digital payment method wave in America. Citing the Association for Financial Professionals (AFP), Reuters reported more than 50 percent of B2B payments made by companies were completed via paper check last year.

AFP 46

AFP B2B Digital Payments International Payments 46

PYMNTS

JUNE 8, 2018

The Amazon -effect is back at it again in the B2B world. With eCommerce now a mainstay for consumers, B2B eCommerce is quickly coming into the fold, too. B2B eCommerce, on the other hand, is already estimated to enable $7.7 Separate data from Forrester predicts B2B eCommerce sales in the U.S. alone will reach $1.2

Finance 55

Finance B2C B2B PayPal 55

PYMNTS

NOVEMBER 7, 2016

A +7 point increase in the AFP’s Corporate Cash Indicators report means U.S. Still, AFP President and CEO Jim Kaitz said in a statement, the spike in the index implies that corporates are “taking a wait-and-see approach when it comes to cash deployment, likely because of concerns over political uncertainty at home and abroad.”

Small Business 74

Small Business AFP Finance Cash Management 74

PYMNTS

FEBRUARY 9, 2018

According to recent data from the Association for Financial Professionals (AFP), corporates still have a long way to go: Just 1 percent of corporate treasurers surveyed for the AFP MindShift survey , released last November, said they already have a blockchain tool implemented in their systems. Quaranta seemed to agree.

Blockchain 51

Blockchain AFP Distributed Ledger Technology (DLT) Best Practices 51

PYMNTS

MARCH 24, 2017

Their integration comes at a time when the world of FinTech is pleading for B2B payments to ditch paper (that includes checks) and get on board with, at the very least, cards and ACH. He told PYMNTS that the hard truth in B2B payments today is this: “The death of the paper check has been greatly exaggerated.”.

Checks 40

Checks FinTech AFP B2B 40

PYMNTS

OCTOBER 30, 2018

corporates accelerated their cash collection in the third quarter compared to the previous quarter, the AFP said in an announcement on Monday (Oct. “Interest rates are rising, and the Federal Reserve has made it clear they will continue to rise for some time,” said AFP President and CEO Jim Kaitz in a statement.

Continuity 49

Continuity AFP Federal Reserve Treasury 49

PYMNTS

MAY 23, 2017

New research from the Association for Financial Professionals (AFP) released Monday (May 22) found 80 percent of corporate treasurers agree the role has become more strategic in the last three years. The same amount of survey respondents also said the role of the treasury department will continue to devolve and become even more strategic.

Treasury 40

Treasury AFP Liquidity Management On-Demand 40

PYMNTS

JANUARY 1, 2021

“The IRS is ready to deal with direct deposit if you have a regular bank account, and they are ready to deal with paper checks, [but] they are not used to dealing with [more] payment methods on a widespread scale,” said Linda Jun , senior policy counsel for the AFP. “I CFOs Guide To Digitizing B2B Payments.

Economy 103

Economy Online and Mobile Banking Credit Union Money Laundering 103

PYMNTS

JUNE 19, 2018

For all of the discussion of B2B payments’ emulation of the B2C market, however, supplier payments rarely occur via card. Data from NACHA and the Credit Research Foundation (CRF) found that cards account for just 11 percent of B2B transactions, while accounts receivable professionals expect that figure to grow just 1.5

Commercial Card 40

Commercial Card Data Breach Credit Cards B2B 40

PYMNTS

APRIL 26, 2016

Nearly half of the companies surveyed by the Association for Financial Professionals (AFP) and Bloomberg aren’t using a treasury management system. Despite the longevity,” AFP said in its announcement, “treasury professionals make efforts to ensure that their organizations use the most recent version of their TMS.”

Treasury Management 40

Treasury Management AFP Treasury Liquidity Risk 40

PYMNTS

DECEMBER 12, 2017

The Association for Financial Professionals (AFP) released its 2016 Electronic Payments Survey earlier this year and found that use of paper checks in B2B payments actually rose 1 percent compared to 2013 levels. About 44 percent of payments received are in the form of a paper check too, the report noted.

Accounts 44

Accounts Wire Transfer Wire Wires 44

PYMNTS

OCTOBER 5, 2020

In this week’s B2B Data Digest, PYMNTS examines some of these numbers, finding that businesses are falling victim to payments fraud, but that tech firms are taking actions to mitigate cyber risks. .

Ransomware 54

Ransomware AFP Breach Payments 54

PYMNTS

NOVEMBER 8, 2018

Separate analysis from the Association for Financial Professionals (AFP), also released last year, further emphasized the shifting role of treasury, with 80 percent of treasurers surveyed agreeing that the position is playing a more strategic role than it did three years ago — and will continue to do so moving forward.

AFP 46

AFP Treasury Cash Management Treasury Management 46

PYMNTS

MARCH 6, 2018

Separate research released last year by the Association for Financial Professionals (AFP) highlighted corporate treasurers’ and CFOs’ shifting roles within the enterprise. The AFP, along with Marsh & McLennan Cos.,

AFP 43

AFP Cash Management Treasury Liquidity Management 43

PYMNTS

MARCH 5, 2018

Business-to-business (B2B) trade, especially when deals occur across borders, expose businesses to all sorts of risks, like non-payment (on the supplier’s side), or non-deliver (on the buyer’s side). The buyer-supplier relationship goes beyond regulatory requirements like Know Your Customer. The supplier would be at risk [of non-payment].”.

Risk 42

Risk Cross-Border Non-Bank B2B 42

PYMNTS

DECEMBER 31, 2019

At the recent AFP 2019 conference, Bottomline Technologies shared its survey of FIs, with findings that integration fears are hindering adoption of real-time payments despite a raft of benefits. Close to one-quarter of AP pros surveyed also want to bring ePayables and virtual cards online for treasury operations. Digitize to Actualize.

Checks 54

Checks Automation RTP Payment APIs and Integration 54

PYMNTS

MARCH 14, 2017

The Association of Financial Professionals’ (AFP) 2017 Risk Survey found that 60 percent of businesses identify maintaining adequate liquidity as their top strategy to reduce geopolitical risks of the global market. For any company, holding onto capital is key to remaining successful on the global stage.

Risk 54

Risk Payment APIs and Integration AFP Payments 54

PYMNTS

APRIL 12, 2019

The Association for Financial Professionals ( AFP ) found that although automated clearing house transactions are generally regarded by CFO.com to be relatively “safer” than other types of transactions — say, paper checks — fraud involving ACH is on the rise.

Business Email Compromise 46

Business Email Compromise AFP ACH Email Compromise 46

PYMNTS

JULY 13, 2016

The findings were detailed in the latest 2016 AFP Liquidity Survey , underwritten by State Street Global Advisors (SSGA). “Bank relationships continue to grow in level of strategic importance for organizations,” said AFP CEO and President Jim Kaitz in a statement. The report was published on Tuesday (July 12).

AFP 40

AFP Rules Advisors Research 40