Neopay

FEBRUARY 27, 2025

A joint feedback statement from the FCA and PSR assesses the usage and impact of digital wallets: The use of digital wallets has rapidly grown in recent years with the proportion of card transactions using a digital wallet increasing significantly from 8% in 2019 to 29% in 2023.

Alternative Payment Methods 52

Alternative Payment Methods Assessments Duplicate Financial Inclusion 52

The Payments Association

MARCH 25, 2025

Key questions to consider include: Who assesses the impact and scope of the requirements? Without clear answers, duplicated work can lead to mistakes, disputes, and unnecessary delays. But theres no universal playbook for implementing payment network updates. How is this information communicated to affected teams?

Compliance 88

Compliance Payment Networks Issuers Best Practices 88

PYMNTS

SEPTEMBER 17, 2020

After all, there’s at least some duplication of process when checks are handed to tellers. However, checks are on a slow, gentle, long-term decline as digital channels gain traction and the means of building, assessing and ensuring trust through robust digital ID verification improve.

Checks 118

Checks Mobile Deposit Duplicate ATM 118

Fintech News

MAY 14, 2024

Securing Authenticity: ZOLOZ’s Solution to Deepfake Challenges in the Digital Age IdNetwork: Identifying Systemic Risks The IdNetwork layer utilises data science graphs to identify and map duplicate authentication risks, and identity fraud risks on a large scale.

Deepfake 114

Deepfake Authentication Verification AI 114

PYMNTS

APRIL 6, 2018

The record trail is far-flung and often duplicative. Through insurance mandates, providers’ directories must be updated with that demographic information, but inaccuracies and inefficiencies abound. The alliance companies, Walker explained, will publish white papers and present at conferences throughout 2018.

Blockchain 72

Blockchain Duplicate Payer Reconciliation 72

The Finance Weekly

MARCH 28, 2022

ESG reporting is valuable because it ensures that companies assess their influence on sustainability issues and allows them to be transparent about the risks and opportunities they face. These benefits include the following: Eliminates duplicate data collection, consolidation, and reporting processes.

Finance 130

Finance Audit On-Demand Governance 130

PYMNTS

FEBRUARY 20, 2020

In the software arena, duplicate subscriptions and opaque pricing models are costing businesses thousands of dollars. “Businesses are overpaying for a lot of duplicate software,” he said. Glyman pointed to one company, for example, that had seven outstanding subscriptions for the same software product.

Commercial Card 56

Commercial Card Duplicate Underwriting Transactions 56

PYMNTS

JUNE 22, 2017

We think roughly 30 percent of duplicate payments are the result of some sort of vendor master issue, either as a duplicate vendor or some other error associated with vendor master,” the executive explained.

Duplicate 48

Duplicate AI Audit Automation 48

PYMNTS

JUNE 7, 2018

But for multinational firms with troves of supplier data, managing the information and ensuring its accuracy is a growing headache – especially as more businesses find that their vendor data is filled with duplicates, errors and even business partners that are exposing firms to legal risks.

Duplicate 57

Duplicate Legal Mitigation Risk Mitigation 57

Nanonets

AUGUST 1, 2023

AI integration also significantly benefits risk assessment, allowing auditors to perform sophisticated analyses of a client's data, guiding them towards areas that demand closer scrutiny. Risk Assessment: AI assists auditors in assessing risks by analyzing historical data, industry trends, and financial ratios.

Audit 52

Audit Risk Assessment AI Assessments 52

PYMNTS

NOVEMBER 24, 2020

Meanwhile, the Supplier Management+ module in the new release "simplifies and streamlines" the supplier qualification and onboarding processes, with the universal and category assessments combined. Users will be able to assign a single assessment status for suppliers, which will let suppliers update it at any time.

B2B 52

B2B Commercial Card Due Diligence NOV 52

Nanonets

APRIL 24, 2023

This facilitates verification of customer profiles, streamlining the onboarding process, approving loans and mortgages, assessing borrower risk, etc. Bank extraction software can be used to extract this information and use it for loan approvals and risk assessments.

Assessments 52

Assessments Automation Fraud Detection Risk Assessment 52

PYMNTS

MAY 29, 2020

FIs can stay ahead of cross-channel cybercrime by connecting the dots between suspicious activities on different platforms or customer contact points, and tools that assess patterns to determine which are outliers are core elements of strong fraud-fighting approaches. Confronting Cross-Channel Fraud.

Online and Mobile Banking 53

Online and Mobile Banking Assessments Accounts Duplicate 53

FICO

MARCH 23, 2021

In our experience, we typically see that the breakdown is being driven by risk tolerance and discomfort from two basic kinds of risks: (1) authentication fraud prevention (2) credit risk assessment. This could be as simple rewarding a good customer with a Starbucks gift card after observing that they are an avid Starbucks customer.

Risk Assessment 52

Risk Assessment Duplicate Fraud Prevention Automation 52

Nanonets

MARCH 22, 2023

Issues with duplication Many account payable outsourcing companies charge on a per-invoice basis. Hence, if your business shares duplicate invoices, you are going to have to pay for that too. If outsourcing providers do not have the facility to detect duplicate invoices, then the business ends up incurring more costs than necessary.

Accounts 52

Accounts Duplicate Automation Privacy 52

Nanonets

MAY 21, 2024

Common discrepancies may include unapplied payments, duplicate entries, or incorrect customer balances. Investigate Discrepancies: Identify and resolve unapplied payments, duplicates, or errors. Businesses need to assess the likelihood of non-payment by certain customers and make provisions for potential losses.

Reconciliation 52

Reconciliation Accounts Adjustments Correspondent 52

PYMNTS

AUGUST 29, 2016

“Not preventing duplicate invoice payments.” Plus, CFOs have more important things to worry about. “With any sort of reasonably high-level executive, they’re focused on running a business,” Zitting said.

Payroll 43

Payroll Duplicate Accounts Mitigation 43

Nanonets

JUNE 19, 2023

An accounts payable audit is an in-depth assessment of a company's accounts payable records and procedures. Validity Assessing validity means verifying the legitimacy of AP transactions. This results in fewer disputes and the elimination of duplicate tasks, streamlining the accounts payable audit procedure.

Audit 52

Audit Accounts Procedures Compliance 52

Nanonets

APRIL 24, 2024

The auditor assesses risks, identifies key areas for review, and develops an audit plan tailored to the organization's specific needs. They assess the adequacy and accuracy of documentation to support the integrity of financial records.

Reconciliation 52

Reconciliation Audit Procedures Correspondent 52

PYMNTS

MAY 7, 2020

Process mining involves a deep dive into companies’ existing workflows to identify bottlenecks, assess workflow alternatives against companies’ goals, and then implement the most optimized workflow to achieve those initiatives. But process mining has potential on the other end of a B2B transaction as well.

Process 56

Process B2B Payments Accounts 56

PYMNTS

OCTOBER 18, 2019

Using blockchain, invoices can be tokenized and turned into smart contracts, meaning information cannot be duplicated or altered. For instance, it mitigates the risk of duplicate invoice payments — a problem for manual invoice processing and accounts payable practices across a range of industries, Handoush said.

Blockchain 41

Blockchain Duplicate Mitigation Risk 41

Nanonets

SEPTEMBER 25, 2024

Set up rule-based workflows to identify and remove any duplicate entries and human review for complex or ambiguous transactions. Regularly analyze reasons for variances (for eg: format differences, fraud, duplicate records) Discrepancy identification During reconciliation, any mismatches are flagged for further review.

Process 52

Process AI Best Practices Reconciliation 52

PYMNTS

JUNE 25, 2018

companies, Invu assessed the supplier payments, invoice management, planning and overall efficiency, and survey respondents drew a startling conclusion: A significant portion of companies assessed are in need of “urgent” changes to their purchasing and payment processes. In its survey of 200 financial decisions at U.K.

Duplicate 40

Duplicate Assessments Accounts Process 40

Nanonets

JULY 25, 2023

The goal of financial analysis is twofold: to make internal assessments for managerial decision-making and to make external assessments to determine the firm's value or context. Ratio Analysis: Ratio analysis involves calculating and interpreting various financial ratios to assess a company's financial health and performance.

Financial Analysis 52

Financial Analysis Payment APIs and Integration Assessments Automation 52

FICO

SEPTEMBER 6, 2021

There are five distinct stages that require validating the applicant’s information and assessing their creditworthiness. In addition, each of these groups typically pays for their own external data streams, another expensive duplication. Doug: How are processes handled in most organizations today?

Financial Crimes 52

Financial Crimes Online and Mobile Banking Wires Wire 52

Nanonets

MAY 7, 2024

By comparing these records, businesses can identify any discrepancies, such as missing or duplicate transactions, incorrect or false amounts, or any unauthorised expenses and transactions. Credit card reconciliation helps identify discrepancies such as fraudulent transactions, duplicate charges, or unauthorised expenses.

Reconciliation 52

Reconciliation Best Practices Credit Cards Compliance 52

Nanonets

APRIL 12, 2023

Conduct a Baseline Assessment Define tail spend and understand the current system used for it. The assessment will develop a baseline to build benchmark KPIs. To further improve the accuracy of its data, Nanonets includes a range of approval workflows, duplicate alerts, and fraud detection tools.

Assessments 52

Assessments Compliance Process Automation 52

Nanonets

MAY 15, 2023

Periodic assessment of its use, features, and RoI is essential to optimize its SaaS portfolio. The following steps can help establish an effective SaaS spend management strategy: Maintaining an inventory of all SaaS applications in use across the company is essential to prevent duplication and unwanted purchases.

Duplicate 52

Duplicate Automation AI On-Demand 52

Nanonets

JANUARY 11, 2024

Avoid duplicates by submitting orders through the Process Orders page in Settings > Integration > Integration Partners > QuickBooks Online.   Key features include:   Shopify Fraud Assessment: Identify potential fraudulent orders by importing Shopify's Fraud Risk Assessment into ShipStation.

API 52

API Automation Database Point-of-Sale (POS) 52

Nanonets

NOVEMBER 14, 2023

E-Tendering : This stage entails a comprehensive assessment of potential suppliers, ensuring transparency in the evaluation process. Reduces supply problems, including pricing mistakes, order duplication, and inventory issues. Minimizes missing orders, order duplication, and enhances overall efficiency.

Automation 52

Automation Process Facilitators Duplicate 52

Segpay

APRIL 16, 2024

Billing Issues: Discrepancies in billing, such as duplicate charges or incorrect billing amounts, can lead to chargebacks. PSPs may offer fraud scoring and risk assessment services to evaluate the likelihood of fraud for each transaction and flag high-risk transactions for further review.

Disputes 52

Disputes Address Verification System (AVS) Fraud Prevention Fraud Detection 52

Nanonets

MAY 31, 2023

Deviations should be assessed to see if they fall within tolerance limits to proceed with invoice processing or revert the invoice to the vendor for corrections. Protection against duplicate and fraudulent invoices - Automating invoice matching entails consistent validation between invoices and supporting documents.

Automation 52

Automation Audit Process Checks 52

FloQast

OCTOBER 27, 2023

The risk assessment should also identify the potential consequences of each risk and the controls in place to mitigate those risks. Plus, it captures audit evidence at the source, eliminating duplicate audit activities and complexity. You can get a demo and see how to stay audit-ready, reduce risk, and save time.

Compliance 52

Compliance Best Practices Mitigation Procedures 52

EBizCharge

MAY 20, 2024

First, assess the types of NetSuite payment methods you want to accept, including major credit cards like Visa, MasterCard, and American Express, as well as digital payment options. Finally, your provider should provide a seamless NetSuite integration that minimizes the risk of duplicate data entry and offers robust fraud management tools.

Process 52

Process PCI DSS Processors Payment APIs and Integration 52

Nanonets

AUGUST 1, 2023

Risk Assessment: Audit automation helps auditors assess risks more effectively by identifying potential red flags and areas of concern within the data. It enables a more comprehensive and targeted risk assessment process. Complex approval workflows, duplicate alerts, and fraud detection.

Audit 40

Audit Automation Risk Assessment Payment APIs and Integration 40

Stax

NOVEMBER 11, 2024

NACHA also requires businesses to take responsibility for reversals in the event of errors or duplicate transactions. The record of authorization must also be retained for a specific period (often two years) to demonstrate compliance if needed.

ACH 88

ACH Checks Identity Theft Payments 88

Nanonets

SEPTEMBER 1, 2023

As we explore this, it becomes evident that assessing what key performance indicators (KPIs) would be affected is essential. Payment Error Rate: In payment errors, duplicate payments are a persistent concern. Days Payable Outstanding:  All AP teams must balance paying off invoices and keeping enough cash in the business.

FedNow 52

FedNow Wire Transfer Federal Reserve ACH 52