PYMNTS

JUNE 3, 2019

Through insurance mandates, providers’ directories had to be updated with that demographic information, but inaccuracies and inefficiencies abound. The record trail is far-flung and often duplicative. Reconciliation offers a challenge, then, and the costs are high, as the industry spends $2.1

Compromise 53

Compromise Identity Theft Data Breach Breach 53

Neopay

FEBRUARY 27, 2025

To avoid duplication of requirements and to provide legal clarity to the market, the EBA has amended its Guidelines on ICT and security risk management. DORA has introduced harmonised requirements on ICT risk management that apply to financial entities across the banking, securities/markets, insurance and pensions sectors.

Risk Management 52

Risk Management Risk Security Legal Framework 52

PYMNTS

OCTOBER 4, 2019

That raises several questions for financial institutions (FIs), FinTech firms and payment service providers as they figure out how to best navigate this changing world. Legacy payment providers are looking for ways to innovate in the ways that [FinTech firms] do, and to avoid duplicative costs.”. Recent Trends.

Credit Cards 70

Credit Cards Card Issuer Issuers Identity Theft 70

PYMNTS

FEBRUARY 5, 2020

But as service providers find opportunity in mitigating friction associated with employee purchases, Hoag noted that the true opportunity lies not in the payment itself. Teams often don’t understand they’re paying for overlapping services, duplicate vendors and zombie subscriptions that fall below the radar.”.

Duplicate 57

Duplicate Payments Commercial Card Compliance 57

PYMNTS

DECEMBER 3, 2018

.” “Some of the worst examples are the manual and paper management of expense reports,” he said, adding that technology can automate adherence to company spend policy, detect duplicate expense items and beyond. In expense management, data emerges as the currency of control.

Automation 57

Automation AI Duplicate Treasury Management 57

Nanonets

MARCH 22, 2023

Accounts payable outsourcing is the process of hiring a specialised service provider who can take over multiple AP functions that businesses find difficult to handle in-house. Issues with duplication Many account payable outsourcing companies charge on a per-invoice basis. What is accounts payable outsourcing?

Accounts 52

Accounts Duplicate Automation Privacy 52

PYMNTS

JULY 26, 2019

As payments accelerate, the window of opportunity for financial service providers to identify and shut down a fraudulent transaction narrows. Banking technology firm Nucleus Software is rolling out a new solution to address this issue for financial institutions.

Real Time Payments 40

Real Time Payments Cross-Border Payments Faster Payments Fraud Detection 40

PYMNTS

OCTOBER 2, 2018

“Awareness is really high,” Weinberg said about online privacy, adding that the company’s own surveys echo findings that a good chunk of consumers are having second thoughts about how their data is used by digital service providers. And is it my responsibility to avoid issues like duplicate entries?” ” Another issue?

Privacy 75

Privacy Laws Consumer Duplicate 75

EBizCharge

OCTOBER 17, 2023

To help with this, here are six common causes of ACH reversals to be aware of: Duplicate payments: ACH payment reversals can rectify accidental or duplicate payments to correct unintended financial repetition and appropriately restore funds. The timing and notification process of ACH returns and reversals also differ.

ACH 52

ACH Returns RDFI ODFI 52

PYMNTS

JANUARY 28, 2020

Digital coupons are practically immune to several types of fraud, according to John Ross, innovation adviser and industry partner for data analytics and commerce services provider Inmar.

Duplicate 56

Duplicate Database Mitigation Adjustments 56

Clearly Payments

JUNE 21, 2024

Service Discrepancies: For services, the cardholder might feel that the service provided did not match the description or expectations set during the purchase. Duplicate Charges: The cardholder’s account was charged multiple times for the same transaction.

Disputes 52

Disputes Address Verification System (AVS) Credit Cards Best Practices 52

PYMNTS

JANUARY 3, 2020

These firms also need to be connected to value-added services, such as affordable logistics service providers, access to a qualified workforce, automated payroll and taxation services. However, offering SMBs a digital platform to connect with other business buyers and sellers is only one piece of the puzzle.

Financial Inclusion 48

Financial Inclusion On-Demand FinTech Small Business 48

FICO

FEBRUARY 6, 2019

From September this year, PSD2 requires Payment Service Providers (PSPs) to secure more transactions using Strong Customer Authentication. Asking customers to provide these elements is likely to be disruptive to them , delaying or even preventing them from making payments or carrying out other activities.

Authentication 53

Authentication Compliance Duplicate Risk 53

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. Outsourced Reconciliation Some businesses choose to outsource their expense reconciliation tasks to third-party service providers.

Reconciliation 52

Reconciliation Best Practices Credit Cards Compliance 52

PYMNTS

MARCH 21, 2018

Nearly half (47 percent) of survey respondents also noted that their organizations keep duplicate records of employees, leading to greater compliance risk. On average, businesses keep five separate records per employee, while professionals are forced to spend 32 hours a week on manual, duplicate data entry alone.

Payroll 43

Payroll Compliance Faster Payments Duplicate 43

M2P Fintech

DECEMBER 2, 2024

When we partner with another NBFC, its called a downstream partnership, where we provide our balance sheet, and the partner NBFC serves as a Loan Service Provider (LSP). When we get into a co-lending agreement with a Bank, its called an upstream partnership, where the Bank provides the balance sheet, and we serve as their LSP.

Due Diligence 52

Due Diligence Underserved Origination On-Demand 52

Nanonets

SEPTEMBER 22, 2023

Checking for duplicate payments is another essential practice that helps prevent unnecessary expenditure and minimizes errors. Check for duplicate payments to minimize errors and unnecessary costs. Regularly checking for duplicate payments can also save costs and mitigate financial losses.

Accounts 40

Accounts Master Account Best Practices Reconciliation 40

FICO

SEPTEMBER 6, 2021

It’s a generalized flow that could be for an application for a new credit card at a bank, a new phone at a mobile service provider, a car loan or many other types of credit. In addition, each of these groups typically pays for their own external data streams, another expensive duplication.

Financial Crimes 52

Financial Crimes Online and Mobile Banking Wires Wire 52

The Fintech Times

MAY 21, 2024

We are allowing flexible and efficient communications amongst the fund service providers. The asset managers will also be able to see this same information. What are some unique challenges associated with the region/country in the digital investment space?

Cross-Border 59

Cross-Border Duplicate API Financial Inclusion 59

Nanonets

MAY 15, 2023

Software-as-a-service, or SaaS, is a cloud-based delivery model that allows users to access software applications through subscriptions rather than purchasing and installing them. The service providers host the software on their servers and make it available to subscribed customers through web browsers, mobile apps, and APIs.

Duplicate 52

Duplicate Automation AI On-Demand 52

Stax

MARCH 14, 2024

The chip in an EMV card generates a unique code for each transaction, making it nearly impossible for fraudsters to duplicate the card’s information for fraudulent purposes. However, the level of security provided can vary depending on whether the card is used with a PIN or a signature.

Chip Cards 88

Chip Cards CHIPS EMV Debit Card 88

PYMNTS

APRIL 29, 2019

Brands unit Pizza Hut , for instance, announced in December that it would acquire online ordering software and service provider QuikOrder. Intercepting short message service (SMS) communications, for instance, is one way that scammers exploit mobile devices. President Artie Starrs said in a press release at the time.

Duplicate 43

Duplicate Acquirers Agreements Authentication 43

FICO

JULY 5, 2023

Here are five other ways crooks use subscription fraud to commit crimes against customers and service providers, with advice on how to stop them. CFCA reports 39% of fraud teams are taking on customer service responsibilities while 20 percent are involved in sales and marketing.

Crime 52

Crime Online and Mobile Banking Gateways Rules 52

FloQast

OCTOBER 27, 2023

For example, by sending payments using the Federal Reserve’s FedNow service, “businesses and individuals can send and receive instant payments in real-time, around the clock, every day of the year. Plus, it captures audit evidence at the source, eliminating duplicate audit activities and complexity. appeared first on FloQast.

Compliance 52

Compliance Best Practices Mitigation Procedures 52

Stax

SEPTEMBER 17, 2024

You can send a wire transfer through your financial institution, such as your bank or credit union, or financial services providers, such as Western Union and Moneygram. You can stop, cancel, or reverse incorrect payment amounts or duplicate payments within the same business day.

Wire Transfer 88

Wire Transfer Wires Wire ACH 88

Segpay

APRIL 16, 2024

Billing Issues: Discrepancies in billing, such as duplicate charges or incorrect billing amounts, can lead to chargebacks. Providing clear and accessible billing information, including invoices and receipts, can help customers understand and verify their charges, reducing the likelihood of billing-related disputes.

Disputes 52

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

Nanonets

SEPTEMBER 1, 2023

The standout feature is immediate & irreversible transaction settlement, a notable departure from the conventional pacing of ACH and other comparable services. "The Federal Reserve built the FedNow Service to help make everyday payments over the coming years faster and more convenient, " said Federal Reserve Chair Jerome Powell.

FedNow 52

FedNow Wire Transfer Federal Reserve ACH 52

PYMNTS

JANUARY 21, 2019

Theoverarching strategy is to meld financial services and eCommerce front to back. According to the release announcing the deal – the goal is create a “one-stop shop” for integrated offerings to banks, merchants and a range of service providers.

Debit Card 49

Debit Card Visa Central Bank Small Business 49

Nanonets

APRIL 3, 2024

Initial Consultation The process begins with an initial consultation between the client and the virtual bookkeeping service provider. The virtual bookkeeper gathers essential information about the client's business structure, industry, existing accounting systems (if any), and the scope of services required.

Automation 74

Automation Payment APIs and Integration Reconciliation Financial Analysis 74

Nanonets

JUNE 24, 2024

Merchant service reconciliation: This is pertinent to the income side of the reconciliation, where customers pay for the business via credit card. The accounting team must reconcile the credit card transactions received with the proofs received via the merchant service provider or payment processor, such as Paypal.

Reconciliation 52

Reconciliation Credit Cards Correspondent Issuers 52

Nanonets

MARCH 20, 2023

Accounts payable processing keeps overspending in check, and prevents multiple/duplicate payments for the same product/service. Prompt payments also prevent overdue charges, penalties, or late fees. Schedule a Demo auto-collect documents into your AP workflow What is the AP workflow process?

Process 52

Process Accounts Automation Checks 52

Nanonets

AUGUST 8, 2023

It lets them focus on their core competencies while outsourcing non-core functions to an external service provider. Seamless integration will enable smooth data flow and avoid duplication of effort. Support and training: Evaluate the level of customer support provided by the software provider.

Automation 52

Automation Payroll Bots Payment APIs and Integration 52

Nanonets

APRIL 14, 2023

Fixed spends are expenses that do not vary with an increase or decrease in the number of goods sold or services provided. These expenses must be paid regardless of business activities and are generally indirect expenses that do not relate to the production of goods or services.

Automation 52

Automation Process Credit Cards Compliance 52

Nanonets

SEPTEMBER 21, 2023

An invoice is a crucial component of any business transaction, providing a detailed breakdown of a sale. It includes important information such as the amount owed by the customer, the products or services provided, and the payment due date. Furthermore, invoices help businesses avoid duplicate payments or pay inaccurate amounts.

Audit 40

Audit Legal Accounts Transactions 40

Nanonets

SEPTEMBER 22, 2023

This article will provide a comprehensive understanding of  trade payables , their recording in the company's  balance sheet , and the expected  payment terms. Key Takeaways: Trade payables  represent the amount owed to suppliers for goods or services provided on credit.

Automation 40

Automation Accounts Risk Process 40

Nanonets

SEPTEMBER 22, 2023

Description and Pricing:  The description and pricing of the products or services provided should be clearly stated on the invoice. Description and Pricing The description and pricing on a vendor invoice should align with the details provided in the purchase order to ensure accuracy and avoid discrepancies.

Reconciliation 40

Reconciliation Automation Disputes Process 40

Nanonets

JULY 21, 2023

The platform integrates data, applications, RPA tools, and AI services, providing end-to-end automation capabilities on a single platform. Industries spanning Financial Services, Travel, and Healthcare can benefit from SolveXia's AI-powered technology. Detailed audit trails contribute to risk reduction and compliance.

Reconciliation 52

Reconciliation Payment APIs and Integration Automation Audit 52