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FIs Embrace FinTech Options To Bolster Business Banking

PYMNTS

This week's look at the latest in open banking and bank-FinTech collaboration finds financial institutions (FIs) exploring both partnerships and acquisitions to strengthen their offerings for corporates, while third-party service providers have also boosted their data-sharing capabilities to empower those financial service provider tie-ups.

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Preserving Check Workflows Can Ease B2B Payments Digitization

PYMNTS

” That understanding means service providers cannot force corporates away from paper. Rather, Reed explained, by virtualizing the paper check and preserving many of the workflows that surround it, businesses can face far less friction in their payments digitization journeys. “Checks will be around for a while.

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What ‘Work From Home’ Means For Paper-Based AR Departments

PYMNTS

As Biegel explained, a lack of data standardization across payment tools remains a challenge to the reconciliation and cash application process, even when that data is electronic. Lockbox Data Headaches. Yet payers include a vast array of information with their check payments, and lockbox providers relay that data in different ways.

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