PYMNTS

JULY 25, 2018

“Organizations are now using measures, such as positive pay, to a much larger extent than before, after its use declined in 2016,” the AFP noted. “Organizations are also installing new internal controls to protect against BEC scams.

Scams 55

Scams Business Email Compromise AFP Wire Transfer 55

PYMNTS

SEPTEMBER 26, 2016

. “Sometimes, customers, especially in the mid-market space, are either not aware of the best practices or just don’t have the resources to administer best practices,” he said, pointing to the Positive Pay tool to combat check fraud and to NACHA’s standards to secure ACH payments.

B2B 65

B2B Same Day ACH ACH Commercial Card 65

Nanonets

MARCH 30, 2023

AP Automation solutions establish automated payment controls, including Segregation of Duties, Dual-Factor Authentication, and Positive Pay Files, which prevent internal fraud and protect against account takeovers.

Automation 52

Automation Transactions Wire Transfer ACH 52

The Finance Weekly

APRIL 27, 2022

In order to mitigate check and payment tampering risk, for example, first address delegation of responsibility issues, utilize check logs, leverage the bank’s positive pay controls, and then review account reconciliations.

Payroll 52

Payroll Risk Addressing Checks 52

Fintech Labs Insights

APRIL 22, 2022

Positive pay for transactions over a certain amount. Should-have features: Large dynamic (changes with bank balance ) spending limits (with floor level). Smart spending controls at the card-holder level. Lifetime statement/transaction archives. Dedicated account manager(s) you know by name (with contact info). Weekend customer service.

Small Business 15

Small Business Disputes Embedded Finance Debit Card 15

Fintech Labs Insights

MARCH 23, 2022

Positive Pay (aka Zifi Shield): Allows customers to authorize checks presented for payment (before the money leaves your account). They are currently creating a waitlist and experimenting with search engine advertising (that’s where I saw it first, ad based on my Google search for “best small business banks” from a Seattle IP address).

Small Business 15

Small Business Debit Card Checks Positive Pay 15

Fintech Labs Insights

APRIL 12, 2022

Positive pay for all items. Should-have features: Invoicing/bidding with embedded payments*. Lifetime statement/transaction archives. Dedicated banker(s) you know by name. Card processing*. Overdraft protection*. Credit/charge card*. Weekend customer service. Enhanced customer service*. Enhanced security*. Access on/off switch.

Small Business 15

Small Business Accounts Online and Mobile Banking Authentication 15