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The Challenges And Benefits Of ISO 20022 Migration

PYMNTS

Treasury management software provider TreasuryXpress released an API in 2017 that uses ISO 20022 to convert system data in a treasury management and enterprise resource planning platform into payments to prove compatibility. .

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Wells Targets ACH Data Friction In Accounts Receivable

PYMNTS

The tools aim to reduce paper in corporate finance operations, Wells explained, and nix manual remittance and data entry. Remittance advice matching automatically matches data from ACH and wire payments with remittance data sent by various channels, including paper mail, email and fax.

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How AR Can Usher The Legacy Lockbox Into The Digital Age

PYMNTS

And while the lockbox continues to play an important role in AR and reconciliation, it no longer addresses the entire challenge as more electronic payments come in without remittance data. He did note, however, that he is “very optimistic” about the emergence of new payment services able to move remittance data along with funds.

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For Insurance, Faster Payments Means Nothing Without Data

PYMNTS

Remittance data, linked to payments between providers and insurance players, is critical on both ends of the transaction. ” In verticals like healthcare, claim data can be dozens of pages long and, at present, the market struggles with transmitting that information efficiently whenever payments are made. .”

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B2B Finserv Embraces New Faster Payment Rails

PYMNTS

One of them is Deluxe Corporation, whose Treasury Management Solutions unit announced this week a new plug-and-play check scanner that allows users to more seamlessly begin scanning paper checks and integrating that information into back-end systems. s first new payment rail since ACH launched in 1974.