PayCLT

@Venture135, the premier deal flow conference for venture capital and entrepreneurship, is fast approaching! This year's conference is primarily invitation only, with a very limited number of tickets open for purchase. Only accepting a limited number of guests, the best venture capitalists, angel investors, and Corporate Innovation Teams will be in attendance. Join us on Nov 21-22 in Charlotte, NC as we explore the latest innovations in fintech + insurtech. #V135 ??? https://lnkd.in/e3KjUtaQ? @RevTech Labs (LinkedIn) or @revtech_labs (Instagram)

Good question... Why haven’t Instant Payments grown faster? ? https://lnkd.in/eiWiUzuT There are several reasons, including banks taking a slow approach, lack of ISO 20022 adoption, a low base to start off with, and two real time payment systems which don’t talk to each other. "Timing is everything. Other U.S. payments networks carved away or retained the high-volume use cases of P2P, B2C (disbursements), and C2B (bill pay & commerce). For B2B, the US business community has not embraced the ISO 20022 standard that is a clear differentiator for Instant Payments – so the B2B use case has selective uptake. Finally, despite all its early cheerleading, the government slowed things down in a variety of ways. This post will walk through the competitive situation, use case by use case, and address the other obstacles. At the end, I will speculate on future adoption scenarios.?First, we need to understand why Instant Payments are different from incumbent payment methods". #b2bpayments #instantpayments #digitaltransformation #iso20022

Stay vigilant... Combatting payments fraud: Key insights every treasurer and CFO must know ? https://lnkd.in/eWd8swzU Payments have evolved and are a key part of a successful treasury strategy.?Fraudsters are always trying to keep up and take advantage.?Vigilance is key.?"As?payment fraud attacks become more frequent and targeted, with payouts greater than ever, CFOs, corporate treasurers and their teams are expected to ramp up efforts and strengthen their commitment to payments security. In this context, gaining a thorough understanding of the most prevalent and emerging types of payment fraud will facilitate a strategic preventive stance that enhances both detection and protection against payment fraud. Additionally,?consistent?and specialized payments fraud training (securetreasury.com) for corporate treasury professionals will aid in mitigating payments fraud, thereby decreasing the impact of these losses in the fast-changing payments landscape". #b2bpayments #fraud #riskmanagement

Recon mission... Neglecting Payment Reconciliation: The Hidden Threat to Business Stability and Growth https://lnkd.in/eZrSWGRa ? Payment reconciliation seems like a straightforward process. However, there are many factors which add complexity to and difficulty in reconciling payment transactions. Automated solutions are a great way to help resolve.?"Despite its importance, many businesses either struggle with or entirely neglect the reconciliation process. The reasons are often tied to the growing complexity of managing diverse payment methods, operating in multiple currencies, or scaling operations across different markets. Manual reconciliation, in particular, becomes?a near-impossible task in such environments, leading many businesses to simply hope that everything adds up at the end of the month. This is a dangerous gamble". ? #b2bpayments #digitaltransformation #paymentautomation

Making it work... Banks and fintechs need each other. Will regulators help them tie the knot? ? https://lnkd.in/dNHh8Ptt Regulators need to find that middle ground that allows for bank-fintech partnerships to be successful and impactful. “We just need to be collectively thoughtful about how we do it, and it’s going to take a balancing of interest,” he said. “The banks and their supporters aren’t going to be happy. The fintechs and their supporters probably aren’t going to be happy, either, but there’s a lot of money to be made, a lot of improvement in the U.S. economy to be had, and a lot of wealth to be created by allowing those two parties to cooperate in a manner that’s thoughtful and beneficial.” #fintech #b2bpayments #digitaltransformation

Transformative... How Embedded Finance is transforming B2B corporate customer experience ? https://lnkd.in/dzt8Z2u3 Embedded payments are opening doors for corporates to differentiate themselves with customers and gain greater efficiencies. FI’s who provide these services have a leg up. "Embedded Finance, a transformative approach where financial services are integrated into platforms that businesses and consumers already use regularly, is revolutionising the banking industry by making financial services more accessible and user-friendly.?Payments are the common thread linking all commercial exchanges and integrating them into familiar platforms can significantly improve customer experiences and business efficiency". #embeddedpayments #b2bpayments #digitaltransformation

Clock is ticking... For ISO 20022, the Time Is Now ?https://lnkd.in/gHExukvH It’s getting late in the game, some banks are ready, some are not. But ISO is about speaking the same financial language, which has tremendous benefits which will drive customer success. All FI’s need to get in the game. "Whatever the impetus for adopting ISO 20022, it’s important to move away from the idea that customers are going to somehow drive product development. The fact of the matter is that payers and payees don’t really care about such details. They’re never going to come up with a use for a messaging standard to create a new product or demand a new product. ISO 2022 is about making sure that we are all speaking the same language". #b2bpayments #ISO20022 #digitaltransformation

New paths... How can you make money with Embedded Finance? ? https://lnkd.in/eCZNi2wi Embedded finance provides non-FI companies with new revenue and growth opportunities. The best way is with the right partner. "With the rise of Embedded Finance, many non-financial companies are starting to launch their own payment, banking, lending, investment, or insurance products. When these companies apply for a license and become banks, they will have the same revenue opportunities. However, the majority of non-financial brands opt out of regulation and instead provide financial services in collaboration with regulated entities. For various reasons, this tends to be their best choice". #b2bpayments #embeddedfinance #fintech

Join us on October 22 at 6:00 PM for an exciting online-only panel: Regulation in Fintech: How to Build Responsibly. How should Fintechs view regulatory bodies within the United States? As outdated hurdles who’ll never understand the cool things you’re doing? As stodgy marketplace participants who should only get the minimum amount of information about your business??As hurdles so impossible to surmount that you’re better off ignoring? Correct answer: none of these! In many ways, the US fintech regulatory framework has been slower to fully develop than many other jurisdictions around the world, allowing market participants a chance to experiment and demonstrate new innovations without regulatory mandates. However, slower regulatory development hasn’t meant looser standards in the long run, and building responsible regulatory partnerships is key. Through difficult topics like consumer data availability, national fintech charters, or debit interchange regulation, successfully navigating the regulatory landscape can be a challenging experience for fintechs, but adhering to the letter and spirit of the law is vital to establishing a viable business model. Come join a panel of experts who’ve successfully partnered with regulators from a variety of banking as a service, open banking, and general financial institution roles to get a taste of how to responsibly build sustainable fintech businesses in today’s ever-evolving regulatory environment. Please register here: https://lnkd.in/e2ePRBUj Dean N. Nick Williams Scott Harkey Miguel Cintron Coty Lee Donna Turner Dan Roselli Davina Demelenne Wade Davis, J.D. Marcia Klingensmith Katherine Wong Shelly Franke Mohamed Mostafa Sherry Seetram Rich Dooley, MBA, CTP

Join us on October 22 at 6:00 PM for an exciting online-only panel: Regulation in Fintech: How to Build Responsibly. How should Fintechs view regulatory bodies within the United States? As outdated hurdles who’ll never understand the cool things you’re doing? As stodgy marketplace participants who should only get the minimum amount of information about your business??As hurdles so impossible to surmount that you’re better off ignoring? Correct answer: none of these! In many ways, the US fintech regulatory framework has been slower to fully develop than many other jurisdictions around the world, allowing market participants a chance to experiment and demonstrate new innovations without regulatory mandates. However, slower regulatory development hasn’t meant looser standards in the long run, and building responsible regulatory partnerships is key. Through difficult topics like consumer data availability, national fintech charters, or debit interchange regulation, successfully navigating the regulatory landscape can be a challenging experience for fintechs, but adhering to the letter and spirit of the law is vital to establishing a viable business model. Come join a panel of experts who’ve successfully partnered with regulators from a variety of banking as a service, open banking, and general financial institution roles to get a taste of how to responsibly build sustainable fintech businesses in today’s ever-evolving regulatory environment. Please register here: https://lnkd.in/e2ePRBUj Dean N. Nick Williams Scott Harkey Miguel Cintron Coty Lee Donna Turner Dan Roselli Davina Demelenne Wade Davis, J.D. Marcia Klingensmith Katherine Wong Shelly Franke Mohamed Mostafa Sherry Seetram Rich Dooley, MBA, CTP