The Payments Newsletter: August 2024
Stay informed with the latest fraud, banking, and payments content from our trusted partners and subject matter experts. We've got you covered with tips, best practices, industry insights, and trends.
CFO Insights: Balancing the Finance Function with AP Automation
Globally, finance teams get tasked with driving business value while preserving company culture, valuing employees, mitigating risk, improving established processes, and driving automation—a tricky endeavor to achieve! Angeline Mesny Sanford shares the three big-picture lessons CFOs should consider when walking that tightrope. Read it here.
Instant Payments Adoption in the US
Real-time payments have prompted financial institutions to modernize their operations to meet commercial and retail customer needs. On the back of FedNow's 1st birthday, Jessica Cheney talks to us about adoption rates in the US market and the compatibility between the Clearing House's RTP and FedNow's Instant Payments services. Listen here.
Beating BEC Fraud with Proactive Prevention
An alarmingly effective fraud tactic is that innocuous-looking email from someone of authority asking you to take care of a money transfer. It has happened and can happen to even the savviest of people. In this article, fraud consultant Albert Laino shares the red flags to recognize and offers guidance on effective fraud prevention measures to help combat evolving digital threats. Read it here.
AP Earns a Seat at the Strategy Table
A recent study from Ardent Partners , "The Current State of ePayables 2024: Money Never Sleeps," outlines the perspective of over 200 AP executives who participated in the survey. Findings highlight the crucial role of ePayables in ensuring prompt, accurate outgoing payments and how APs' insight into cash management now plays a significant role in strategic decision-making. Read it here.
European Banks: Ahead or Behind the Instant Payments Game?
FedNow’s instant payments are now available in US, while India and China are showing strong growth. In the EU, any euro payment must be completed within seconds, 24/7. We caught up with Lipis Advisor’s founder, Leo Lipis , to get the latest insights and future trends. Listen here.
Happy 1st Birthday, FedNow!
The RTP? network, launched by The Clearinghouse (TCH) in 2017, was followed by the Federal Reserve's FedNow instant payments service a year ago. What insights have we gained, and are there extra advantages that instant can offer businesses? We also consider a future where co-existence and interoperability between the systems will be necessary. Read it here.
Operation Resilience Rules for Organizations
To ensure financial stability, banks and other financial service firms operating in the UK must be ready to handle unexpected service disruptions. Our guest, Richard Ransom , discusses the UK's new legislation (SS1/21) and the responsibility firms have to mitigate risk, minimize impact, and continue providing essential services regardless of the cause of the disruption. Listen here.
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