The Payments Newsletter: March 2024

The latest fraud, banking and payments content from our partners and subject matter experts.

Tracking the changing role of the corporate treasurer

The spotlight is on the treasury department. In this episode, we catch up with Guillaume Jouvencel from Corporate Treasury 101 on the significance of the treasurer's role and how that's becoming far more strategic. We consider the challenges and advantages of technology changes, obstacles to overcome, and three key areas of focus for treasury teams going forward. Listen here.

Higher education economic pressures make business case for payments automation

Many higher education institutions are dealing with the same issue - outdated payment systems that lead to inefficiency and frustration. One solution to this problem is AP automation software. However, getting approval for this type of investment can be challenging, especially in budget-constrained environments. This article highlights the top three elements for building a business case that can help institutions justify the implementation of AP automation. Read more here.

Construction sector builds on automated payments

Construction is a complex world. Managing cash flow becomes a critical issue for contractors who need to pay for labor, materials, and equipment upfront. Payments in the sector are typically made in increments based on the completion of project milestones or phases, requiring detailed documentation and approval processes, which can delay payments and add administrative burdens. This article delves into potential solutions to help improve efficiency. Read more here.

Acceleration in digital banking fraud demands more aggressive detection and defense

Digital banking is under attack by fraudsters whose creativity in impersonating legitimate users has reached unprecedented levels, bringing into question the efficacy of disconnected defense systems to defend against account takeover. Hanging in the balance is a negative customer experience, loss of reputation, and a potential hit to the balance sheet. This article sheds light on the newest fraud schemes infiltrating the digital banking sector. From cunning social engineering to AI-driven mimicry, the tools in the fraudster's arsenal are evolving – but so are the strategies to combat them. Read more here.

IOFM chief evangelist details growth plans for AP automation

AP and AR leaders are not just reducing costs and increasing automation efficiency in their payment processes. They are expected to play a more strategic role and provide accurate insights into the office of the CFO and the business as a whole. Institute of Finance and Management (IOFM) 's Mark Brousseau shares his expert opinion on these expectations and offers practical guidance to help leaders meet these demands with confidence. Listen here.

Multibank relationships increase demand for dedicated commercial banking platforms

Digital commercial and corporate banking are catching up to the retail side of the house. There is a growing need for seamless and hassle-free experiences. An increasing need for advanced functionalities and insights from these experiences accompanies this demand. These developments hold significant implications for banks that are currently dependent on a single digital banking platform to cater to the needs of their consumer, small business, and commercial customers. This article examines why it’s time for banks to prioritize separate platforms for different customer segments. Read more here.

Commercial banking market outlook

Bottomline’s?2024 Market Outlook Report for Commercial Banking?focuses on a strategic approach that zeroes in on?specific, well-defined opportunities to increase revenue,?optimize digital transformation efforts, manage liquidity, and bolster the strength of client relationships. It is here that you can architect your bank’s success. Read the report.