ACH | Jotup

Survey: 80% of Organizations Experienced Payments Fraud in 2023, Significant Uptick from Previous Year

Retrieved on:

화요일, 4월 16, 2024

ACH, Software-defined networking, Financial Crimes Enforcement Network, Risk, Safety, Truist, USPS, History, AFP, Fraud, Control, Organization

ROCKVILLE, Md., April 16, 2024 /PRNewswire/ -- Eighty percent of respondents report that their organizations were victims of attempted or actual payments fraud activity in 2023, according to the 2024 AFP Payments Fraud and Control Survey, underwritten by Truist.

Key Points:

ROCKVILLE, Md., April 16, 2024 /PRNewswire/ -- Eighty percent of respondents report that their organizations were victims of attempted or actual payments fraud activity in 2023, according to the 2024 AFP Payments Fraud and Control Survey , underwritten by Truist.
This number reflects a 15-percentage point increase in payments fraud over 2022 and the highest rate reported since 2018.
Checks continue to be the payment method most vulnerable to fraud, with 65% of respondents reporting their organizations faced fraud attacks of this type.
"These findings underscore the relentless evolution of payments fraud," said Chris Ward, Head of Enterprise Payments at Truist.

Finzly Among the First to Receive Fed Certification for Fedwire ISO 20022

Retrieved on:

목요일, 4월 11, 2024

ACH, DIT2, RTP, ISO, Automation, Accreditation, FedNow

CHARLOTTE, N.C., April 11, 2024 /PRNewswire-PRWeb/ -- Finzly, the pioneering provider of modern money movement systems to financial institutions, today announced its achievement as one of the first Third-Party Service Providers (TPSP) to be certified for compliance to ISO 20022 messaging standards for Fedwire. This landmark accreditation positions Finzly at the forefront of innovation, enabling financial institutions to transition to the next generation of payment processing.

Key Points:

In addition to Fedwire, Finzly's ISO 20022 native platform encompasses all other domestic payment rails, including FedNow, RTP, and ACH.
Unlike the current legacy Fedwire Application Interface Manual (FAIM) messaging standard, ISO 20022 facilitates the seamless transmission of crucial transaction information alongside payments.
In addition to Fedwire, Finzly's ISO 20022 native platform encompasses all other domestic payment rails, including FedNow, RTP, and ACH.
As financial institutions prepare for the March 2025 deadline for ISO 20022 compliance in Fedwire payments, they must define their modernization strategy.

The Hunt for the Best in Fintech - Leadership, Innovation, AI Technology Shaping Future Growth

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수요일, 3월 20, 2024

Report Ocean says, "The global Fintech market is on an unparalleled growth trajectory, projected to soar at an impressive CAGR of 25.0% from 2022 to 2028.

Key Points:

Report Ocean says, "The global Fintech market is on an unparalleled growth trajectory, projected to soar at an impressive CAGR of 25.0% from 2022 to 2028.
"Escalating investments in technology-driven solutions, including Artificial Intelligence (AI), Machine Learning (ML), cloud computing, and blockchain, are propelling the Fintech sector forward."
With strong growth on the horizon for Fintech stocks, the Industry is recognizing excellence and innovation in payments and financial technology to showcase the leaders.
For investors, industry recognition is another tool for due diligence, but using the company's technology is the best first hand test for defining the winners of the future.

Mackoul Risk Solutions, LLC Integrates Applied Pay in a Single Day

Retrieved on:

수요일, 3월 27, 2024

ACH, Automation, Pain, Cryptocurrency

Chicago, IL., March 27, 2024 (GLOBE NEWSWIRE) -- Applied Systems® today announced that Mackoul Risk Solutions, LLC is leveraging Applied Pay to deliver easy online insured payment options.

Key Points:

Chicago, IL., March 27, 2024 (GLOBE NEWSWIRE) -- Applied Systems® today announced that Mackoul Risk Solutions, LLC is leveraging Applied Pay to deliver easy online insured payment options.
To realize the benefit of creating customer choice while better managing cash flow, Mackoul Risk Solutions, LLC quickly implemented the digital payments solution within a single day without disrupting business operations.
Directly integrated into Applied Epic, Applied CSR24 and EZLynx Client Center, Applied Pay provides intuitive, branded checkout pages where policyholders can go to pay for premiums via credit/debit card or ACH bank transfer.
“Managing the pain of change is one of the biggest factors that keeps agencies from adopting new technology platforms,” said Chase Petrey, president of Applied Pay, Applied Systems.

JUSTPAID, AI-POWERED FINANCE STARTUP, ANNOUNCES NEW API FOR BUSINESS PAYMENTS

Retrieved on:

화요일, 4월 9, 2024

API, CPO, ID, ACH, Y Combinator, Documentation, AI, Pioneer Fund, Online shopping

The API provides a simple and secure way to save customer details, bank account information, and process both one-time and recurring payments.

Key Points:

The API provides a simple and secure way to save customer details, bank account information, and process both one-time and recurring payments.
Merchants can focus on their business while we handle the complexities of payment processing in the background.
"Our API allows developers to integrate payments directly into their applications, giving businesses a fast and seamless way to pay contractors, vendors and more.
You can access the JustPaid Financial co-pilot here and the payments API here .

Collective Unveils Collective Accounting, the First AI-powered Accounting Suite for Businesses-of-One

Retrieved on:

화요일, 3월 19, 2024

Financial management, Tax, ACH, SAN, DIY, AI, Small business, QuickBooks, Generation Z, Millennials

SAN FRANCISCO, March 19, 2024 (GLOBE NEWSWIRE) -- Collective today unveiled Collective Accounting , an AI-powered accounting suite that offers solopreneurs a superapp for all their back office operations.

Key Points:

SAN FRANCISCO, March 19, 2024 (GLOBE NEWSWIRE) -- Collective today unveiled Collective Accounting , an AI-powered accounting suite that offers solopreneurs a superapp for all their back office operations.
With today’s release, Collective has solidified itself as a third option, one that fuses human expertise with the efficiency of AI technology.
Collective is focused on giving solopreneurs financial superpowers, and new ones with every update to our platform.”
On the front end, Collective Accounting provides a suite of accounting tools that makes it easy to do business from a single platform.
On the back end, Collective Accounting uses Large Language Models (LLMs) to automate expense categorization, ensuring accounting and bookkeeping are error-free and deductions are properly captured to optimize tax savings.

Fintech Market Size Projected To Grow To $882 Billion By 2030 as Advanced Technologies & Services Expand

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화요일, 3월 19, 2024

These services are typically delivered over the cloud, allowing other companies to integrate and use financial technology capabilities without developing these technologies in-house.

Key Points:

These services are typically delivered over the cloud, allowing other companies to integrate and use financial technology capabilities without developing these technologies in-house.
A report from Fortune Business Insights projected that the fintech market size is projected to grow to USD 882.30 billion by 2030, exhibiting a CAGR of 17% during the forecast period (2023-2030).
Fortune Business Insights continued: “Moreover, the economic impact of the pandemic led to an increased demand for lending and credit services.
North America is leading the fintech market share globally with market value of USD 89.61 billion in 2022.

Insurance Unlimited of Louisiana Selects Applied Pay to Simplify Payment Processes

Retrieved on:

목요일, 3월 14, 2024

Insurance, ACH, Automation, Collection, Bank

Chicago, IL., March 14, 2024 (GLOBE NEWSWIRE) -- Applied Systems® today announced that Insurance Unlimited of Louisiana has adopted Applied Pay to simplify and speed up their premium collection process.

Key Points:

Chicago, IL., March 14, 2024 (GLOBE NEWSWIRE) -- Applied Systems® today announced that Insurance Unlimited of Louisiana has adopted Applied Pay to simplify and speed up their premium collection process.
“Our premium collection processes before Applied Pay were tedious and manual, requiring clients to pay by check or over the phone and our staff to manually enter the payment information into our management system,” said Paul Lanier, accounting manager, Insurance Unlimited of Louisiana.
Directly integrated into Applied Epic, Applied CSR24 and EZLynx Client Center, Applied Pay provides intuitive, branded checkout pages where policyholders can go to pay for premiums via credit/debit card or ACH bank transfer.
“Applied Pay allows Insurance Unlimited of Louisiana to enhance their customer’s experience with flexible, convenient payment options and simplified workflows to make staff more efficient.”
The Applied products and logos are trademarks of Applied Systems, Inc., registered in the U.S.

Bluevine Helps Small Businesses Quickly Unlock Growth With A Choice Of Three Business Checking Plans Designed To Maximize Earnings and Minimize Fees

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목요일, 4월 4, 2024

Bluevine , the all-in-one digital banking platform specifically designed for small businesses, today announced it will provide customers three different options for their Bluevine Business Checking account - so they can choose the plan that does the most to unlock additional growth for their business.

Key Points:

Bluevine , the all-in-one digital banking platform specifically designed for small businesses, today announced it will provide customers three different options for their Bluevine Business Checking account - so they can choose the plan that does the most to unlock additional growth for their business.
With Annual Percentage Yields (APYs) ranging from 2.0% to 4.25%, business owners can immediately maximize the returns on their business checking deposits.
Customers on the Premier and Plus plans can also enjoy discounted costs on most standard payment fees, and no monthly fees based on qualifying balances and combined monthly spending activity across Bluevine Business Debit Mastercard® and Bluevine Business Cashback Mastercard®1 credit card.
“Now, we’re bringing small businesses even more of the products, services, and overall benefits that traditional banks have long reserved for large corporations.

PortX and eXate Elevate Financial Data Security and Compliance with Strategic Partnership

Retrieved on:

수요일, 4월 3, 2024

This groundbreaking collaboration aims to bolster financial data security and regulatory compliance across the banking sector, with a special emphasis on enhancing data protection for financial institutions' increasingly complex data ecosystems.

Key Points:

This groundbreaking collaboration aims to bolster financial data security and regulatory compliance across the banking sector, with a special emphasis on enhancing data protection for financial institutions' increasingly complex data ecosystems.
Through this partnership, PortX will integrate eXate's Data Protection Platform into its robust IPaaS solution, offering financial institutions a powerful toolset for comprehensive data security and compliance management.
The eXate platform sits at the intersection of data privacy, data protection, data residency, and fine-grained access controls, protecting data at rest, data in motion, and data in use.
By enforcing data protection effectively, eXate ensures that financial institutions can maintain the highest standards of data security and compliance.