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The stakes are high for businesses of all sizes, and the latest data on corporates in America makes that abundantly clear. Smallbusinesses are anxious, and there is evidence that large corporates’ cash management and investment strategies are also being shaped by political uncertainty. We share all the details below.
. “Payments fraud and business email compromise, in particular, have been thorns in financial professionals’ sides for years, but this recent surge is especially concerning,” said Jim Kaitz , president and CEO of AFP, in a statement.
The 2008 global financial crisis forced traditional banks to pull back from smallbusinesses (SMBs) considered too risky and unprofitable to finance, leaving a gap in the market for alternative lenders and FinTech firms to fill. The bank-FinTech collaboration trend has hit the smallbusiness customer segment particularly strong.
Fear is holding back smallbusinesses from trading internationally, according to a report from HSBC late last year. Specifically, a lack of international business knowledge and experience has small suppliers reluctant to step onto the global stage. Data is critical to linking smallbusinesses with new funding.
According to the AFP, 71 percent of businesses have experienced actual or attempted check fraud. These technologies ultimately enable a business to process a paper check payment faster — which, especially for SMEs, is critical. All of these things are important to smallbusinesses in particular,” Ballagh said.
corporates accelerated their cash collection in the third quarter compared to the previous quarter, the AFP said in an announcement on Monday (Oct. “Interest rates are rising, and the Federal Reserve has made it clear they will continue to rise for some time,” said AFP President and CEO Jim Kaitz in a statement.
The Association for Financial Professionals ( AFP ) found that although automated clearing house transactions are generally regarded by CFO.com to be relatively “safer” than other types of transactions — say, paper checks — fraud involving ACH is on the rise.
Instead, taking a look at the latest solutions to emerge on the market shows various applications for speed in commercial transactions, from faster deposits for smallbusinesses, to virtual cards enabling faster invoice payments for suppliers. Chase Accelerates SMB Bank Deposits. Treasurers See Faster Payments Benefits.
That’s the status quo in corporate payments, and it’s not only creating friction for the business payer; it’s creating headaches for smallbusiness (SMB) accounting too. He recently told PYMNTS that smallbusiness accountants are much like their clients in the way they make and receive payments.
The firm’s Business Growth Pulse survey concluded that, while many companies prioritize growth, only 7 percent of smallbusinesses (with fewer than 100 employees) actually expect that growth to occur.
. “While adoption for consumer accounts is enhanced through regulatory drivers, adoption for business accounts is based on market interest,” she stated in her presentation at the Association for Financial Professionals’ AFP 2019 event. Open Banking Targets Corporates. Banks, FinTechs Team Up.
Smallbusinesses turn to automated solutions like virtual cards because they tend to be big users of corporate cards. . Bottomline Technologies’ recent AFP survey found that 45 percent of AP professionals see integration as the biggest challenge to the adoption of payment and banking innovations.
The service is designed to shrink transaction times from days to seconds, and some expect it will brighten business prospects when it does become more widespread. A 2016 survey by the Association for Financial Professionals (AFP) reports 62 percent of respondents anticipated faster payments would have a somewhat or extremely positive impact.
More recently, the Association for Financial Professionals’ (AFP) 2017 Risk Survey found nearly half of businesses say their exposure to uncertainty is higher than it was three years ago, and 51 percent say forecasting risks will be more difficult three years from now than it is today. “The Payment Shifts.
In what has become a highly cited statistic from the Association for Financial Professionals (AFP), there was actually 1 percent increase in the use of paper checks for B2B payments between 2013 and 2016. And the way the world of B2B payments works today is very often with paper checks.
When operating a smallbusiness, “up” is typically a positive direction. But often, stats going up — like inflation, the Federal Interest Rate, and corporate payment fraud levels — threaten the growth of smallbusinesses. percent increase in business expenses, said Barclays. Smallbusiness borrowing.
Related: The Top 14 Cybersecurity Conferences in 2025 The 50 Largest Corporate Client/User Events in Financial Services Technology in 2025 Top 6 High-Rate Online Digital Bank Savings & Treasury Accounts for SmallBusinesses (SMB) Feb 2025 You can easily save $1,000 or more on a pair of tickets.
Note: FintechLabs curates the financial technology event list based on our 20+ years in the business. You can easily save $1,000 or more on a pair of tickets. Some events pay referral or listing fees, which could impact positioning.
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