Neopay

JANUARY 25, 2024

It also introduced new provisions in Article 19b to Directive (EU) 2015/849, mandating the EBA to clarify the due diligence requirements CASPs should apply in high ML/TF risk situations, and when entering into correspondent relationships with respondents that are CASPs from non-EU countries.

Service Provider

Global Fintech & Digital Assets

DECEMBER 11, 2023

Covered financial institutions now face heightened expectations in relation to cybersecurity governance, risk assessment, and incident reporting. Risk assessments should also be reviewed whenever a new business model is adopted or a new product is introduced.

Cybersecurity

EBizCharge

JUNE 25, 2024

Financial accuracy also saves business owners from errors during tax season or when assessing the financial viability of new projects or investments. Implement a standardized procedure to streamline reconciliation Implementing a standardized procedure can enhance and accelerate your invoice reconciliation.

Reconciliation

PYMNTS

NOVEMBER 4, 2019

Modern AR tools can alleviate those administrative burdens while providing faster, more secure collections procedures. Customers may dispute invoices or argue that they were promised deductions, and workers facing such situations must assess those claims’ validity. Virtual Terminals and AI .

Automation

PYMNTS

AUGUST 4, 2016

It’s bringing a new level of accuracy and insight into a business’ financial health, and they’re certainly benefiting from faster and smarter assessment procedures.” . “This is transforming the credit risk analysis process. That’s because bank underwriting processes are outdated, Rabie said.

Small Business

Nanonets

APRIL 4, 2023

Put simply, mailroom automation is the process of automating incoming mail (both physical and digital) and other correspondence by transforming it into structured business data that is then sent to the relevant individuals or fed into processes and systems within your organization. What is mailroom automation? G2 Score: 4.3/5

Automation

The Payments Association

OCTOBER 11, 2024

These audits will assess whether the firm’s systems and controls are adequate to prevent safeguarding failures, which is essential for reducing risks to consumer funds and building trust within the payment sector. Gladius Assurance Principal Dennis Cheng tells Payments Intelligence that this presents an opportunity to “systemise”.

Due Diligence

Seon

MAY 10, 2024

Anti-money laundering (AML) initiatives involve laws, regulations and procedures aimed at preventing criminals from masking illegally obtained funds as legitimate income. A component of CDD beyond identification and verification, Know Your Customer (KYC) checks and assesses a client’s potential risks for illegal intentions.

AML

Nanonets

MAY 7, 2024

This method is painstaking and involves matching each expense entry with the corresponding documentation—bills, invoices, purchase orders, cheques, bank statements and the likes—to identify discrepancies and errors. This process helps identify discrepancies such as missing transactions, bank errors, or unauthorised withdrawals.

Reconciliation

PYMNTS

APRIL 1, 2020

Network providers are very aware of those procedures, though, and have been actively seeking to claim larger shares of both the payment routing market and resultant revenues through associated fees. Consumers’ funds are then sent to PIN debit network operators, which extract interchange fees and pass the rest to merchants’ banks.

Debit Card

EBizCharge

MAY 3, 2024

The formula looks like this: Average Accounts Receivable = (Beginning Accounts Receivable + Ending Accounts Receivable) / 2 It’s essential that the selected time frame for the beginning and ending accounts receivable corresponds to the period for which you want to calculate the average collection period.

Accounts

EBizCharge

JUNE 24, 2024

Communication costs Businesses may incur communication-related costs in delivering services, such as international phone calls, specialized communication apps, or postage for client correspondence. Moreover, proper categorization of expenses helps forecast budgets and assess a business’s financial health.

Process

EBizCharge

MAY 13, 2024

Automated cash application systems utilize algorithms and data-matching techniques to match customer payments with the corresponding invoices in the accounting system. Regularly assess the performance of your automation initiatives, identify any issues or areas for optimization, and implement necessary adjustments or enhancements.

Automation

Nanonets

JULY 21, 2023

Step 2: Identify Reconciliation Items Review each account in the general ledger and identify the corresponding items that need to be reconciled. General ledger reconciliation provides reliable data, enabling management to analyze financial performance, assess profitability, and evaluate the financial health of the organization.

Reconciliation

Nanonets

MARCH 4, 2024

Assess the specific needs of your organization, considering factors like size, expense volume, and specific features required (e.g., This user-friendly approach improves the overall experience for employees, leading to higher satisfaction and compliance with expense reporting procedures.

AI

Payment Savvy

JULY 3, 2024

Businesses that learn the ins and outs of debit card processing can better accommodate their customers’ preferences and rationalize their financial procedures. Tokenization helps minimize the risk of data breaches, as even if a token is compromised, it holds no value without the corresponding debit card information.

Debit Card

Nanonets

AUGUST 21, 2023

It extracts vital data like invoice number, date, supplier name, and amount due and matches it with corresponding purchase orders and contracts. Assess your current payment processes From filing receipts to importing and consolidating data, figure out which aspects of your B2B payment processing are still manual.

B2B

Nanonets

SEPTEMBER 25, 2024

For instance, if the bank statement shows a $1,000 deposit on a specific date, it matches the corresponding entry in the accounting records. Regularly train staff on adjustment procedures to minimize errors. Reconciliation This step involves matching the extracted data with the company’s internal records.

Process

Nanonets

SEPTEMBER 21, 2023

  Accounting internal controls  refer to the procedures and systems implemented within an organization to safeguard its assets, maintain accurate financial records, and ensure compliance with laws and regulations. Invoices serve as vital evidence of the goods or services received and the corresponding payment obligations.

Audit

Nanonets

SEPTEMBER 5, 2023

Workflow automation minimizes these errors by enforcing consistent procedures and automating data handling, resulting in improved accuracy and reduced costly mistakes. Users should carefully assess their needs to choose the right plan. This automation reduces manual data entry, minimizes errors, and accelerates payment cycles.

Automation

Nanonets

APRIL 30, 2023

Implementing the necessary procedures to maintain records and promote accuracy within your payroll function relies on creating an effective payroll accounting system. This regulation requires that expenses be recorded in the same period as corresponding revenue. How do accounting methods impact payroll accounting?

Payroll

Nanonets

MARCH 21, 2023

Nanonets' solution is highly configurable, so businesses can set up rules and workflows that align with their specific procurement policies and procedures. This article aims to give a brief understanding of automated visual assessment and how a deep learning approach can save significant time and effort.

Automation

Nanonets

JANUARY 16, 2024

Workflow automation minimizes these errors by enforcing consistent procedures and automating data handling, resulting in improved accuracy and reduced costly mistakes. Users should carefully assess their needs to choose the right plan. This automation reduces manual data entry, minimizes errors, and accelerates payment cycles.

Automation

The Payments Association

MAY 19, 2025

This legislative shift is more than a procedural updateit represents a strategic turning point for the UKs approach to digital finance. It demands a reassessment of licensing, governance, risk management, and safeguarding procedures across all crypto-related operations. Determine whether existing permissions are sufficient.

Compliance