The Fintech Times

FEBRUARY 14, 2024

Easier monitoring: Automated systems maintain an audit trail for all transactions, facilitating process monitoring and compliance with audits. Duplicate and fraudulent invoice detection : AI engines can identify potential duplicate invoices or invoices with unusual amounts and flag them for review.

Automation 103

Automation Process Duplicate Compliance 103

FloQast

JANUARY 17, 2024

The consultation set out proposals for a range of legislative and governance reforms to be implemented in the Code in 2024, including the introduction of a new regulatory body, known as the Audit, Reporting, and Governance Authority (ARGA), which would replace the FRC. What is the UK’s Corporate Governance Code?

Governance 102

Governance Government AAP Audit 102

EBizCharge

JULY 7, 2025

While they all aim to recoup payment processing costs, they work differently, and the compliance requirements aren’t interchangeable. Choosing the wrong approach—or applying it incorrectly—can lead to unhappy customers or even non-compliance penalties. Compliance with Visa/Mastercard and state-level rules. The result?

B2B 52

B2B Credit Cards Processing Costs Rules 52

Fintech Finance

MAY 1, 2025

Unlike generic large language models or probabilistic AI tools, the AI Agent is auditable by design and delivers verifiable, rapid results built on existing connectivity and a deep understanding of how enterprise payment systems and workflows work. Notify me if any duplicate payments are charged.

Treasury 59

Treasury AI Duplicate Payments 59

Nanonets

APRIL 24, 2024

Audit Bank Reconciliation Guide  Both internal and external accounting audits are essential parts of financial management as well as organizational risk management. A bank reconciliation audit is one such process that helps in identifying financial gaps or discrepancies. Looking out for a Reconciliation Software?

Reconciliation 52

Reconciliation Audit Procedures Correspondent 52

Nanonets

AUGUST 1, 2023

In the rapidly evolving world of auditing, innovative technologies have revolutionized traditional practices. Auditors are now increasingly embracing the agile auditing approach previously used in software development. This strategic allocation of resources optimizes auditing efforts, leading to more focused and effective audits.

Audit 52

Audit Risk Assessment AI Assessments 52

FloQast

NOVEMBER 28, 2023

Recently, FloQast published an e-book on how technology can improve audit efficiency based on Ashley’s first-hand experience. Specifically, this can cover: Posting revenue to appropriate income accounts upon shipment ( 606 compliance! Most audit firms are now working with various analytical or data evaluation tools.

Audit 59

Audit Process Technology Reconciliation 59

FloQast

OCTOBER 27, 2023

While it can feel burdensome, compliance management has become a critical risk management feature and is too important to ignore. Unfortunately, compliance management is no walk in the park. The overarching aim of compliance management is to ensure organizations mitigate risk and build a deep-rooted culture of compliance.

Compliance 52

Compliance Best Practices Mitigation Procedures 52

The Payments Association

MARCH 25, 2025

Keeping up with payment network compliance is getting harder and harder. Payment network compliance teams are under more pressure than ever, and a surge in bulletin publications contributes to this increasing difficulty. However, the cost of payment network compliance goes beyond fees and fines. million in 2024, respectively.

Compliance 88

Compliance Payment Networks Issuers Best Practices 88

Nanonets

AUGUST 1, 2023

Over the years, the auditing landscape has undergone remarkable transformations, and among the most significant advancements has been the advent of audit automation software solutions. Computer-Assisted Audit Tools and Techniques (CAATTs) have been available to auditors since the early 1990s. The situation has changed now.

Audit 40

Audit Automation Risk Assessment Payment APIs and Integration 40

Stax

MAY 13, 2025

Pros: Simple on the surface Often pitched as a competitive rate to lure in small businesses Cons: Opaque and difficult to audit Hidden fees and arbitrary categorization Often more expensive over time Subscription Subscription pricing uses the interchange plus model, but instead of marking up each transaction, you pay a flat monthly fee.

Credit Cards 88

Credit Cards Payment APIs and Integration Processors Online and Mobile Banking 88

Trade Credit & Liquidity Management

MAY 8, 2025

They must ensure data accuracy across the systems that drive billing, collections, compliance, and reporting. Duplicate entries: Different users create slightly different customer records. In today’s risk-heavy business climate, Controllers are expected to do more than close the books. Customer master data. Collections slow down.

Finance 72

Finance Duplicate CRM Audit 72

Stax

MARCH 4, 2025

Also, check for compliance with PCI requirements, which protect cardholder data and implement robust access control measures. Without proper payment synchronization, you risk mismatched inventory levels, duplicate transactions, missing payments, and accounting discrepancies. You might have to integrate via API keys or plugins.

Credit Cards 88

Credit Cards Payment APIs and Integration Payment Gateways Gateways 88

PYMNTS

MARCH 28, 2019

Automated expense report auditing company AppZen is introducing a new spend auditing platform to analyze supplier invoices using artificial intelligence (AI). “The major takeaway from this data is not that employees in certain industries commit more fraud,” AppZen noted at the time. ”

AI 46

AI Audit Agreements Duplicate 46

The Payments Association

MAY 16, 2025

These developments will impact merchant compliance, cost structures, customer experience, and operational risk. Each section includes an overview of the regulation, the legal and operational risks involved, and the practical actions required to support readiness and ongoing compliance. Why is it important? What’s next?

Regulations 88

Regulations ISO 20022 Cross-Border Legal 88

EBizCharge

APRIL 22, 2025

PCI compliance and security Integrated payment gateways typically come with built-in security features such as full compliance with Payment Card Industry Data Security Standards (PCI DSS) , tokenization, and encrypted data transmission.

Payment APIs and Integration 52

Payment APIs and Integration Payment Gateways Gateways Payments 52

Nanonets

APRIL 3, 2024

Fraud Detection and Prevention: Through vendor reconciliation, businesses can detect discrepancies that may indicate fraudulent activities such as overbilling, duplicate invoices, or fictitious vendors. Any discrepancies, such as duplicate payments or missing entries, must be identified.

Reconciliation 52

Reconciliation Process Accounts Duplicate 52

PYMNTS

NOVEMBER 10, 2017

Especially for businesses that rely on manual expense reports, management and auditing processes, an employee that fudges a dollar amount here and there, or a worker who accidentally submits an expense report twice, mean companies can easily fall victim to fraud, both intentional and unintentional.

Duplicate 44

Duplicate Audit Email Compromise Use Case 44

Nanonets

JUNE 22, 2023

By matching invoices with accounting entries in the general ledger, businesses can identify and rectify duplicate entries, errors, or extra payouts, keeping their books in proper balance. Compliance and audit readiness Reconciled invoices provide a solid foundation for compliance with regulatory requirements and internal audits.

Reconciliation 52

Reconciliation Audit Automation Correspondent 52

Nanonets

MARCH 4, 2024

An optimized reimbursement process also enables companies to leverage tax deductions and credits accurately, ensuring financial health and compliance. Duplicate Claims Employees submitting the same expense for reimbursement more than once. Acknowledging and rewarding compliance through internal newsletters and meetings.

Process 52

Process Compliance Audit Automation 52

Nanonets

APRIL 12, 2023

The primary objective of spend management is to maximize the value of every dollar spent while minimizing risks and ensuring compliance with regulations and policies. In this step, organizations validate and clean the data, removing any discrepancies, duplicates, or errors. Why is spend management important?

Duplicate 52

Duplicate Compliance Automation Process 52

Nanonets

MAY 6, 2024

This results in scattered files, versioning issues, the need to track down stakeholders for missing information, the generation of duplicate datasets, and more.   BlackLine also provides configurable dashboards and reports that offer insights into reconciliation status, performance metrics, and audit trails.

Reconciliation 52

Reconciliation Accounts Audit Automation 52

Nanonets

SEPTEMBER 25, 2024

  Bank statement processing is essential for accurate reconciliation , auditing, and financial reporting. Maintain an efficient audit trail for future retrieval. Set up rule-based workflows to identify and remove any duplicate entries and human review for complex or ambiguous transactions.

Process 52

Process AI Best Practices Reconciliation 52

Nanonets

JUNE 19, 2024

By doing so, they can maintain good vendor relationships, detect fraud, and support audit trails.   Errors in logging payments correctly, duplicates, or missing entries may lead to incorrect reporting. Elimination of Duplicate Payments The risk of duplicate payments is a constant concern in manual reconciliation.

Reconciliation 52

Reconciliation Process Accounts Duplicate 52

FloQast

JANUARY 22, 2025

As a result, CFOs and their teams are under serious pressure to meet these challenges and modernize their accounting departments without sacrificing efficiency, accuracy, and compliance. Furthermore, minimizing audit findings should be a top priority. Heres how you can do so.

Accounts 52

Accounts AI Automation Audit 52

Nanonets

JUNE 21, 2023

This process helps identify any missing or unmatched payments, duplicate transactions, or other errors that may impact the financial records. It ensures accuracy, financial integrity, fraud detection, compliance, efficient cash flow management, and informed decision-making. Why is payment reconciliation crucial for businesses?

Payment Reconciliation 52

Payment Reconciliation Reconciliation Best Practices Automation 52

Nanonets

MAY 29, 2024

These PO systems are effective in automating purchases reducing errors controlling expenses saving time improving spending/ budget planning improving supplier relations ensuring compliance with documentation for audits How does a PO system work? This reduces the risk of errors, such as duplicate orders or incorrect quantities.

Small Business 52

Small Business Audit Automation Disputes 52

Nanonets

APRIL 2, 2024

Updating Internal Records and Bank Statement: Ensuring internal records align with the reconciled figures, facilitating accurate financial reporting, audit compliance, cash flow management, and fraud detection.   This can include anything from missing or duplicate transactions to unauthorized charges or fraudulent activity.

Reconciliation 52

Reconciliation Adjustments Automation Regulatory Compliance 52

Nanonets

AUGUST 10, 2023

Think about it: faster reimbursements, accurate financial records, and easier compliance with company and tax laws. Reduces inaccuracies: Invalid data, duplicate entries, and fraudulent claims are flagged automatically and can be dealt with immediately. This ensures all claims are compliant, reducing the risk of audits and penalties.

Automation 52

Automation Process Compliance IRS 52

Nanonets

FEBRUARY 13, 2024

Let’s get started and discover how to keep your company’s spending streamlined, ensure team compliance, and maybe even snag some savings along the way. Promoting Compliance Culture: Cultivate a company culture that values adherence to the expense policy. Recognizing compliance efforts can also encourage adherence.

Compliance 52

Compliance Non-Bank Automation Duplicate 52

Nanonets

MAY 7, 2024

By comparing these records, businesses can identify any discrepancies, such as missing or duplicate transactions, incorrect or false amounts, or any unauthorised expenses and transactions. This process is essential for maintaining financial accuracy, compliance with regulations, and preventing fraud or errors.

Reconciliation 52

Reconciliation Best Practices Credit Cards Compliance 52

Nanonets

NOVEMBER 14, 2023

Reduced Errors: Manual data entry is error-prone, leading to inaccuracies in reports due to incomplete data, missing/correct material, and duplicates. Auditing & Tax Compliance: Facilitates VAT compliance audits, utilizing deep learning algorithms for automated document checks.

Automation 52

Automation Facilitators Audit Legal 52

Nanonets

AUGUST 21, 2023

And the benefits are not limited to cost savings, accuracy, and efficiency — B2B payment automation can also improve supplier relationships, ensure compliance, avoid fines and penalties, and provide critical insights into cash flow and financial health.   With the right B2B payment automation software, it's not.

B2B 52

B2B Automation Payment APIs and Integration Payments 52

FICO

APRIL 3, 2019

Most of the issues with procure-to-pay compliance arise because many staff reviewing transactions are more focused on completing their review than on the quality of the review. This can result in improper transactions slipping through, which has the potential to expose the organization to risk, bad audit findings and reputational damage.

Risk 45

Risk Audit Rules Volume 45

Nanonets

NOVEMBER 30, 2023

  For accounts payable internal controls best practices, strong internal controls should use technology-based systems to detect and flag possible errors, including duplicate invoices, and prevent potential fraud. An AP automation solution provides an audit trail and digitizes transactions.

Best Practices 52

Best Practices Accounts Electronic Funds Transfer (EFT) Automation 52

Nanonets

APRIL 29, 2024

This documentation serves as an audit trail and supports accurate financial reporting. Fortunately, there exist softwares and solutions that help companies efficiently perform intercompany reconciliation while maintaining transparency and compliance through their financial reporting processes.

Reconciliation 52

Reconciliation Audit Automation Transactions 52

Nanonets

JULY 21, 2023

In addition to accelerating the reconciliation process, reconciliation software also enables an audit trail, significantly improving transparency and accountability. Once approved, the reconciled data is securely stored in a centralized database, ensuring an auditable trail.

Reconciliation 52

Reconciliation Payment APIs and Integration Automation Online and Mobile Banking 52