Fintech News

FEBRUARY 2, 2025

The bank immediately noticed a positive impact on its operational efficiency, Thanks to Way4, we got rid of a lot of unnecessary duplication, checks and business processes. In 4 months Tsesnabank migrated from BPC’s SmartVista to our Way4 card management platform.

Card Issuer 101

Card Issuer Issuers Multi-Currency Online and Mobile Banking 101

Clearly Payments

APRIL 17, 2025

In payments, it involves checking your internal recordssuch as your accounting or sales dataagainst records from other sources, like banks, payment processors , credit card companies, or financial institutions. What is Reconciliation? At its core, reconciliation is a comparison process. Why is Reconciliation Important?

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Reconciliation Payment Reconciliation Processors Payments 52

PYMNTS

FEBRUARY 21, 2017

And with paper checks as some of the most manual and least secure corporate payment technologies in use today, it could be a good place for blockchain disruption to start. Japan’s largest bank, Bank of Tokyo-Mitsubishi UFJ (MUFG), is reportedly testing blockchain technology to digitize the paper check, reports said Monday (Feb.

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Checks Blockchain Central Bank Duplicate 41

Stax

MAY 13, 2025

Key components of payment processing include: Merchant account – A special type of business account that temporarily holds funds from card transactions before they settle in your business checking account. That leads to fragmented data, inconsistent customer experiences, and duplicated efforts.

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Credit Cards Payment APIs and Integration Processors Process 88

PYMNTS

AUGUST 14, 2020

Companies could end up paying twice if workers mistakenly file invoices that have already been uploaded or fail to realize when vendors accidentally submit duplicate invoices. Legacy AP methods have lingered for years in the corporate space, with many businesses sending payments via paper check and manually processing received invoices.

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Process Duplicate Automation AI 106

The Fintech Times

DECEMBER 19, 2024

Santacroce added: “Manual processes are inherently slow and prone to errors, making it difficult to match invoices, track approvals, or identify duplicate payments creating exploitable gaps for fraudsters, who are now using GenAI.

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Automation AI Fraud Prevention Deepfake 59

Nanonets

APRIL 7, 2023

Some of the common treasury management solutions used during early-stage growth include: Liquidity solutions that combine checking and money market checking accounts, money market mutual funds, and managed fixed-income portfolios. Check Positive Pay to prevent fraudulent checks from being processed in the startup's account.

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Treasury Management Treasury Due Diligence Wire Transfer 98

Nanonets

JUNE 19, 2024

Before making payments to vendors, it's essential to check that the vendor bills the company the correct amount. Examine Vendor Invoices: It is critical to examine each vendor's invoice details and check for human-made errors. Check Bank Statements: Verify that all purchase transactions are authorized and processed correctly.

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Reconciliation Process Accounts Duplicate 52

Clearly Payments

AUGUST 6, 2024

Processing Errors: Making up 15% of chargebacks, these involve errors such as incorrect amounts or duplicate charges. Processing Errors: Errors in processing the transaction, such as incorrect amounts or duplicate charges.

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Disputes Visa Issuers Duplicate 105

Nanonets

NOVEMBER 16, 2023

They should align with the goods or services received and must not be duplicates of invoices that were already processed. With the invoice, original purchase order, and shipping receipts, they can cross-check the information to ensure its accuracy. When incoming invoices are sent to a business, the business must validate every invoice.

Accounts 52

Accounts Best Practices Duplicate Checks 52

Nanonets

MARCH 15, 2024

Tyical bottlenecks that are reported by accounting teams are activities like: Invoice coding General Ledger (GL) mapping Payment Details Verification (to check for fraud) Duplicate Detection There is a very clear underlying theme here - manual data entry and verification is what causes these tasks to be tedious and time-consuming.

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Automation AI Accounts Duplicate 59

PYMNTS

NOVEMBER 11, 2020

businesses in a recent survey reported receiving duplicate invoices, that’s just the tip of the manual and paper iceberg. Companies are able to increase transparency and create stronger capital management through mass payables platforms … which remove the need for manual processes and paper checks. A recent survey found that 74.2

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Automation Void Treasury Duplicate 87

FICO

NOVEMBER 22, 2021

Check twice before clicking on an SMS or email to confirm it is genuine. Google the person’s name and web copy, check for customer reviews, do a reverse image search to see if you find a duplicate site. Everyone likes to think they might have gotten lucky, but it pays to pause and check-in with your inner skeptic.

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Scams Online and Mobile Banking Identity Theft Credit Cards 98

Nanonets

SEPTEMBER 1, 2023

Typical bottlenecks that are reported by AP teams are activities like: Invoice coding General Ledger (GL) mapping Payment Details Verification (to check for fraud) Duplicate Detection There is a very clear underlying theme here - manual data entry and verification are what causes these tasks to be tedious and time-consuming.

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Automation AI Accounts Duplicate 52

Nanonets

JUNE 7, 2023

Tyical bottlenecks that are reported by AP teams are activities like: Invoice coding General Ledger (GL) mapping Payment Details Verification (to check for fraud) Duplicate Detection There is a very clear underlying theme here - manual data entry and verification is what causes these tasks to be tedious and time-consuming.

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Automation AI Accounts Duplicate 52

Nanonets

JUNE 7, 2023

It might be as serious as wrong payment details and invoice fraud, or it might be as simple as a duplicate invoice. AI that detects duplicates/wrong information - Basic file duplicate checks verify only if the two files are the same. Without a doubt, these problems are best prevented before they happen.

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AI Accounts Duplicate Automation 52

Nanonets

JANUARY 14, 2024

The two ledgers generally don’t match due to factors such as bank fees, interest, outstanding checks, and deposits in transit. Outstanding Checks - Checks issued to vendors might not be submitted but accounted for in the ledger. The lower cashbook balance is attributed to outstanding checks.

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Reconciliation Adjustments Checks Duplicate 52

PYMNTS

SEPTEMBER 21, 2018

“A typical real estate customer will have multiple banking relationships, hundreds of checking accounts, multiple integration packages and they want to provide multiple payment types to suppliers.” Plus, the security associated with virtual cards far surpasses that of paper checks. That’s really extraordinary.”

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Checks Payments Commercial Card Master Account 53

PYMNTS

FEBRUARY 22, 2019

20), it was reported that MUFG was testing blockchain technology to digitize the paper check. The project is to digitalize entire check processing — from issuing checks to clearing checks,” said MUFG Asian Systems Office General Manager Hirofumi Aihara. On Wednesday (Feb.

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OCC AML Office of the Comptroller of the Currency BSA 43

Evolve Payment

OCTOBER 22, 2024

Fraudsters use everyday individuals’ information, frequently scraped from social media profiles or publicly available data like secretary of state filings, to create realistic duplicates of their identities. This is because a deep web of security checks is much harder for a fraudster to break through than just one isolated technique.

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Deepfake Verification Fraud Detection AI 98

Nanonets

JANUARY 25, 2024

Download them in CSV format and paste them into individual Excel sheets.Also, find all the outstanding checks, deposits, and any pending transactions. The bank statements must be adjusted by adding pending deposits (deposit-in-transit) and deducting pending outgoing checks (outstanding checks).

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Reconciliation Adjustments Checks Automation 52

Nanonets

FEBRUARY 19, 2024

Check out Nanonets Reconciliation where you can easily integrate Nanonets with your existing tools to instantly match your books and identify discrepancies. These scenarios include: Transactions Pending Clearance : QuickBooks Online's bank feed feature aids in automating transaction checks during reconciliation.

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Reconciliation Duplicate Adjustments Transactions 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.

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Reconciliation Process Accounts Duplicate 52

PYMNTS

JANUARY 10, 2019

For that reason, DadeSystems has multiple read replicas that are duplicates of the production database made in real time. In addition, the company can add customers to its platform without having to worry about adding more servers. However, FinTech startups can still face challenges with scaling their databases.

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On-Demand FinTech Database Duplicate 77

Nanonets

APRIL 24, 2025

Document import The system checks for new files every hour Each case can contain 2000-10,000 pages of medical records Files are readied for secured processing through our platform Note: This automated monitoring ensures consistent processing times and helps maintain the 24-hour turnaround requirement.

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Underwriting Automation Process Volume 52

Payment Savvy

MAY 12, 2023

Payment automation can reduce the cost of paper checks, postage, and other expenses associated with manual payment processing. Common Issues with Manual Payment Processing Manual payment processing can be time-consuming and prone to errors, resulting in duplicate payments, overpayments, and late payments. Cost savings.

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Automation ACH Payments Duplicate 52

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. AP automation systems flag exceptions and duplicate invoices to avoid payment errors. 

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Best Practices Accounts Automation Electronic Funds Transfer (EFT) 52

PYMNTS

DECEMBER 31, 2019

Paper-based payment methods such as checks and cash are awkward and cumbersome in either business-to-business (B2B) or business-to-consumer (B2C) transactions. Duplicate payments negatively affect cash flows and create new challenges when firms work to recover payments, and this lack of control can leave AP departments vulnerable to fraud.

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Process Innovation Same Day ACH B2B 61

Nanonets

MAY 10, 2023

By 3 way matching supporting documents, companies can detect duplicate, erroneous, or fraudulent payments to vendors. Here are some common checks carried out on each of the documents that are part of the 3 way matching process: Was the PO filled out correctly? The receiving department also checks damage and quality at this stage.

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Accounts Automation Duplicate Process 52

Nanonets

MARCH 22, 2023

By running proper checks & validations, they can identify errors in invoices and prevent wrong payments. Issues with duplication Many account payable outsourcing companies charge on a per-invoice basis. Hence, if your business shares duplicate invoices, you are going to have to pay for that too.

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Accounts Duplicate Automation Privacy 52

PYMNTS

JANUARY 4, 2018

Capital One, however, said that customers should check their accounts for updates and that they would not be responsible for any erroneous transactions. In a series of anecdotes, the Washington Post noted that users of Twitter posted they’d seen multiple charges tied to their checking accounts.

Accounts 41

Accounts Online and Mobile Banking Debit Card Duplicate 41

The Fintech Times

AUGUST 3, 2024

Helen Slater , regulatory manager at FE fundinfo “We all know that regulatory creep and duplication are pretty much inevitable when rules are designed to be overarching and cover such a wide range of firms, products and consumers.

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Consumer Rules Duplicate Regulations 59

Nanonets

JANUARY 25, 2024

This would require aggregating data from multiple financial sources, extracting relevant data from documents, matching data across different sources, and fraud checks. Identifying error & fraud-check - Setup flags to identify any kind of irregular transactions, duplicates, or unauthorized transactions.

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Reconciliation Credit Cards Automation Duplicate 52

Green.Money

JULY 18, 2019

In one of my articles, I discuss the need to duplicate yourself. Lonnie Passoff Founder and President Green Payment Processing www.Green.Money About the Author: Lonnie Passoff started the first-ever internet-only electronic check processing firm in 2008. It has grown to be the largest e-check processor on the planet.

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Duplicate Advisors Checks Processors 52

Nanonets

JANUARY 29, 2024

Duplicate Payments: Search in your cleared transactions if you can find a very similar record. This would require aggregating data from the bank, QBO, or other tools, extracting relevant data from them, matching data across different sources, and performing fraud checks. You can search based on the payee and amount.

Reconciliation 52

Reconciliation Credit Cards Duplicate Automation 52

EBizCharge

MARCH 20, 2025

Automatic data syncing also reduces duplication and AR errors. Check transaction processing: Send test payments to verify that transactions are successfully processed and recorded in Sage. Real-time financial insights: Seamless integration with up-to-date financial data can improve reporting accuracy and enhance decision-making.

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Payment Gateways Gateways Payment APIs and Integration Payments 52

Nanonets

JANUARY 28, 2024

Outstanding Payments & Deposits Due to banking delays, outstanding checks and deposits-in-transit aren’t recorded in the bank statement or can be recorded after the closing date. Identifying error & fraud-check - Setup flags to identify any irregular transactions, duplicates, or unauthorized transactions.

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Reconciliation Automation Fraud Detection Duplicate 52