Finextra

AUGUST 4, 2025

Globally, fintechs and banks spend an estimated $206 billion per year on financial crime compliance. Many teams are still drowning in manual reviews, spreadsheet reconciliation, and swivel-chair workflows between disparate tools. with little integration. What do these inefficiencies look like in practice?

AML

Nanonets

FEBRUARY 19, 2024

Introduction Diving into the world of accounting, reconciling accounts becomes a routine yet crucial task, especially when bank or credit card statements roll in. After meticulous adjustments, achieving that zero balance feels like a triumph, marking the completion of your reconciliation process in QuickBooks Online.

Reconciliation

Nanonets

MAY 7, 2024

Expense reconciliation is the process through which businesses track expenditures, identify anomalies, adhere to regulatory requirements, and maintain financial accuracy and integrity. What is Expense Reconciliation?

Reconciliation

Nanonets

APRIL 2, 2024

Importance of bank reconciliation in internal control In the world of finance and accounting, accuracy is key. Bank reconciliation is a fundamental process that ensures the alignment of internal records with external bank statements. What Is a Bank Reconciliation?

Reconciliation

Nanonets

MAY 21, 2024

Accounts receivable reconciliation is a crucial process within accounting and financial management practices undertaken regularly by a business. What is Accounts Receivable Reconciliation? This involves cross-referencing various sources of information, such as invoices, sales receipts, customer payments, and ageing reports.

Reconciliation

Nanonets

APRIL 29, 2024

The Top Credit Card Reconciliation Softwares in 2024 Credit card reconciliation is a crucial aspect of financial management for businesses of all sizes. What is Credit Card Reconciliation? This may include invoices, receipts, purchase orders, or other documentation related to the transactions.

Reconciliation

Nanonets

JULY 21, 2023

To ensure the integrity of financial data, accountants and bookkeepers rely on the general ledger account reconciliation process. This process involves comparing general ledger accounts with supporting documents using reconciliation software to identify discrepancies and take corrective measures. What is reconciliation software?

Reconciliation

The Payments Association

MAY 16, 2025

Non-compliance could lead to regulatory enforcement by national authorities, as well as reputational harm and potential exclusion from EU markets. Merchants will need to ensure PSPs and platforms are authorised to handle regulated stablecoins and that cash flow and reconciliation processes can accommodate digital assets.

Regulations

FloQast

JANUARY 22, 2024

Bank statements can be automatically matched against the cash ledger, leaving only the exceptions to be investigated by staff. From financial statement analysis to bank reconciliations, the range of functions you can automate is diverse. What Financial Reporting Functions Can You Automate?

Automation

Nanonets

MARCH 4, 2024

Fraudulent Claims Intentional Misreporting Submission of non-business-related expenses as business expenses. Duplicate Claims Employees submitting the same expense for reimbursement more than once. Non-compliance with IRS or International Guidelines Misclassification of expenses can lead to tax compliance issues.

Process

Nanonets

MARCH 20, 2023

Some common features of AP software include: customizable AP workflows invoice categorization and batch processing of invoices automated approval processes 2, 3, or 4 way matching seamless expense claims custom user permissions providing AP metrics such as AP days , average invoice processing time etc. Looking to automate your manual AP Processes?

Accounts

Nanonets

APRIL 24, 2023

PDF → Excel Convert PDF bank statements to Excel  Try for Free A bank extract is data extracted from bank statements or other financial documents. While bank extracts were obtained manually in the past, most companies are resorting to software to automate this tedious process.

Assessments

Nanonets

MAY 30, 2023

 The World Bank reports that two-thirds of adults worldwide make or receive a digital payment today, with the share in developing economies growing from 35% in 2014 to 57% in 2021.  Bank transfers and digital wallets are more recent developments that have leveraged the rapid expansion in digital data and interconnectivity.

Payment APIs and Integration

Nanonets

JUNE 29, 2023

By automating critical tasks such as data extraction, validation, reconciliation, and compliance monitoring, Flow enables businesses to focus on strategic decision-making and enhance overall financial performance. Complex approval workflows, duplicate alerts and fraud detection Payment and reconciliation that works like magic.

Payment APIs and Integration

EBizCharge

MAY 20, 2024

When a customer initiates a credit card transaction, the gateway securely transmits the payment information from the point-of-sale (POS) terminal to the relevant parties, such as payment processors and banks, for authentication and approval. These solutions can be categorized as certified and non-certified solutions.

Process

Nanonets

JULY 14, 2024

Automate invoice approvals , invoice review, invoice payment reconciliation , and invoice payments with automated workflows. Automate manual, time-consuming tasks such as GL coding, approvals, vendor notifications, duplicate invoices, and more with no-code workflow automation.

Automation

Nanonets

APRIL 16, 2023

Verify bank accounts Automate approvals Instant vendor notifications Check against blacklists OCR and Machine Learning AI & OCR Technology in AP Automation At the start of the invoice management cycle, documents must be scanned so the data can be captured and entered into the system. No more stitching together spreadsheets or reports.

Automation

Nanonets

FEBRUARY 1, 2024

Reconciliation: Labor-intensive process of matching bank transactions with ledger entries. Mastering Finances with Automatic Reconciliation Finally, let’s talk about closing the books. Quick integration with existing systems, maintained by non-technical staff. What once took days can now be done in minutes.

Automation

Nanonets

NOVEMBER 15, 2023

Additionally, the invoices must be matched with the corresponding purchase orders and goods receipts to avoid duplicate invoices, fraud, and errors. Cheques, money orders, bank drafts — you name it. It can integrate with your existing bank or payment processor to facilitate smooth and secure payments.

Accounts

Nanonets

AUGUST 21, 2023

The software creates payment files for various payment methods like ACH, virtual cards, and checks and sends them to the bank or payment processor. Payment reconciliation Once the payments have been executed, the automation software will then reconcile them.

B2B

Nanonets

FEBRUARY 26, 2024

Reconciliation: Labor-intensive process of matching bank transactions with ledger entries. Improved Accuracy : AP automation minimizes human errors such as duplicate payments and incorrect data entry, thereby enhancing the accuracy of financial records and reporting. Automate Reconciliation Processes: Action Steps: 1.

Automation

Nanonets

JANUARY 17, 2024

InnovateX noted a cultural shift with employees became more mindful of their spending, leading to a reduction in non-essential expenses, like excessive business lunches. Key Elements of an Effective Policy Every effective expense policy should have certain non-negotiable elements: Clear Definitions : What constitutes an 'expense'?

Payment APIs and Integration

Nanonets

DECEMBER 11, 2023

Using AI, every transaction is kept secure through duplication detection, fraud prevention, and payment tracking features. Key Features With automated three-way matching, instant account reconciliation, and global payment support, Tipalti is a front-runner amongst other invoice processing solutions.

Process

Nanonets

AUGUST 8, 2023

It lets them focus on their core competencies while outsourcing non-core functions to an external service provider. Back-Office processes: You can utilize Robotic Process Automation (RPA) to automate repetitive tasks in back-office processes, such as data validation, data reconciliation, and invoice processing.

Automation

Nanonets

SEPTEMBER 1, 2024

Here are our two best picks: Dext Prepare Receipt App Dext Prepare (formerly known as Receipt Bank) is a robust receipt scanner app that simplifies bookkeeping with advanced features including receipt scanning, expenditure reporting, and analytics. Its mobile app lets you scan bills, invoices, and bank statements.

Online and Mobile Banking

Nanonets

NOVEMBER 5, 2024

DocuClipper is an OCR-powered financial document processing tool that converts bank statements, credit card statements, invoices, receipts, and brokerage statements into Excel, CSV, or accounting software-ready formats. Converts bank statements from PDF to QBO, QFX, OFX, and CSV formats 2. Key features: 1.

Process

EBizCharge

MARCH 21, 2025

Accounting practices include preparing financial statements, reconciling bank statements, and managing accounts receivable (AR) and payable (AP). This includes data entry, invoice processing, bank reconciliations, and payroll management, which can be completed seamlessly with AI-driven software.

AI