The Forgotten Payee Risk: Why Old Beneficiary Lists Could Be a Hidden Door for Payment Fraud

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Payment

Adding a trusted supplier or service provider to a beneficiary list can make future payments faster. Once the details have been approved, employees may assume that any payment sent to that account carries less risk. The problem is that beneficiary lists rarely remain accurate forever. Suppliers change banks, commercial relationships end and employees leave, yet […]

Payment Orchestration Explained: When Does a Growing Business Actually Need It?

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Payment

Businesses rarely begin with a complicated payment infrastructure. A single provider, one settlement account and a limited number of payment methods may be sufficient when transaction volumes are still manageable. However, growth changes the picture. The business may enter new markets, accept additional currencies and connect with several banks, payment service providers or alternative payment […]

How Multi-User Payment Approvals and Role-Based Controls Reduce Internal Financial Risk

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Payment

Managing business payments becomes more complicated as a company adds employees, departments, and suppliers. While one person may initially handle every transaction, that arrangement can create unnecessary risk once the number and value of payments increase. Although employees need enough access to perform their responsibilities, they should not automatically receive complete control over the company’s […]