digital payments - FinTecBuzz

Fortis announced new developments in ongoing partnership with Sage

PRNewswire — Wed, 28 Aug 2024 14:30:01 +0000

Fortis, a payments technology leader for software providers, ERP customers, and scaling businesses, announced new developments in their ongoing partnership with Sage, the leader in accounting, financial, HR and payroll technology for small and mid-sized businesses (SMBs), through new features with Sage Intacct that will enhance payment processing for customers. These features will simplify payment processes and streamline back-office activities, enabling clients to get paid faster and more efficiently.

“Fortis’ in-depth expertise in the ERP industry empowers Sage Intacct users to better manage their cash flow and optimize their operations. By introducing features like recurring payments and customer sync, we enable Intacct users to streamline their back-office processes, allowing them to focus more on driving their business forward,” said Chip Mahan, Global Commercial Head of Fintech at Sage.

New Features Enhance Efficiency and Accuracy

Multi Pay – Allows merchants to pull up a customer file and manually process payment for multiple invoices at once. This streamlines the management of invoices, ensuring consistency in billing, providing a more efficient workflow.
AutoPay – Customers can make payments with the click of a button. This adds another layer of convenience, enabling users to track which customers have set up payments. Businesses will have greater confidence in cash flow management due to better financial planning and reduced risk of missed payments.
Recurring Payments – This feature allows users to add new recurring payments and view existing recurring transactions, syncing these transactions with the Fortis Platform. This simplifies the management of recurring payments, ensuring automatic, fixed, timely payments, improving cash flow and offering predictable financial forecasting.
Customer Sync – Facilitates the synchronization of customer data between Fortis and Intacct. Any changes made in Intacct (or Fortis) are automatically updated in the bi-directional connection, ensuring accuracy and efficiency in customer management.
Transaction Sync – Provides comprehensive tracking of transactions between Intacct and the Fortis Platform. With detailed transaction data and status updates, users can enjoy enhanced transparency and troubleshooting capabilities, making it easier to identify and resolve any issues.

“The B2B market is in the early stages of digitization—not just the evolution of cloud ERP software. Sellers can now leverage the Fortis embedded commerce experience to improve sales and receivables in Sage Intacct, all while creating amazing buyer interactions,” said Greg Cohen, Fortis CEO.

Fortis stands out as a Sage Recommended Solution and leader in embedded ERP payments, consistently delivering innovative solutions that simplify merchants’ payment processes and expedite their payments. These new features underscore Fortis’ commitment to integrating the latest payment technology with industry-leading expertise to enhance the Sage Intacct solution and offer greater value to customers. To learn more or schedule a demo, visit B2B Integrations Team Bookings.

Stay Ahead of the Financial Curve with Our Latest Fintech News Updates!

The post Fortis announced new developments in ongoing partnership with Sage first appeared on FinTecBuzz.

Aave’s GHO Stablecoin Now Live on Arbitrum Powered by Chainlink CCIP

PRNewswire — Wed, 03 Jul 2024 14:00:21 +0000

Following community discussions and voting, the Aave DAO has launched GHO on the Arbitrum network – the DAO’s first new market in its phased GHO cross-chain expansion strategy. GHO, the multi-collateralized stablecoin native to the Aave Protocol, will utilize the industry standard Chainlink Cross-Chain Interoperability Protocol (CCIP) and rollout progressively, beginning with Arbitrum as the first network and expanding over time to other networks. The expanded availability of GHO beyond Ethereum mainnet aims to increase accessibility, lower transaction costs, enhance the user experience, and improve liquidity, fostering greater adoption and spurring innovation. Although GHO is issued on Ethereum mainnet, the cross-chain strategy enabled by Chainlink CCIP will open the door to integration opportunities and new use cases. With the expansion to Arbitrum, the largest Layer 2 network with $17.7B in TVL, GHO becomes a borrowable asset in the Aave Arbitrum pool, making GHO more available in a cost effective way with additional use cases expected to follow.

“Congratulations to the Aave community on achieving this milestone for GHO’s expansion beyond Ethereum mainnet to Arbitrum,” said Aave Labs Founder and CEO Stani Kulechov. “The DAO’s measured approach to making GHO more accessible, aligns perfectly with its commitment to stability and risk management. Integrating with other networks will lower fees, offer faster transactions, and enhance liquidity, making GHO more attractive to users and ushering in a variety of new use cases, including GHO digital payments.”

“We are excited to see that the Aave DAO has chosen Arbitrum as the first platform to launch its GHO stablecoin. This integration is poised to revolutionize accessibility, lower transaction costs, and unlock unprecedented liquidity. As decentralized finance continues to advance, we are looking forward to seeing more transformative new use cases across Arbitrum.” said Nina Rong, Head of Ecosystem Development at The Arbitrum Foundation

“Excited to see that the Aave community has voted to choose the security of Chainlink’s CCIP as its interoperability solution for cross-chain GHO transfers. I have always seen the developers of Aave prioritize security, thanks to their deep understanding of the dynamics around keeping user value secure. CCIP does provide a large improvement on the security of other cross-chain systems, which is what will come to define it as the leading cross-chain infrastructure, just like the security of Chainlink Data Feeds is what led them to become the leading source of data in DeFi,” said Sergey Nazarov, Co-Founder of Chainlink.

For secure and cost-effective GHO cross-chain transfers, the Aave DAO chose CCIP, which is compatible with both EVM and non-EVM networks, enhances risk mitigation, security, and user experience through advanced features and mechanisms like rate limits, flexible billing, Programmable Token Transfers, a well-audited codebase, and a first of its kind separateRisk Management Network. Additionally, CCIP’s cross-chain security innovations empower the DAO through important risk management levers such as configurable rate limits and the ability to control GHO bridge logic. Backed by Chainlink’s battle-tested infrastructure, CCIP is widely adopted across DeFi and capital markets and supports existing Aave deployments, helping to ensure smooth and secure cross-chain expansion for GHO.

GHO was designed to be a secure multi-chain stablecoin architectured for flexibility. Arbitrum has, and every chain with GHO in the future will have, its own GHO version, backed by reserves on Ethereum, for sufficient collateralization. For secure cross-chain transfers between Ethereum and non-Ethereum chains like Arbitrum, GHO uses a lock-and-mint model enabled by CCIP, where tokens are locked on Ethereum while an equivalent amount is minted on the other network, keeping the total supply constant. As additional chains are supported, transfers between non-Ethereum chains will use a burn-and-mint model enabled by CCIP for maximum capital efficiency and fungibility, while still being backed by reserves on Ethereum. This ensures security and flexibility for GHO’s future expansion across multiple blockchains.

Stay Ahead of the Financial Curve with Our Latest Fintech News Updates!

The post Aave’s GHO Stablecoin Now Live on Arbitrum Powered by Chainlink CCIP first appeared on FinTecBuzz.

Revolutionizing E-commerce with PayFac Solutions

FTB News Desk — Thu, 27 Jun 2024 13:00:15 +0000

Table of Contents
1. Rising E-commerce and the Need for Efficient Payment Solutions
2. PayFac Solutions in Action: Real-Life Examples
2.1. Shopify
2.2. Uber
2.3. Etsy
3. Software Platforms to Explore for PayFac Solutions
3.1. Stripe
3.2. Square
3.3. Ayden
4. The Future of PayFac Solutions in E-commerce
5. Summarization

With a push towards digital transactions, Payment Facilitation (PayFac) solutions are reshaping the ways enterprises process payments online. PayFac solutions are revolutionizing the e-commerce industry by addressing the increasing volume and complexity of the payment environment. They provide users with an unbroken, safe, and efficient payment thread, ensuring seamless transactions.

1. Rising E-commerce and the Need for Efficient Payment Solutions

As the use of technology has increased in trade markets, consumer demands necessitate that businesses deliver integrated easy, and efficient payment system solutions. In conventional traditional methods, payment processes involve a long sign-up process, extra intermediaries, and extensive regulatory needs, which hamper both merchants and their customers. However, the need to complete these processes can be cumbersome and time-consuming. Whereas, PayFac solutions provide a more efficient method for payments.

2.PayFac Solutions in Action: Real-Life Examples
2.1. Shopify

One of the most effective e-commerce platforms, Shopify, applies PayFac technology in order to help its sellers accept payments without any problems. In this manner, Shopify underlines the concept of a payment intermediary. Thus, it helps merchants avoid facing numerous responsibilities associated with payments and instead concentrate on their main core business processes.

2.2. Uber

In Uber, the most used model is PayFac, which helps the company manage payments for its large number of drivers. Through this technique, Uber is able to manage multiple transactions and complete them in a timely manner and accurately so that people who drive for Uber can get paid.

2.3. Etsy

Etsy, the global marketplace that focuses on the selling of hand-made and vintage products, uses PayFac solutions to solve the payment issues of sellers. This approach is easier to manage and navigate, and the changes made are favorable in improving the total seller experience.

3.Software Empowering Your Business as a PayFac
PayFac solutions can be appropriate for both SMEs (Small and Medium-Sized Enterprises) with large enterprises (LEs), and even more companies that are SMBs (Small and Medium Businesses are adopting them. These platforms offer all the specifics and assistance mechanisms that may help to facilitate payment processing and, therefore, can be considered valuable services for businesses of different sizes.

The emergence of PayFac solutions is gradually gaining ground in various parts of the world, although it is still uncertain whether a particular region is prone to adopting this kind of solution. For more information concerning where PayFac solutions register high demand, you may have to explore research publications or engage the PayFac providers.

3.1. Stripe

Stripe is one well-known provider that has incorporated PayFac functions for companies considering the service. It provides a payment processing platform and API that lets organizations handle payments, subscriptions, and invoicing. Due to these factors, which include high-security standards and integrated systems, Stripe is preferred by many e-commerce websites.

3.2. Square

PayFac is notably offered as an option in the diverse payment solutions that Square offers. Given it is highly versatile and user-friendly, Square offers solutions for all aspects of business, from payments to payroll and POS systems.

3.3. Adyen

Adyen is a comprehensive payment solution that contains the PayFac feature. It has the ability to accept a multitude of payment types and many different currencies, which would be a big boon for any company that works on a global level. It is important to mention that Adyen’s platform is very reliable and has been designed to handle a large traffic load.

4. The Future of PayFac Solutions in E-commerce

As the shift to the digital economy grows, PayFac solutions are poised to provide more relevant services in the future. Potential trends like mobile payment processing, artificial intelligence in pay, and cross-border payments will continue to push the PayFac models into common use. Any company that is likely to adopt these solutions will be capable of addressing the needs that come with a volatile market and offer excellent customer service.

5. Summarization
The Payment Facilitation or PayFac solutions are changing the business paradigms when it comes to accepting digital payments. PayFac solutions that involve rapid onboarding, security, and scalability increase are in harmony with the general trends in the e-commerce environment. Since more organizations integrated these solutions and started using popular software platforms such as Stripe, Square, and Adyen, the development of digital payments seems promising, especially if efficiency and customer satisfaction turn out to be key values.

Stay Ahead of the Financial Curve with Our Latest Fintech News Updates!

The post Revolutionizing E-commerce with PayFac Solutions first appeared on FinTecBuzz.

Verituity Raises $18.8M to Accelerate B2B & B2C Verified Payout Platform

BusinessWire — Mon, 24 Jun 2024 13:30:43 +0000

Verituity, a leading provider of intelligent, verified payouts solutions, announced the successful close of an $18.8 million funding round led by Sandbox Industries and Forgepoint Capital with the participation of Ardent Venture Partners and MTech Capital. Chris Zock, Managing Partner and Co-CEO of Sandbox Industries, will join Verituity’s board of directors.

This latest infusion of capital will accelerate the company’s growth in banking and insurance and Verituity’s expansion into new markets, including mortgage servicing and energy. The investment enables Verituity’s further innovation of its advanced machine learning and artificial intelligence models that are the backbone of the company’s Zero Trust Payout Verification and intelligent payments.

“Verituity orchestrates billions of dollars in verified B2B and B2C payouts by empowering businesses and banks to deliver trusted and intelligent payments on-time to known individuals and businesses,” said Ben Turner, CEO of Verituity. “I look forward to working with our investors as we continue our journey to finally eliminate checks and embed intelligent, verified payouts into the fabric of business disbursements.”

Today’s announcement comes on the heels of the company’s partnership announcement with Mastercard Move to offer a white-label solution for commercial banks and payers to modernize their disbursements and remittances. The integration enables secure, verified and near real-time payments that better meet customer needs while being more cost-effective than legacy approaches.

“Verituity is a perfect example of the types of companies we seek to partner with that provide meaningful innovation to insurers and healthcare companies,” said Chris Zock, Managing Partner and Co-CEO at Sandbox Industries. “From agent and broker payments to claims, Verituity’s unique approach to embedding verification into payouts and handling the complexity of connecting legacy treasury systems to digital payments is transformative for the industry.”

“With Verituity at the intersection of verification, intelligent payments, and trust, the company is well positioned to take full advantage of the rapid digital transformation underway in disbursements,” said Don Dixon, Co-Founder and Managing Director at Forgepoint Capital. “We’re particularly excited about the investments they’re making in AI to solve the challenges of payee verification while migrating away from checks and mitigating payout risks.”

Stay Ahead of the Financial Curve with Our Latest Fintech News Updates!

The post Verituity Raises $18.8M to Accelerate B2B & B2C Verified Payout Platform first appeared on FinTecBuzz.

Tweed to Power Intel Ignite’s Events Registration Platform

PRNewswire — Fri, 21 Jun 2024 15:00:45 +0000

Tweed, a web3 digital payments startup, is powering a new event registration platform for Intel Ignite, Intel Corporation’s global startup accelerator program for early-stage deep tech startups. The integration, built on the Solana network, is designed to streamline Intel Ignite’s event processes – bringing a deep technological approach to in-person events by creating a bridge between the digital and physical worlds of Intel Ignite’s startup community programming.

The launch gives Intel Ignite the opportunity to have a fully integrated event registration platform on its website, without the need for external third party applications, allowing for Intel Ignite to fully own the data and user journey on its digital assets. Using this platform, Intel Ignite will further build and grow its community of startups, founders and mentors, and scale their events around the world, in its startup cohort locations of Israel, the United States, the United Kingdom, and Europe, as well as during global technology conferences.

For this new platform, Tweed’s embedded wallets and payment technology is used to tokenize each ticket as a unique non-fungible token that is certified on the blockchain. The platform is built exclusively on the Solana network, taking advantage of Solana’s reliability, scalability, and efficiency.

As part of the Intel Ignite program, Tweed was mentored by Intel’s security and technology teams to shape their key management and overall product architecture. Guidance from Intel’s security experts spanning Intel’s mobile, TDX, and blockchain identity teams, was critical in ensuring that no encryption keys are stored on Tweed’s infrastructure. With this architecture, Tweed is able to offer the only wallet-as-a-service that enables a 100% self-custodial solution combined with seamless recovery. The collaboration has helped Tweed build enterprise-ready and scalable solutions, fit for both enterprises and SMBs entering the web3 space.

“Our goal with Tweed is to create a seamless and secure experience for every user. This product launch with Intel Ignite not only allows us to create that experience for the tech community and entrepreneurs, but also for an organization with which we have a deep personal connection,” said Michelle Latzer, co-founder and chief executive officer of Tweed. “As alumni of Intel Ignite, we have seen firsthand the value and strength of the ties forged by being part of this amazing program. Intel Ignite hosts a large number of events across conferences and continents, and they want to maintain a relationship with and provide utility to this real, worldwide community – something they can do more easily on a verified, traceable, and programmable blockchain network. We know our work will go back to further growing and engendering that community.”

The new event registration system is also a manifestation of a core principle of Intel Ignite. “This ticketing launch with Tweed demonstrates our commitment to the startups that have come through the Intel Ignite accelerator program,” said Alon Leibovich, Managing Director of Intel Ignite Tel-Aviv, of which Tweed is an alumnus of its 8^th Cohort. “We are excited to see how the product has evolved and their success, and look forward to supporting Tweed as the company grows its solution set.”

Stay Ahead of the Financial Curve with Our Latest Fintech News Updates!

The post Tweed to Power Intel Ignite’s Events Registration Platform first appeared on FinTecBuzz.

Demystifying Payment Facilitation Solutions in 2024

FTB News Desk — Mon, 17 Jun 2024 13:00:19 +0000

Table of Contents
Introduction
How Do Payment Facilitators Work?
Key Considerations Regarding Facilitation Payments
Conclusion

Introduction
The payment processing landscape has been rapidly evolving since the early days of credit card payments. However, in recent times, with the explosion of cloud-based software, e-commerce, and mobile payments, a significant portion of transactions now take place online. Therefore, these changes in payment tech trends have paved the way for Payment Facilitator (PayFac), the most uncomplicated payment model that aids merchant accounts in the enrollment process, allowing B2B businesses to accept payments more easily. Being a master merchant, PayFac also operates as a sub-merchant, which reduces the complexity and time required for each business to separately establish a merchant account with a bank or payment processor.

In today’s exclusive Fintecc Buzz article, we will focus on how payment facilitation (PayFac) solutions look at the inner engineering of the payment facilitator model.

How Do Payment Facilitators Work?

With PayFacs, distributors of goods and services don’t need to apply for a Merchant ID (MID), as these solution providers already have a relationship with acquiring banking networks. These facilitators operate by aggregating funds from multiple merchants into numerous accounts and conducting online processing via various payment methods. As a result, numerous merchants can run their B2B businesses under a single MID, managing all aspects of transaction processing. PayFacs specializes in lowering the barrier to access for small to midsize businesses when it comes to acknowledging digital payments by proposing a more straightforward onboarding process.

Key Considerations Regarding Facilitation Payments
PayFacs is sometimes referred to as unethical and, illegal, as it involves small yet unofficial payments made to expedite routine services that are generally not reflected in the tax payment. Therefore, when dealing with Payfac solutions, businesses, and finance teams should be aware of all the legal aspects, as some payments might be prohibited in many jurisdictions. There also might be potential consequences, such as damage to reputation and legal repercussions, if the facilitation payments are not resorted to properly, there is no transparency, or there is no adherence to strict compliance.

Becoming a payment facilitator is not an easy task, as it is assumed to have many more responsibilities than independent sales organizations (ISOs), as these solutions provide a broader expanse of payment processing services directly to the merchant. While the ISOs serve as outsourcers, they also handle bulk risk management, software development, and compliance with the customer’s payment processing or bank payments. The facilitator must conduct a thorough underwriting for each sub-merchant to evaluate risk and assure compliance with all applicable laws and payment industry prototypes, such as PCI DSS.

Facilitators are also obligated to monitor transactions for signs of unusual activities or fraud and implement security measures to safeguard against unauthorized transactions. The payment facilitators are also responsible for guaranteeing timely and accurate funding of sub-merchant accounts after transactions are processed. They need to provide support to sub-merchants for matters related to payment processing, including technical backing and advice on the best techniques for transaction management.

Conclusion
The rise of PayFacs as an alternative yet new-age merchant account management process has simplified merchant onboarding, managed compliance, and provided centralized control in the financial sector. However, selecting the payment facilitator describes a strategic edge for software firms and businesses striving for seamless payment processing integration without the intricacies associated with traditional processors.

Stay Ahead of the Financial Curve with Our Latest Fintech News Updates!

The post Demystifying Payment Facilitation Solutions in 2024 first appeared on FinTecBuzz.

OneAZ CTO Sandeep Uthra Joins Metal Blockchain Advisory Council

GlobeNewswire — Fri, 14 Jun 2024 15:00:45 +0000

Metallicus announces the addition of Sandeep Uthra, Chief Technology Officer at OneAZ Credit Union, to the Metal Blockchain advisory council. His appointment brings unparalleled expertise in tailoring blockchain solutions for Credit Unions, focusing on critical areas such as digital payments, stablecoins, digital identity, and private subnets, thereby amplifying Metal Blockchain’s value for financial institutions.

“Sandeep’s distinctive take on credit union innovation elevates our work to adapt Metal Blockchain for the financial sector,” stated Don Berk, Chief Operating Officer of Metallicus. “His position is critical to our mission of aligning blockchain technology with the expansive requirements of the US financial industry.”

Sandeep Uthra brings a wealth of experience from his tenure as Chief Technology Officer at OneAZ Credit Union. This positions him uniquely to assist Metallicus in expanding Metal Blockchain’s reach and commercial viability across the US financial landscape.

“I am super excited to support Metallicus in advancing blockchain technology within the Financial Services industry. Our efforts will focus on leveraging blockchain to reimagine banking, simplify processes, and enhance the fulfillment speed for credit unions and their members,” stated Sandeep Uthra, Chief Technology Officer at OneAZ Credit Union.

Moreover, Sandeep Uthra will play a crucial role in helping Metal Blockchain build a consortium for multiple credit unions, through the Metal Blockchain Banking Innovation Program. This consortium aims to create various use cases that would reduce costs, mitigate risks, and increase the probability of successful use case deployments, leveraging the collective expertise and resources of multiple credit unions.

Stay Ahead of the Financial Curve with Our Latest Fintech News Updates!

The post OneAZ CTO Sandeep Uthra Joins Metal Blockchain Advisory Council first appeared on FinTecBuzz.

The Best FinTech Courses and Certifications of 2024

FTB News Desk — Mon, 03 Jun 2024 13:00:26 +0000

Table of Content
Introduction
1. FinTech Executive Education Program
2. Chief Financial Officer Executive Education Program
3. Fintech: Innovation and Transformation in Financial Services
4. The Chief Financial Officer Program
5. Fintech Revolution Executive Education Program
Conclusion

Introduction
The digital landscape continuously evolves, and learning new technologies, especially in the financial sector, has become a cornerstone for financial analysts seeking to enhance their skills and stay ahead of the competitive market. Recognizing the need for upskilling, FintecBuzz presents an exclusive compilation of the best five FinTech courses and certifications of 2024. These courses employ various disciplines, from investment advisory and lending to blockchain and DeFi, empowering you to boost your resume and credibility.

1. FinTech Executive Education Program
The FinTech Executive Education Program is a formal certification from Harvard Business School that will provide senior business decision-makers, top management, bankers, and finance professionals. The course suggests real-world case studies prepared by experts to help professionals understand the trending concepts of fintech. It also emphasizes the importance of financial regulations, the evolving financial strategies of start-ups, and the rapid change in traditional institutions.

2. Chief Financial Officer Executive Education Program
The CFO education program was launched by the faculty members of Columbia Business School and is specially designed for financial leaders to develop knowledge and skills to alter their profile as chief financial officers. This course provides a core curriculum to kick-start a career journey in finance through study materials, live online sessions, and networking events. Further, it provides a flexible learning journey that works as a learning guide and offers real-world case studies on financial leadership and decision-making.

3. Fintech: Innovation and Transformation in Financial Services
The FinTech program by the National University of Singapore is designed for financial managers and consultants interested in driving innovation and developing effective solutions for their organizations. The course explores the latest technologies and techniques that financial professionals can leverage to enhance financial service daily and for long-term growth. This 2-month program will also provide professionals with a better understanding of the trends in FinTech and enable them to utilize all the knowledge to make calculated and profitable decisions.

4. The Chief Financial Officer Program
To expand knowledge and brush up skills in the financial sector and become a chief financial officer, this fintech program at London Business School is the right option. This extensive course will provide professionals with an understanding of subjects such as the business of AI, innovations in the digital world, strategic thinking and leadership, and monitoring performance that will help them improve financial decision-making.

5. Fintech Revolution Executive Education Program
The Fintech Revolution from Wharton is a business-focused and practical course where executive-level financial professionals can apply different fintech tools that will improve the way financial businesses operate and perform in the digital world. The course is very structured and directly focuses on reducing transactions and service costs, understanding economies of scale, tapping new markets in different regions, and improving services through digital delivery. It also covers the latest trends in digital payments, digital transformation, marketplace lending, AI, insurtech, real estate tech, regulation, and blockchain tech that can evolve the business world forever.

Conclusion
While traditional degrees are still valid, employers look for certified financial professionals who have their certifications from famous institutes. The above certification courses on financial technology are proven to help acquire new skills and brush up on existing ones. However, before selecting the right course, professionals should understand the current fintech trends and plan out their professional goals to align their future careers.

Stay Ahead of the Financial Curve with Our Latest Fintech News Updates!

The post The Best FinTech Courses and Certifications of 2024 first appeared on FinTecBuzz.

Billtrust announces 2024 Trailblazer Award Winners

PRNewswire — Fri, 17 May 2024 13:30:10 +0000

Billtrust, a B2B order-to-cash and digital payments market leader, announced the recipients of its 2024 Trailblazer Awards during a ceremony held April 24, 2024, at Billtrust Insight, the company’s educational conference and user event. The Trailblazer Awards recognize Billtrust customers making significant achievements in digitally transforming their order-to-cash processes and improving their customers’ experiences.

Billtrust customers Angela Richards of Express Services, Inc. and Karen Singleton of Specialty Products & Insulation each took top honors as Champions of the Year, and representatives from Ferguson, Parrish-Hare Electrical Supply, Richards Building Supply, Peter Millar and White Cap were also recognized. Calvin Mathis of Genuine Parts Company received the Hall of Fame award posthumously.

“Our customers are everything to us, and the Trailblazer Awards are an incredible opportunity to recognize those who are setting a new benchmark moving finance forward in their companies and offering their customers a world-class experience,” said Billtrust CEO Sunil Rajasekar.

2024 Trailblazer Award recipients are:

Champion of the Year – Angela Richards, Express Services, Inc.
Champion of the Year – Karen Singleton, Specialty Products & Insulation
CFO Innovator of the Year – Ted Dometita, Richards Building Supply
CX Excellence – Ferguson
Sustainability Champion – Parrish-Hare Electrical Supply
Business Impact Accelerator – Toni Mitchell, Peter Millar
Payments Powerhouse – Stacie Ganganna, White Cap
Hall of Fame – Calvin Mathis, Genuine Parts Company (posthumous)

Stay Ahead of the Financial Curve with Our Latest Fintech News Updates!

The post Billtrust announces 2024 Trailblazer Award Winners first appeared on FinTecBuzz.

Enumerate announced the launch of Automate AP

PRNewswire — Thu, 09 May 2024 13:30:58 +0000

Enumerate, the leading provider of community association management software and payments solutions, is excited to announce the launch of Automate AP, a fully native and comprehensive accounts payable offering that automates invoice ingestion, approval workflows and payment delivery. Automate AP complements Enumerate’s AR payments offering to fully automate and streamline inflows and outflows of cash, giving community managers greater visibility and control of their business.

“Current accounts payable processes are inefficient, inaccurate, and bring significant hidden costs to community associations. Manual checks open communities to risk with 63% of organizations facing fraudulent activity via checks¹,” said Vijay Ramnathan, CEO of Enumerate. “Automate AP was purpose-built to solve these challenges for community associations, and we’re excited to bring these cost and time savings to our customers.”

Enumerate brings 30+ years of experience designing products specifically for community management associations and homeowners’ associations (HOAs). With the launch of Automate AP, they provide an end-to-end community management platform that covers accounting, AR and AP payments, operations management, and resident engagement. With an all-in-one platform, community managers can manage their entire business in one location, ensuring they have full visibility into their operations.

“Community associations spend a lot of time and money processing payments. With Automate AP, we can save our customers up to 75-80% of that cost through automation. This is a huge savings that allows communities to reinvest in areas that benefit residents more directly,” said Jill McFarland, head of product at Enumerate. “By leveraging our Enumerate Central platform for accounts payable, reconciliation also happens faster, which improves vendor relationships.”

Key Features of Automate AP:

Reduced fraud risk: Cutting-edge fraud prevention technologies supported by an expert fraud team provide defense against ever evolving scams.
Reduced processing time: Digital invoice ingestion, integrated approval workflows and digital payments reduce average payment time by 5 days vs manual processing.
Eliminate approval bottlenecks: Automated and customized workflows ensure invoices don’t get stuck waiting on internal and board member approvals.
Cost savings: Reduce invoice and processing costs and reallocate to higher value activities for residents.
Reduced human errors: Easy to use workflows automate manual tasks which significantly help reduce human error.
Improved vendor relationships: More accurate and timely payments improve vendor relationships.
Better user experience: All-in-one software reduces the number of platforms employees need to access, making it easier to do their job.
Better environmental impact: Reduce paper invoices and mailings through electronic ingestion, processing and distribution of payments.

Stay Ahead of the Financial Curve with Our Latest Fintech News Updates!

The post Enumerate announced the launch of Automate AP first appeared on FinTecBuzz.