ACH payments continue to be a popular choice with your peers for electronic payments, and traffic continues to increase on the ACH network. The ongoing COVID-19 pandemic has been one of the major drivers for increasing ACH activity. Over two-thirds (68%) of CFOs said that the rise in ACH activity at their companies has been […]
It isn’t just your Finance department that’s feeling the urge to get more digital. There’s also a new wave of banking industry digital transformation that’s gaining momentum. Valuable new technologies and digital services may soon be adopted by more financial institutions because they’ll provide data insights that banks didn’t have before. It may be time […]
When it comes to electronic funds transfers, your top two choices are automated clearing house (ACH) and wire transfers. But what’s the difference between them? Answer: A couple of things stand out. For example: With same-day processing, wire transfers are faster. Automated clearinghouse is less expensive, usually costing no more than a few dollars per […]
Whether your company relies on ACH for direct deposit, electronic funds transfer (EFT) or other reasons, you should know changes are coming. This, after Nacha already made about a half dozen changes during 2021. For example, on March 19, 2021, Nacha expanded its Same Day ACH hours. A third window was provided, allowing payments to […]
If your company took out a Paycheck Protection Program (PPP) loan to get through the pandemic, forgiveness just got easier, thanks to a new SBA portal. The U.S. Small Business Administration (SBA) has launched the new portal for businesses to apply for direct forgiveness of PPP loans. It enables borrowers to bypass SBA’s Form 3508S […]
Community banks emerged as important partners during the COVID pandemic. And a new report from the Independent Community Bankers of America ranks them. The 2021 List of Top Lenders tapped FDIC data to assign banks a score. It combines the average of the bank’s percentile rank for lending concentration and for loan growth over the […]
You have another reason to hope the economy doesn’t fall into a global recession: Turns out one in three banks wouldn’t survive such a downturn.
Today, your finance team must do more than ever before to ensure that company money stays where it belongs. Payment fraud just spiked to a new high. A staggering 82% of companies said they were hit last year, according to the new 2019 AFP Payments Fraud and Control Survey. Of course, you encourage your team […]
Granted you probably won’t love your company’s banks every minute of every day. But is your financial institution notorious for making its customers unhappy?
