The FDIC takeover of Santa Clara, CA-based Silicon Valley Bank (SVB), which news reports described as the worst bank failure since 2008 and the second worst in U.S. history, had quite a few of your peers weighing in about it…
Banking
The predicted "red wave" for the midterm elections didn't pan out. But the Republican-majority House can derail some of President Biden's initiatives. One of them is the ever-expanding Environmental, Social and Governance (ESG) movement and specifically a proposed Securities Exchange…
Good news: The Justice Department is finally recommending stiffer penalties for cyber-criminals that target companies' coffers. The Justice report to Congress, “The Role of Law Enforcement in Detecting, Investigating, and Prosecuting Criminal Activity Related to Digital Assets,” recommends doubling the…
If you're considering shopping around for a new commercial banking partner for next year, it may be because you need a banker that delivers value beyond simply managing your business's finances. Maybe you've sent out some requests for proposals to…
Many of the vendors you work with may be among the more than 2,300 U.S. businesses that accept the cryptocurrency bitcoin, according to a report from Deloitte. There may be even more businesses exploring cryptocurrency right now because, unlike cash,…
Last year, financial institutions had to contend with record-low interest rates and a glut of deposits. But that didn't stop community banks from becoming vital partners to businesses, delivering a blend of personalized service and prudent risk management practices that…
Between internal fraud risks, cyberattacks and stolen checks, being on guard against fraudulent activity can become an all-day, everyday concern for your A/P department. For instance, the number of fraud complaints nationwide averaged 2,300 per day in 2021 (up from…
Being able to make and receive B2B cross-border payments is essential for growing e-commerce, capturing new markets and facilitating long-term growth for your business. But cross-border payments are complicated. One of the biggest headaches is the long transaction times due…
Business email compromise scams are still a costly force to be reckoned with. And your Finance team can't afford to let its guard down. For example, First Citizens Community Bank, which has locations in Delaware, New York and Pennsylvania, recently…
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…
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…
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…
