As business-to-business (B2B) payment processes modernize, the ability to securely send this electronic payment information with an electronic invoice (e-invoice) will be a key enabler of efficient electronic payments. Learn about the benefits of including payment account information with e-invoices and new developments to help drive migration from check to electronic payments.
The Federal Reserve’s new Synthetic Identity Fraud Mitigation Toolkit provides financial institutions, consumers and businesses with an online repository of insights and resources for addressing this growing type of fraud.
Since the launch of the E-invoice Exchange Market Pilot and the Remittance Delivery Assessment Work Group last year, notable progress has been made to catalyze the modernization of business-to-business (B2B) payments in the United States.
Over the year, the Federal Reserve has continued to collaborate with the industry to advance understanding on the importance of B2B payments modernization. This collaboration has taken different forms, resulting in progress among industry work groups, market pilot activities and strong enthusiasm for efforts to advance modernization.
In its most recent report, the Financial Stability Board (FSB) released quantitative targets for its improvement roadmap. These targets intend to establish collective goals across the industry aimed at improving the cost, speed, accessibility and transparency of cross-border payments.
Straight-through processing yields multiple benefits for businesses and alleviates the pain points that result from manual business-to-business (B2B) payment processes.
The FraudClassifier(SM) model was released in June 2020 to help organizations speak the same fraud language and obtain a holistic picture of fraud involving payments. Explore a new video for a comprehensive overview of the model, including a step-by-step walk-through of its classification paths and supporting definitions.
An opportunity exists to progress toward straight-through processing (STP) as primary components for sharing automated remittance information are now achievable. Learn more about how the business-to-business (B2B) payments ecosystem can take advantage of recent progress toward STP for more efficient payments.
As a leader in Global Treasury and Financial Services at Microsoft, Jayna Bundy has observed how industry-wide inefficiencies can complicate the delivery of payments solutions in the business-to-business environment.
In determining how faster payments, and specifically instant payments may fit into your organization’s payments strategy, consider the Federal Reserve’s ongoing instant payments education series as a resource for the journey.