Our CTO Alan Greenblatt was recently interviewed by Threat.Technology.  Except below.

PaymentWorks protects against B2B payments fraud, ensures regulatory compliance, and automates vendor management processes so every company can be 100% certain about every third-party they do business with.

What Problem Are You Trying to Solve?

According to the AFP, 74% of comp

anies reported they were the target of an attempted or successful payments fraud attack in 2020. More than three quarters of the time, these attacks stemmed from business or vendor email compromise as fraudsters pretended to be someone else – often an existing vendor – in the hopes of changing vendor bank account credentials.      

Cybersecurity can help, but it cannot remove the risk of falling victim to this type of social engineering scam. 

Professionals in AP, Procurement and

Treasury live with a lot of stress about this. To alleviate the massive burden on these departments, PaymentWorks is offering what no one else in the industry can – a B2B payments security guarantee.   Vendors onboard through our platform, and if we give the thumbs up that a bank account is okay to pay, and we’re wrong, that is a PaymentWorks problem.  

Our customers can go back to sleeping at night.  Plus, they get compliance and added cost avoidance associated with vendor management to boot.

Read the entire article on Threat.Technology here.

Our Head of Payments Taylor Nemeth contributed this article to University Business

3 Best Practices for Preventing Payments Fraud

Automating pervasive manual processes eliminates the risk of business payments fraud and ensures consistency of payments despite pandemic-driven changes to internal controls   

Waltham, MA – Feb 15, 2021 – PaymentWorks today announced higher education institutions across the country are increasingly relying on the PaymentWorks Business Identity Platform to automate critical payee identity processes and eliminate the risk of business payments fraud. Notable new customers include Rensselaer Polytechnic Institute (RPI), The University of Tennessee and The University of Alabama. For more on how we help universities know who they are doing business with visit, paymentworks.com/how-it-works.

Partnership Expands Affordable Access to Secure Vendor Management in an Era of Remote Work

February 4, 2021, Waltham, MA and Jericho, NY-  PaymentWorks and E&I Cooperative Services (E&I) recently launched a competitively solicited lead public agency (LPA) contract for supplier information management (SIM) systems. This agreement creates an avenue for E&I members in higher education and K-12 to implement secure, repeatable, transparent vendor onboarding and relationship management. 

Our CEO Thayer Stewart recently published a column in PaymentsJournal.

Dirty Little Secret – Business Payments Fraud Is Real and It’s Coming For You: Actionable Ways to Mitigate Risk Today

Each day, financial institutions see hundreds of thousands of payments come in and hundreds of thousands of payments go out. And with humans still at the epicenter of these transactions–tasked with authenticating and authorizing payment is in fact going to the right vendor–businesses are left vulnerable to increasingly savvy fraudsters. 

Read the entire article on PaymentsJournal.

PaymentWorks interviews the former CEO of Boston Private bank regarding the evolution of risk management, vendor management, and the increasing threat of payments fraud for businesses.