Our CTO and co-founder, Aland Greenblatt, was recently interviewed for a feature on CyberGhost.
Topics: compliance, payments fraud, vendor master, risk, identity, Cyber Security
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.
Topics: compliance, payments fraud, AP, ACH, vendor master
Our Head of Payments Taylor Nemeth contributed this article to University Business
3 Best Practices for Preventing Payments Fraud
This is especially true for those working in higher education. With its public expenditure disclosures and decentralized procurement, higher education is especially vulnerable.
Not to mention, most colleges and universities conduct business with thousands of payees—individuals and enterprises, foreign and domestic—making payee identity management enormously challenging.
Sadly, many universities know this threat firsthand. University of San Diego lost $749,000 a year later. They are not alone.
So why isn’t anyone talking about it?
Topics: compliance, higher education, AP, #paymentsfraud, vendor master
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.
Topics: compliance, higher education, AP, vendor master
Yakut Akman has 40 years of experience in financial services, covering a wide range of functions globally, including Operations & Technology, Risk Management, Audit, and Regulatory Compliance. She joined our podcast to share her prescription for how to structure third party risk at any sized organization.
Topics: compliance, podcast, risk
PaymentWorks Launches Podcast Series to Help Organizations Identify & Mitigate Business Payments Fraud Risk
Inaugural episode features interview with Clay Deutsch, former CEO of Boston Private Bank
Waltham, MA – September 21, 2020 – PaymentWorks, providers of The PaymentWorks Business Identity Platform, today unveiled PaymentWorks Presents Risky Business, a new podcast series designed to help organizations identify and mitigate risk related to business payment fraud. The series will explore themes including business payments, compliance, risk management and supplier onboarding, among others. Each episode will feature an interview with industry experts and/or frontline practitioners working in vendor management and risk to offer the insight organizations need to effectively address the growing threat of business payments fraud. To learn more visit HERE.
Topics: compliance, insurance, podcast, #paymentsfraud
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.
Topics: compliance, payments fraud, AP, podcast