PaymentWorks Teams with Nacha to Address Payments Fraud- Webinar

Posted by PaymentWorks Staff on Oct 21, 2020 8:35:00 AM

Cybersecurity Awareness Month Session Titled “Payments Fraud and Your Vendor Master: Uncovering Hidden Risks”

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Waltham, MA – October 21, 2020 – PaymentWorks, providers of The PaymentWorks Business Identity Platform, today announced that in support of Cybersecurity Awareness Month it will host a webinar to discuss payments fraud risks and best practices for addressing the issue. With the AFP reporting that 81% of businesses have found themselves the target of payments fraud, vendor management and the vendor master have become the epicenter of financial risk for many companies. The session will include extensive experience in combating payments fraud from three key perspectives: a former bank CEO, and a product expert with Nacha, and a payment security platform CEO, each of whom will bring clarity to the problem, advice for combating it, and sound reasons this issue should be top of mind for organizations.

What: PaymentWorks Webinar – “Payments Fraud and Your Vendor Master: Uncovering Hidden Risks

Key Topics:

  • The risk hidden in the vendor master
  • Best practices for protecting payments & creating airtight controls
  • What banking and business leaders say they need to combat the problem

Panelists: 

  • Clayton Deutsch, former CEO of Boston Private Holdings and Boston Private Bank
  • Rob Unger, Senior Director, Product Management and Strategic Initiatives, Nacha
  • Thayer Stewart, CEO and Co-Founder, PaymentWorks

When: Wednesday, October 28, 2020 at 2 PM Eastern

Registration: Webinar attendance is limited. Additional information and registration details can be found here. Media are encouraged to contact press@paymentworks.com for no-cost registration.

 PaymentWorks recently became a Nacha Preferred Partner for Business Identity Services, joining a select group of innovators whose offerings align with Nacha’s strategies to advance the ACH Network.

About Nacha

Nacha is a nonprofit organization that convenes hundreds of diverse organizations to enhance and enable ACH payments and financial data exchange within the U.S. and across geographies. Through the development of rules, standards, governance, education, advocacy, and in support of innovation, Nacha’s efforts benefit all stakeholders. Nacha is the steward of the ACH Network, a payment system that universally connects all U.S. bank accounts and facilitates the movement of money and information. In 2019, 24.7 billion payments and nearly $56 trillion in value moved across the ACH Network. Nacha also leads groups focused on API standardization and B2B payment enablement. Visit nacha.org for more information, and connect with us on LinkedIn, Twitter, Facebook and YouTube.

 

About PaymentWorks

PaymentWorks and our company’s Business Identity Platform eliminates the risk of business-payments fraud, which costs U.S. businesses more than $20 billion a year. By automating a complex, manual, people-intensive, and error-prone payment process, PaymentWorks protects organizations such as Hackensack Meridian Health, Johns Hopkins, and University of Kentucky from business payments fraud and ensures regulatory compliance. To learn more about how we do it and the partners we work with, visit our website, check out our blog or listen to our new podcast series, “PaymentWorks Presents Risky Business”.

 

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Topics: partners, ACH, #paymentsfraud, risk

Nacha Announces PaymentWorks as a Preferred Partner

Posted by PaymentWorks Staff on Sep 16, 2020 7:56:00 PM

 PaymentWorks is now a Nacha Preferred Partner for Business Identity Services. In becoming a Preferred Partner, PaymentWorks joins a select group of innovators whose offerings align with Nacha’s strategies to advance the ACH Network.

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Nacha welcomes PaymentWorks as our newest Preferred Partner, for its business identity services,” said Nacha President and CEO Jane Larimer. “Reducing fraud and taking the friction out of pre-payment processes are both critically important for conducting secure and efficient business-to-business ACH payments. We look forward to working with PaymentWorks and all our Preferred Partners that provide solutions that help advance the ACH Network.”

The PaymentWorks’ Business Identity Platform reduces business payments fraud and costs, and ensures compliance by automating complex payee-management processes in mid-to-large organizations that make a large volume of payments to third-parties.   

“As business payments are one of the largest targets of cybercrime, we’re proud to be a Nacha Preferred Partner. We’re on a mission to simplify the complexity, reduce the costs and mitigate the risks of managing payee credentials and making B2B payments,” said Thayer Stewart, CEO of PaymentWorks. “With our platform and our partnerships with Nacha and other organizations, we will make a difference in keeping payments secure.”

Nacha’s Preferred Partner Program is open to any technology solution provider whose offerings align with Nacha’s core strategies to advance the ACH Network. Learn more about Nacha's growing community of Preferred Partners and how they can support your payments needs. For more information, visit www.nacha.org/Preferred-Partner.

 

About Nacha

Nacha is a nonprofit organization that convenes hundreds of diverse organizations to enhance and enable ACH payments and financial data exchange within the U.S. and across geographies. Through the development of rules, standards, governance, education, advocacy, and in support of innovation, Nacha’s efforts benefit all stakeholders. Nacha is the steward of the ACH Network, a payment system that universally connects all U.S. bank accounts and facilitates the movement of money and information. In 2019, 24.7 billion payments and nearly $56 trillion in value moved across the ACH Network. Nacha also leads groups focused on API standardization and B2B payment enablement. Visit nacha.org for more information, and connect with us on LinkedIn, Twitter, Facebook and YouTube.

About PaymentWorks

The PaymentWorks’ Business Identity Platform automates complex payee-management processes in mid-to-large organizations to eliminate business payments fraud, reduce cost and ensure regulatory compliance. The platform enables organizations to automate the collection and verification of business identification information for all their payees and allows for the continuous monitoring and updating of the information - while thwarting any efforts to hijack an existing vendor record and redirect payments.  Connect with us on LinkedIn or Twitter.



Topics: payments fraud, partners, ACH

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