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

PaymentWorks Presents Risky Business Episode 2: Valarie Van Vlack

Posted by PaymentWorks Staff on Sep 24, 2020 10:58:03 AM

PaymentWorks interviews the Treasurer at Texas State University, Valarie Van Vlack on the unique mission of treasury in higher ed, and all of the creative ways fraudsters try to scam educational institutions.

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Listen to the podcast here.

Read the blog post Protecting and Serving: Treasury in Higher Ed

Topics: higher education, podcast, #paymentsfraud

PaymentWorks Launches Podcast Series to Help Organizations Identify & Mitigate Business Payments Fraud Risk

Posted by PaymentWorks Staff on Sep 21, 2020 2:07:55 PM

 

Inaugural episode features interview with Clay Deutsch, former CEO of Boston Private Bank

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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.

PaymentWorks Presents: Clay Deutsch, former CEO, Boston Private Bank

Recently recorded, the inaugural podcast features an interview with Clay Deutsch, former CEO of Boston Private Bank regarding the evolution of risk management, vendor management and the increasing threat of payment fraud for businesses.  To listen, visit HERE.  The regularly scheduled series boasts an impressive speaker line-up including:

  • Global Payment Advisors: David Kurrasch, president, to explore ACH, banking and payments fraud
  • Texas State University: Valarie Van Vlack, treasurer, to discuss the role of treasury in higher education and payments fraud
  • Willis Towers Watson: Matt Klein, director, national Fidelity product leader, to explore what cyber insurance will cover when it comes to social engineering scams

Business Payment Fraud Largest Source of CyberCrime in US

It is more critical than ever for organizations to be relentless in their efforts to protect against business payment fraud - the largest source of cybercrime in the United States. According to a recent AFP Survey, 81% of businesses reported a business payments fraud attempt in 2019. The risk is real and devastating as fraudsters are savvier than ever before. Yet little progress has been made to help businesses effectively eliminate the growing gap in managing the identity elements in B2B relationships – fueling this increase in threats.  The PaymentWorks Business Identity Platform was designed to disrupt the status quo and eliminate this identity gap. By automating the complex payee management process, PaymentWorks enables payers and payees to exchange verified identity elements in a networked environment. Learn how it works HERE

 

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 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”. 

 







Topics: compliance, insurance, podcast, #paymentsfraud

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