| KYC: Knowing Your (Onboarding) Costs
$60 million. $300 million. One month, four months? Welcome to the well-meaning but truly inefficient world of onboarding and KYC â where financial services firms are mired in manual processes and where wait times are forever, and expensive. But that is all likely to change with a bit of digital know-how, as Trulioo VP Anatoly Kvitnitsky tells us in the latest Data Drivers.
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| Accountants Gear Up For AI Disruption
The first waves of automation in corporate accounting had professionals worried robots would take over their jobs. Now, artificial intelligence is evolving to once again bring the next wave of corporate accounting automation. The difference this time is that finance execs seem more keen to get educated, not worried. New research from BlackLine shows CFOs, accountants and other financial professionals are quickly preparing for AI disruption, but not necessarily running from it.
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| | Corporate Treasury | | Suppliers Faced With New Friction As More Invoices Get Paid Electronically
Corporates often cite the cash-float time associated with paying via paper check, but for the payee, thereâs another benefit to the payment rail: Key transaction data typically moves along with that check, making reconciliation a breeze for accounts receivable departments. Gary Cawthorne, vice president of Deluxe Treasury Management Solutions, says electronic payment rails havenât necessarily figured out how to move data with money, creating a new area of friction for suppliers that get paid electronically. He tells PYMNTS about the technologies making it easier on AR departments to accept electronic payments and actually apply the cash they receive. Read More... |
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