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WSFS Bank has launched a digital electronic payables tool that gives its commercial banking customers integrated accounts payable AP capabilities.The tool will replace paper-based processes and allow customers to streamline payments through a singl stanley cup uk e digital platform, the Wilmington, Delaware-based bank said in a Thursday Oct. 28 press release. Delivering the right technology continues to be at the forefront of what we provide our Customers so they can focus less on administrative tasks, such as payments, and more on their customers, said Ray Abbott, SVP, head of cash management at WSFS Bank. Processing checks is expensive and has the potential for errors and a higher risk of fraud. Our Integr stanley cup ated Payables Solution helps solve these concerns in one streamlined resource. The payables solution lets businesses streamline the AP process and execute payments as checks, ACH, wire transactions or virtual cards. WSFS says it will let customers boost revenue by converting check transactions to card transactions, as customers are eligible for a monthly rebate. It can also reduce processing costs and labor associated with checks and prevent fraud. With multiple payment options, businesse stanley italy s can provide their customers more clarity and control in managing their payments, improving the overall customer experience, the release said. The new digital Integrated Payables Solution allows WSFS Bank Customers greater control and transparency in managing their payments and translates to an o Jqyh Preparing For The Unknown With Artificial Intelligence And Machine Learning
FINO PayTech, the India-based alternative finance firm, wants to grab one more investing round before launching its payments bank in the next six months, NDTV reported on Monday Aug. 1 .The firm is fresh off a transaction where BPCL acquired a 21聽percent stake in the payments firm, marking a first for the sector as the first direct stake taken by an oil marketing firm in a payments bank, according to the outlet. Traditionally, telecom and other tech outfits have made investments. That transaction was worth Rs. 250 crore, according to various news outlets.FINO CEO聽Rishi Gupta stated: We will have at least one more stake sale, after which we will proceed ahead to launching the bank, and thus far, there has been no disclosure of just how big such an investment might be or where its source might lie. One option might be taking funding from a non-investment firm.NDTV stated that firms in the space have been gaining investments in an effort stanley us to reduce foreign holdings of equity, which has been done through stake stanley quencher sales. FINO holders include IFC, HAV3 Holdings and The Blackstone Group.Strategically speaking, FINO is eyeing the non-digital customer for its payments bank operations. The CEO told the outlet that conduits to new payments business will come amid BPCL web of retail outlets, with gas distribution businesses. Subsidies from the latter operations are deposited direct stanley quencher ly into bank accounts.
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Procurement and billing solutions firm Corentric has raised $315 million in capital.The funds, announced Tuesday June 13 , are in the form of a $250 million senior secured asset-based loan revolver from Bank of America and JPMorgan Chase, as well as a $65 million term loan via TCW Private Credit Group. Our ability to obtain this facility in todays intensely difficult credit envi stanley de ronment is a testament to the strength of our business model, Matt Clark, president and chief operating officer at Corcentric, said in a news release. This new capital will allow us to continue to grow our book of business and achieve our goal to give every customer the individualized attention they deserve through best-in-class financial software and expert guidance. The company said it will use the funding for general business growth and to support its managed accounts receivable solutions.Clarks comments about the credit environment comes as both consumers and businesses are feeling a credit crunch.For example, research by PYMNTS and Sezzle found that a significant share of consumers are credit marginalized, which means that theyve been rejected at least once when applying for credit products over the past yearMeanwhile, a recent Federal Reserve B stanley canada oard survey of senior loan officers showed that nearly half of banks had tightened loan standards for small businesses in th stanley website e past three months, with more than half anticipating even more tightening as the year progresses.PYMNTS latest quarterly study Hhjt Square Hopes To No Longer Indulge In Caviar
The consumer reviews service has had enough with the eCommerce giants subsidiary Amazon Local, accusing the company of stealing provider lists and other proprietary information.Angies List filed a federal lawsuit against Amazon late last week in Indianapolis, which alleges executives and other employees at Amazon Local signed up as Angies members in order to copy provider prof stanley website iles, member reviews and other information, The Indianapolis Star reported on Tuesday June 23 .According to t gourde stanley he lawsuit, the information gathered is being used to create a competing service to Angies List.Amazon Local has chosen not to devote the necessary time, resources and effort to compete legitimately with Angie List and to develop its own research to identify and solicit service providers to work with. Instead, Amazon Local and its employees have chosen the shortcut of surreptitiously accessing and misappropriating Angie List proprietary information, the lawsuit alleges.The lawsuit accuses Amazon Local of a myriad of bad behavior, including misappropriation of tr stanley france ade secrets, theft, computer trespass, civil conspiracy, violations of the Computer Fraud and Abuse Act and breach of contract, The Associated Press confirmed.The employees who allegedly stole the information are listed in the lawsuit as codefendants; among them are Amazon Locals product launch specialist, software development manager and several regional marketing consultants and account executives.An
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