Security and Risk Management in Payment Transactions
Alongside smaller companies, there are still many medium and largesized companies that have not yet implemented real-time monitoring of their payment processes. The result? These organizations then fail to discover missing cash until the end of the month. This is often the case despite tried-and-tested digital payment platforms that standardize and automate cash flows being readily available in the market. With such tools, corporations are provided with the necessary controlling and an uninterrupted overview of these cash flows.
For this reason, a central record of all existing accounts and payment governance are indispensable for any company. Moreover, central payment solutions not only provide protection against fraud, but also reduce costs to process payment flows. They also trigger an alarm if unusual transactions occur, making hidden bank accounts and a black economy a thing of the past.