Financial Operations Networks (FON)’s Post

If it feels like your AP department is under siege by fraudsters, you are not alone. Increased risk of fraud is the biggest challenge that AP leaders say they face these days according to the Institute of Finance and Management (IOFM). VendorInfo can help you stop fraudsters in their tracks. VendorInfo's Bank Account Verification solution verifies that the bank account you are sending funds to belongs to your supplier – and not a scam artist. ... Authenticate the owner of an account in real time ... Validate that the account is open ... Ensure that the account is in good standing ... Validate account owner name, address and taxpayer identification number Learn how you can mitigate your risk of making payments to a fraudster’s bank account with automated bank account validation. Visit www.vendorinfo.com.

If it feels like your AP department is under siege by fraudsters, you are not alone. Increased risk of fraud is the biggest challenge that AP leaders say they face these days according to the Institute of Finance and Management (IOFM). VendorInfo can help you stop fraudsters in their tracks. VendorInfo's Bank Account Verification solution verifies that the bank account you are sending funds to belongs to your supplier – and not a scam artist. ... Authenticate the owner of an account in real time ... Validate that the account is open ... Ensure that the account is in good standing ... Validate account owner name, address and taxpayer identification number Learn how you can mitigate your risk of making payments to a fraudster’s bank account with automated bank account validation. Visit www.vendorinfo.com.

How vulnerable are your #AP processes to fraud? The answer is likely unsettling if your organization relies on supplier phone calls and emails, and other conventional approaches to verify bank account change requests. According to the 2023 Association for Financial Professionals Payments Fraud and Control Survey, 65% of organizations were victims of payment fraud attacks/attempts in 2022. Verifying bank account ownership is riskier and more complex and time consuming than ever. Interested in learning how automated bank account verifications can fortify your finances and mitigate your risk of payment fraud? Learn how VendorInfo’s onboarding, compliance and bank account verification solution can help you spot fraudulent bank account change requests and beat fraudsters at their game. Visit www.vendorinfo.com.

How vulnerable are your AP processes to fraud? The answer is likely unsettling if your organization relies on supplier phone calls and emails, and other conventional approaches to verify bank account change requests. According to the 2023 Association for Financial Professionals Payments Fraud and Control Survey, 65% of organizations were victims of payment fraud attacks/attempts in 2022. Verifying bank account ownership is riskier and more complex and time consuming than ever. Interested in learning how automated bank account verifications can fortify your finances and mitigate your risk of payment fraud? Learn how VendorInfo’s onboarding, compliance and bank account verification solution can help you spot fraudulent bank account change requests and beat fraudsters at their game. Visit www.vendorinfo.com.

How vulnerable are your #AP processes to fraud? The answer is likely unsettling if your organization relies on supplier phone calls and emails, and other conventional approaches to verify bank account change requests. According to the 2023 Association for Financial Professionals Payments Fraud and Control Survey, 65% of organizations were victims of payment fraud attacks/attempts in 2022. Verifying bank account ownership is riskier and more complex and time consuming than ever. Interested in learning how automated bank account verifications can fortify your finances and mitigate your risk of payment fraud? Learn how VendorInfo’s onboarding, compliance and bank account verification solution can help you spot fraudulent bank account change requests and beat fraudsters at their game. Visit www.vendorinfo.com.

How vulnerable are your AP processes to fraud? The answer is likely unsettling if your organization relies on supplier phone calls and emails, and other conventional approaches to verify bank account change requests. According to the 2023 Association for Financial Professionals Payments Fraud and Control Survey, 65% of organizations were victims of payment fraud attacks/attempts in 2022. Verifying bank account ownership is riskier and more complex and time consuming than ever. Interested in learning how automated bank account verifications can fortify your finances and mitigate your risk of payment fraud? Learn how VendorInfo’s onboarding, compliance and bank account verification solution can help you spot fraudulent bank account change requests and beat fraudsters at their game. Visit www.vendorinfo.com.

How vulnerable are your AP processes to fraud? The answer is likely unsettling if your organization relies on supplier phone calls and emails, and other conventional approaches to verify bank account change requests. According to the 2023 Association for Financial Professionals Payments Fraud and Control Survey, 65% of organizations were victims of payment fraud attacks/attempts in 2022. Verifying bank account ownership is riskier and more complex and time consuming than ever. Interested in learning how automated bank account verifications can fortify your finances and mitigate your risk of payment fraud? Learn how VendorInfo’s onboarding, compliance and bank account verification solution can help you spot fraudulent bank account change requests and beat fraudsters at their game. Visit www.vendorinfo.com.

Automate Bank Account Verifications to Reduce Payment Fraud When it comes to vendor banking information, our customers tell us: Verifying bank account ownership is crucial to mitigating the risk of payment fraud. But … procedures for verifying banking information, including phoning the vendor, requiring confirmation letters from a vendor’s bank, obtaining voided checks and confirming known information are inefficient and tedious. Collecting bank account information by email is riskier today than in the past. Now, with VendorInfo’s bank account verification module, businesses can put a stop to tedious, time-consuming procedures, reduce risk and eliminate data entry. Your vendors can complete and electronically sign bank account information forms, with automatic verification of: ... Account Name ... Address ... Bank Account Number ... Routing Number ... Tax Identification Number Want to reduce your company’s risk of payment fraud? Visit www.vendorinfo.com to learn how VendorInfo can automatically verify bank account information for new vendors or vendors changing their bank account details.

Automate Bank Account Verifications to Reduce Payment Fraud When it comes to vendor banking information, our customers tell us: Verifying bank account ownership is crucial to mitigating the risk of payment fraud. But … procedures for verifying banking information, including phoning the vendor, requiring confirmation letters from a vendor’s bank, obtaining voided checks and confirming known information are inefficient and tedious. Collecting bank account information by email is riskier today than in the past. Now, with VendorInfo’s bank account verification module, businesses can put a stop to tedious, time-consuming procedures, reduce risk and eliminate data entry. Your vendors can complete and electronically sign bank account information forms, with automatic verification of: ... Account Name ... Address ... Bank Account Number ... Routing Number ... Tax Identification Number Want to reduce your company’s risk of payment fraud? Visit www.vendorinfo.com to learn how VendorInfo can automatically verify bank account information for new vendors or vendors changing their bank account details.

Automate Bank Account Verifications to Reduce Payment Fraud When it comes to vendor banking information, our customers tell us: Verifying bank account ownership is crucial to mitigating the risk of payment fraud. But … procedures for verifying banking information, including phoning the vendor, requiring confirmation letters from a vendor’s bank, obtaining voided checks and confirming known information are inefficient and tedious. Collecting bank account information by email is riskier today than in the past. Now, with VendorInfo’s bank account verification module, businesses can put a stop to tedious, time-consuming procedures, reduce risk and eliminate data entry. Your vendors can complete and electronically sign bank account information forms, with automatic verification of: ... Account Name ... Address ... Bank Account Number ... Routing Number ... Tax Identification Number Want to reduce your company’s risk of payment fraud? Visit www.vendorinfo.com to learn how VendorInfo can automatically verify bank account information for new vendors or vendors changing their bank account details.