As we bid farewell to 2024 and look forward to the opportunities and promises of 2025, we take a moment to reflect on our most loved content from the past year. Covering banking innovations and deadlines, advancements in corporate payment solutions, and key insights into fraud prevention strategies, each of these highlights the importance of keeping pace with the changing financial landscape. To stay in the know, you can also subscribe to the monthly Payments Newsletter.
1. ISO 20022: Reckoning with change in the global payments system
For the world's payment players, the migration to ISO 20022 is essential. Adopting this single, open, global standard for financial messaging is a catalyst for change and a must for real-time payments and cross-border efficiencies. Industry experts Mike Chambers and Frederic Viard give us more insight. Tune in here.
2. Countdown to the ISO 20022 US Deadline
Already adopted in the UK and Europe, ISO 20022 will become the single universal language for all financial transactions. It's a powerful shift to modernize legacy payment rails, ensuring interoperability across borders. With a March 10, 2025 deadline, pressure is now on the US banks to migrate. We consider the current landscape and implications for the banks yet to migrate. Read it here.
3. Evolving Trends in Payments, Policy, and Regulation
The Electronic Transactions Association (ETA) is the primary advocate for business payments in the United States and Canada. It plays a crucial role in steering the trajectory of payments across various elements. We chatted with its CEO, Jodie Kelley, who shared her insights into the most significant trends in business payments. Listen here.
4. Top 5 Cash Management Challenges and How to Address Them
Accurately tracking inbound and outbound cash is the essence of good cash management and determines whether a company is, and can remain, financially stable. But that's sometimes easier said than done. Tom Dolan considers the potential obstacles hindering this insight for financial and treasury teams. Read it here.
5. Insider Fraud: Who’s Playing Hide and Seek with Your Money?
Despite advances in threat detection, uncovering insider fraud threats continues to be a challenge for banks and businesses. In this podcast episode, Nick Griffin dives into the tough task of identifying and addressing malicious individuals within organizations. Listen here to learn about the essential capabilities of an effective Insider Threat Management solution.
6. UK Moves to Regulate Operational Resilience for Business Services
Everyone needs a plan B, even banks and insurance companies. In the UK, business continuity for payment networks is regulated by a series of mandates under SS1/21. We dive into what lies ahead. Read more here.
7. Tracking the changing role of the corporate treasurer
The spotlight is on the treasury department. In this episode, we catch up with Guillaume Jouvencel from Corporate Treasury 101 on the significance of the treasurer's role and how that's becoming far more strategic. We consider the challenges and advantages of technology changes, obstacles to overcome, and three key areas of focus for treasury teams going forward. Listen here.
8. Check Fraud Is Up Nearly 400% and FinCEN Points to Banks
Fraudsters are resorting to traditional methods with the increase in mail theft and check fraud. According to a recent report from FinCEN, there were over 15,000 reports of suspicious activity totaling more than $688 million related to check fraud. This serves as a reminder that old scams never fade away, but with advancing technology and human vigilance, we can stay ahead of the game. Read more here.
9. Instant Payments Adoption in the US
Real-time payments have prompted financial institutions to modernize their operations to meet commercial and retail customer needs. On the back of FedNow's 1st birthday, Jessica Cheney talks to us about adoption rates in the US market and the compatibility between the Clearing House's RTP and FedNow's Instant Payments services. Listen here.
10. 5 Ways Automating AP Optimizes Working Capital
This podcast episode discusses how accounts payable (AP) automation can enhance working capital and reduce costs. Our guest, Mark Brousseau from Brousseau & Associates, shares insights on minimizing overhead, improving cash flow visibility, and optimizing the Days Payable Outstanding (DPO) metric. He also highlights the missed opportunities for companies that do not automate their AP processes. Tune in here.
We are excited about what 2025 has in store for us all. To help you stay informed, keep an eye out for our 2025 Payments Outlook and Trends content. Also, consider subscribing to our monthly Payments Newsletter, which offers essential insights on fraud, banking, and payments from trusted industry experts.