It’s easy to look at 2020 as the year that wasn’t. Yet, despite the fullness of challenge, so much resilience shored up ongoing opportunity and business continuity. Banks and businesses found, or furthered, digital pivots to transform how they offered services, solutions and experiences to help customers and commercial partners navigate journeys of their own.
As organizations rose to the tasks at hand, the digital transformation of business processes accelerated to accommodate shifting access and delivery models and the universal need for contactless transaction. Banks strove to help their small business customers access critical relief funds and ensure continued operation. Businesses adopted electronic payment platforms to pay and get paid without relying on the in-person, manual handling of paper checks.
Still, the challenges are clear. We also saw an increase in the many forms of fraud as criminals exploited opportunities exposed by the global disruption. In a recent ACFE report, Fraud in the Wake of COVID-19, 79% of respondents reported an uptick in fraudulent activity. This proved to be a catalyst for innovation in the fraud prevention space as technology adapted to identify threats proactively and prevent the diversion of funds.
The takeaway here is that innovation in business and banking didn’t stop, nor did it slow down, in 2020. As a matter of fact, innovation played a big part in keeping the global marketplace a viable one.
We know you’ve been working hard to navigate your own journeys, while preparing for more prosperous new years to come. So in the quiet moments of the season, support your efforts to stay informed with this reading collection of our digital magazines, research reports, podcasts and more from across the year that spotlight the activity and advancements we’ve seen across the payments and banking industries this year.
Give yourself, and your partners, the gift of reading. Share the knowledge, now and always. May a new season, and new year, of health and prosperity light our paths forward in 2021.
Fraud and Financial Crime
- 2020 Treasury Fraud and Controls Survey – now in its 5th year, this report from Strategic Treasurer sheds light on the state of fraud by surveying executives across the globe.
- Uncovering 3 Hidden Liabilities of Business Email Compromise in Banking – this comprehensive guide delves into Business Email Compromise (BEC), a form of fraud that increased by 200% in early 2020.
- AFP 2020 Digital Magazine – this collection, developed for AFP 202 attendees, pulls together resources aligned with the event’s themes: Payments, Risk Management and Treasury Management.
- 2020 B2B Payments Survey Report – this annual survey provides a global view of what’s driving change within the payments industry and how it’s reacting to that change.
- 2020 Business Payments Barometer – this report highlights the trends in the payment industry. Polling companies of all sizes and from all sectors, the report takes the pulse on priorities and concerns for the year ahead.
- 2020 State of ePayables -- presenting a comprehensive, industry-wide view into what is happening in the world of AP from AP, finance and P2P professionals.
- Celent Model Bank 2020 Banking Transformation – in this case study, Celent takes a look at the journey Citizens Financial Group took on its way to a commercial banking transformation.
- The 2020 Guide to Accounts Payable Transformation – this guide takes a close look at the reasons to transform AP function, provides an update on the state of accounts payable today and a path forward to make your department best-in-class.
- Sibos 2020 Digital Magazine – in this collection, you’ll find a wealth of information for banking professionals. Developed in conjunction with the Sibos 2020 event, you’ll find the latest on bank/fintech collaboration, intelligent engagement and more.
- American Banker 2020 Digital Magazine – intended to keep the conversation going, this collection includes insights from banking and finance professionals about the forces shaping the digital banking industry.
For further insight into the payments and banking industries, subscribe now and stay up-to-date on the latest tips, trends, and topics. You can also check out The Payments Podcast, where experts engage each other on the real world factors impacting the payments and banking industries.