SAN FRANCISCO - (11/10/04) More than half of financial executivesacross 20 industries said they will be reducing theirorganizations reliance on checks as a form of commercialpayment. The findings are part of VISA USAs second annualcash management survey, which additionally found that of the 51%who plan to use fewer checks, 40% of that group said they will doso by increasing usage of commercial payment cards. The responsesindicate that a significant and growing perception among financialexecutives is that commercial payment cards play a very importantrole in almost every aspect of the cash management process, VISAsaid. Some key activities companies hope will reduce costsand boost operating efficiency include the increased use ofelectronic payments through cards and the elimination of paperchecks and invoices, it added.
-
Artificial intelligence models are energy hogs. Climate First Bank and UBS are among the very few trying to solve this problem.
2m ago -
The FDIC board debated and ultimately withdrew two separate proposals to address asset managers' control over banks, but acting Comptroller of the Currency Michael Hsu said he couldn't support either and called for more research and debate about how asset managers' control over banks impacts safety and soundness.
1h ago -
The state's Comptroller of Public Accounts is one of several notable non-depositories with access to the Fed's payments system, along with the Chicago Mercantile Exchange and the Tennessee Valley Authority. So why do they have accounts while some neobanks don't?
1h ago -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
1h ago -
While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.
4h ago -
The Jackson, Mississippi, company will use proceeds from the sale of its Fisher Brown Bottrell Insurance unit to restructure its investment portfolio, moving $1.6 billion of low-yield securities off the balance sheet.
April 24