X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

For decades, wire transfers have been the quickest, most reliable, most expensive and dumbest way to make payments. Using wires isn’t dumb. It’s the wires themselves that are, with their tiny data fields and inability to convey more than bare-bones information about payments. “We get high-value wires to settle multiple invoices,” reports Christy Barwick, a Microsoft senior manager in corporate finance, “but the information we need to auto-post or apply the cash is not there. Even when the payer sends it, it gets cut off by the short data field.

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2019 ALM Media Properties, LLC. All Rights Reserved.