X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

To combat fraud, companies are rationalizing their banking relationships and moving away from checks to digital payment solutions. But they’re doing so slowly.

That’s a key finding of the recent “SunGard B2B Payments and Bank Connectivity Study.” Nearly 400 treasury and finance professionals from around the world responded to the survey. Among those with more than $1 billion in annual revenue, 15 percent said their company uses paper checks more than any other payment method. Checks were supplanted years ago as the most common payment method; this year, electronic funds transfer (EFT), wire, and Automated Clearing House (ACH) were each cited by around a quarter of respondents as their most prevalent payment method (see Figure 1, below). Still, the companies that remain check-heavy are making more than 20 million payments per year via paper checks, putting those organizations at significant risk of check fraud.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

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 © 2021 ALM Media Properties, LLC. All Rights Reserved.