Papaya and Applied Innovation Partnered to Allow Payment for ARM

Papaya employs proprietary computer vision technology to make bill payments easy for its customers partnered with Applied Innovation. Papaya is a new-age bill payment platform whereas Applied Innovation is engaged in software development. Applied offers a wide range of solutions to the Accounts Receivable Management (ARM) industry for automating the workflow of the organizations.

Patrick Kann, CEO and Co-Founder, Papaya, said, “At Papaya, our mission is to alleviate the stress of paying bills for American families. We are thrilled to extend Papaya’s bill payment solutions to Applied Innovation and its business customers, and to expand the number of Americans that can now pay their bills with our simple and frictionless experience.”

With this alliance, Papaya’s proprietary “bill understanding technology” will be integrated into the payment portals of customers of Applied Innovation, enabling customers to make payments in real-time by scanning a bill with their smartphones.

Harry Strausser, President of Applied Innovation, added, “Partnering with Papaya is a tremendous opportunity to streamline the accounts receivable management process. The ARM industry has been historically slow to innovate, but we strongly believe alternative payment methods like Papaya are the next step for improving the experience of our business customers, as well as everyday consumers.”

Customers can access consumer-friendly solutions of Papaya via the express features installed in the business customer payments portal of Applied Innovation. Papaya has aligned with many consumers of Applied Innovation comprising PFC.

Derrik Garhart, Senior Director of Recovery, PFC, commented, “Adding Papaya to our payments portal has given our consumers a simple and fast way to pay their bills. At first, I wasn’t sure what consumers would think of newer technology like this, but the response has been overwhelmingly positive, and Papaya is currently used for 50% of all our website payments. It’s always great to offer consumers newer technology, especially more self-service options, and Papaya does just that.”

Read: U.S. Bank and Apex Fintech Collaborated for Real-Time Payments

Rapyd Launches Virtual Accounts for Cross-Border & Local Payment

Rapyd has come up with Virtual Accounts, a product which includes features that enable companies to outreach their footprint across the globe while they can still make local payments. Virtual Accounts, the product has been created in a way that ensures entrepreneurs and vendors across the globe accept local bank transfers in over 25 currencies.

The product allows for faster fund access, and multi-currency capabilities, and streamlines companies and reconciliation of collected payments. Global payments have always been a difficult target to achieve and to make it easy for consumers sitting at diverse places in the world, Rapyd’s Virtual Accounts will help a lot.

Rapyd’s Virtual Accounts acts like a local bank. The London-based organization’s product will reduce operational expenses and transaction fees as well as enable quicker and easier payments.

The Fintech-as-a-service platform asserts that this new product is capable to replace the traditional way of making cross-border wire transfers to a single bank account and maintaining individual accounts for every market.

Khyati Soparkar, Head of Global Product Marketing, Rapyd, stated, “One of the key factors that hold businesses back from expanding globally and reaching the next level of growth is the lack of infrastructure to support local payments. Virtual Accounts provide businesses with the confidence to grow worldwide knowing they have a trusted payments solution in place.”

Rapyd also stated organizations can use multiple Virtual Accounts when required to collect and manage funds across currencies, countries and customer needs. Virtual Accounts can also be coupled with Rapyd Disburse, Rapyd Wallet offerings, and Rapyd Collect apps of Rapyd Payment Network.

900 payment methods in more than 100 countries and global payment in over 200 countries rely on the payment network of Rapyd. Earlier in 2022, the organization acquired Neat, a cross-border trading platform that allows SMBs, and startups to trade on its platform.

Read: ACI Worldwide and Prolific Banking to Operate Digital Banking

 

DataBlend and Fluence Partnered to Streamline Financial Data

DataBlend come into a partnership with Fluence Technologies to enable organizations to create their financial data reports across the companies. DataBlend is a pioneer as an integration platform as a service (iPaaS) provider and helps companies manage their finance and accounting efficiently.

David Furth, CEO, DataBlend, stated, “Fluence and DataBlend share a vision of creating solutions that address the specific needs of finance and accounting professionals. This partnership means mid-market firms can avoid coding and scripting to achieve powerful enterprise data integration and gain time for more important work – all within Fluence.”

Consumers of Fluence Technologies can now use its report builders, and no-code workflow supported by the integration platform as a service (iPaaS) platform of DataBlend to gather and merge data from many sources. The platform comprises native connectors of DataBlend to ERPs like Sage Intacct, NetSuite, Acumatica, on-premise and cloud-based apps. This is a comprehensive and profitable platform engineered to get deployed in a single, finance-driven environment.

Michael Morrison, CEO, Fluence Technologies, commented, “Seamlessly embedding DataBlend with Fluence’s consolidation and a close solution will offer quick time to value for customers that want to automate the movement of data and workflows. This strategic partnership ensures Fluence will continue to provide the single, trusted platform mid-market companies need to consolidate, close and report on all their financials, across subsidiaries, regions, multiple ERPs and more.”

Fluence Technologies is a top player in the cloud accounting and consolidation space. The organization is in the market with an intelligent solution purposely built to be easily owned and managed by finance powered with the most available robust solution in the world of finance.

Moreover, DataBlend connectors comprise ERPs and general ledger (GL) systems such QuickBooks and Xero, Microsoft Dynamics 365 Business Central, and CRMs like Pipedrive, HubSpot, Salesforce, and more.

Read: TechCreate and Diginius Merged to Empower Payments in Asia

A Brief about Integrated Risk Management Platforms

The inability of an organization to maintain the risk management process has contributed to some of the worst economic crises in the world economy. An organization that can manage the risk management process can protect itself from the potential risks. Although, it’s not that easy to handle a segment as wide as risk management single-handedly by any organization but losing insights into risk management is not affordable by any institution at any point in the market.

Because of the immense diversity and depth of today’s risk environment, it’s becoming increasingly crucial for a business to identify the connections between diverse risks and make the best risk management decisions. As a result, firms struggle to achieve their success targets and milestones. Risk management activities can be ineffective and costly since they are primarily focused on risk reduction rather than bringing value to the firm.

Integrated risk management (IRM) is a collection of techniques and processes that enhance evaluation and effectiveness by providing holistic insights into how effectively an organization manages its set of challenges. It is accompanied by a risk-aware attitude and related technology. IRM approach provides an ideal risk control mechanism to provide a comprehensive approach for the analysis, management, and tracking of risks in an organization. As a result, risk management operations must be integrated throughout the firm.

IRM being such a powerful tool enables the financial institutions to monitor and manage the potential risk factors that might affect them soon and eliminate them beforehand. The necessity of one such platform could not be denied and the astonishing features that this platform presents itself with are remarkable and hence makes it a must-required platform for all the organizations.

IRM has proved its worth for the time being and is becoming one such platform to kindle the needs of every organization based on their requirements itself. In the coming time when digitalization is going to dominate the world, the threats associated with it are also going to increase rapidly and this platform is going to be one such savior to cater to the needs of all.

 

Read: Brightwell’s ARDEN Proficiently Stops Financial Fraud