Lyons Blog

  1. Challenges with ACH Processing

    Every business wants to increase profitability while reducing losses, and Automated Clearinghouse (ACH) payments processing promises to accomplish both those goals. Using the service requires an enhanced understanding of the underlying technology, however, so a little learning before implementation can prevent future challenges, or at least reduce their severity. (more…)

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  2. Cross Border Payment Fraud

    The advent of online technology has brought substantial benefits to businesses, allowing them to access new markets across borders. But as banking technology becomes more complex and fast-moving, fraud also increases in scope. Cross-border transactions present numerous pathways for fraudulent activities.

    It’s a challenge for businesses to optimize revenue and minimize losses while controlling operational costs, as they move into different geographical areas. (more…)

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  3. Meeting KYC RequirementsPrevention of money laundering has always been a priority for federal regulators, and over the past two decades, the focus has been centered on keeping cash out of the hands of potential terrorists. The Know Your Customer (KYC) framework was originally developed to deter financial crimes, and it is still one of the most effective tools in use today. However, the digital revolution has made KYC requirements to meet. Customers expect the convenience of conducting business online, but the anonymity of web-based transactions can make meeting KYC parameters difficult. (more…)

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  4. Managing Risk with Faster PaymentsWith ACH now offering same-day credits and debits, business cycles are speeding up as a result. However, since a faster pace can also mean more mistakes, it is important to know how to identify the risks and mitigate them when speeding up the sales cycle. European payment processing companies are now advertising real-time settlement options, but faster does not always mean better. Increased liability issues and fraud risks make speed in payment processing a risk, so it is crucial to implement faster payments in ways that improve the customer experience and follow industry best practices. (more…)

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