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Industry roundup: 30 April 2020

BankiFi launches white label Request to Pay option

BankiFi has launched a solution to support banks and payment providers in their quest to offer a relevant end-to-end service for their small business segment. RTP4 is available as a service to any payment services provider through their own banking channel or as stand-alone app.

RTP4 enables banks and payment providers to offer their own Request to Pay solution, rather than waiting for, or ahead of, joining an opt-in messaging scheme. The white label service includes a set of value adds such as: Communicate (rich dialogue between buyer and seller and bank), Choose (options for both Payers and Payees on terms, nudges and service), Collect (payments of any type) and Consolidate (data to any accounting, source or destination system). Banks and PSPs benefit from these real-time insights in their business clients’ relationships, which can allow them to offer additional services like lending, invoice financing and many more - digitally and securely.


Refinitiv offers free supply chain due diligence checks to health sector

Refinitiv has announced it will offer hospital groups and governments free due diligence reports to help tackle problems with their supply chains resulting from COVID-19. In the search for important PPE, the reports will help with sourcing and on-boarding new suppliers by assisting in un-earthing opportunistic fraud schemes targeting the healthcare industry, as they scramble to acquire medical supplies.

In March, the FBI warned healthcare professionals of the increased fraudulent sales of COVID-19-related medical equipment. In the UK, the Medicines and Healthcare products Regulatory Agency warned of a disturbing trend of criminals who are taking advantage of the COVID-19 outbreak by exploiting the high market demand for personal protection and hygiene products.

With the global supply chain experiencing significant disruption and medical needs crucial, it is imperative that healthcare providers can continue to deliver necessary patient care. The offer of free enhanced due diligence reports is available to hospital groups and government agencies who are sourcing critical personal protective equipment to battle the global COVID-19 pandemic.

The reports from Refinitiv provide detailed background checks on individuals and entities, helping compliance teams comply with anti-money laundering, anti-bribery and corruption regulations, optimise the due diligence process, and protect company reputation.


Schneider targets enhanced carrier payment process

Schneider, a provider of trucking, intermodal and logistics services, says it has implemented more options to improve the carrier experience. The firm has added capabilities from TriumphPay, a payment processing platform for brokers and shippers, and Transflo, a business process automation and digital communications provider. The company hopes that by combine both TriumphPay’s and Transflo’s expertise on its brokerage platform, it will accelerate transactions and expedite third-party carrier payments.

Carriers that still use traditional, paper-based methods to submit delivery paperwork know that it takes 8-10 days before shippers receive the information and begin processing payment - and up to 40 days to get paid. Schneider says that its Transflo/TriumphPay pairing shrinks that timeframe to as little as two days.

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