Blogs

Unfortunately, it’s no longer a matter of “if,” but rather “when” payments fraud will impact your business. As you look at your payment strategy, does it minimize your risk to fraud? Like many businesses, your strategy may be highly focused on check payments, the most compromised payment type. Sixty-six percent of businesses said their companies experienced check fraud as part of the 2021 Association of Financial Professionals Payments Fraud and Control Report. While other payment methods have been targets, the risk significantly decreases with others; a breakdown is below. Tools and Best...

Your business probably receives daily invoices for payments. Have you considered the steps, manpower and security of your payment method? Cutting a check can take upwards of ten steps and is very unsecure, while ACH and credit card are quicker and more secure. If the latter two are used less frequently, your business is probably not maximizing your accounts payables process. By developing a solid payments strategy, both your business and your vendors will benefit. You can maximize your ability to earn revenue, improve cash flow and streamline processes with a strong payments strategy in place...

This lumber company is a 115-year-old family-owned company with 24 locations across three states serving everyone from large-scale contractors to DIY homeowners. This company needed more than what most banks can provide. “They’re good people who want to help us grow our business, and we appreciate that.” - President and CEO, Lumber Company President and CEO, “In our industry, payment terms are tight and margins are tighter—maintaining healthy cash flow can be a challenge. We knew solutions to our problems existed, and our bank was able to offer them”. After taking the time to develop a deep...

This company went from zero to $100 million in revenue in twelve months and aims to be a billion dollar company in its first five years. After starting and selling a pair of successful multimillion- and billion-dollar companies that each helped revolutionize the transportation logistics industry, this business owner formed his third enterprise in the private-freight marketplace. “The team is the most important part of any company, especially a startup. I’m proud this bank is on ours.” - Founder and Executive Chairman, Shipping and Logistics Company Past success aside, in the first five years...

Consumers are demanding streamlined, hassle-free payment solutions both online and in person. As consumers increasingly pay less with cash, businesses are turning to an increasing mix of emerging payment solutions to maintain growth. For the most part, consumer preferences are shifting toward mobile and digital payment options. Businesses are responding by investing in ways to improve their payment solutions to accommodate mobile, online and point-of-sale channels. The mix of emerging payments depends on the industry and local markets. But the general trends shown in the most recent survey by...