Small suppliers often find themselves waiting weeks, sometimes even months, to access the payments they’re due for goods or services rendered. A conservative estimate from PYMNTS shows that SMBs are waiting on around $1.3 trillion in collective, unpaid invoices at any given moment. By no...
IBM is partnering with FinTech startup MonetaGo to tackle trade finance fraud, and it will set its sights first on Southeast Asia, according to a press release. MonetaGo offers a secure financing solution that works to lower the risks that are associated with duplicate financing...
In trade finance on a global level, there’s a form of fraud known to exist but is hard to quantify because it’s only discovered when someone gets caught. It’s called duplicate financing fraud and it works like this: Because lenders have their own data systems...
Today in B2B payments, MonetaGo is fighting financing fraud and Visma could go public in 2023. Plus, the Chinese government forces Ant to reconfigure its loan business, Papaya Global lands $250 million for cross-border payments and Billogram grabs $45 million to expand its digital invoicing...
September 22, 2021
In trade finance on a global level, there’s a form of fraud known to exist but is hard to quantify because it’s only discovered when someone gets caught. It’s called duplicate financing fraud and it works like this: Because lenders have their own data systems and don’t share customer info, bad actors have been able […]
