Fraud.net Named Pilot Member of Federal Reserve Electronic Invoice Exchange and Business Payments Coalition

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Fraud.net recruited for industry efforts to develop an electronic invoice exchange framework in the United States.

NEW YORK, November 4, 2021 / PRNewswire / – Fraud.net, an award-winning fraud prevention and risk management platform, trusts “advance the development, testing, implementation and interim monitoring of the electronic bill exchange framework in the United States“, as part of the Federal Reserve Electronic Bill Exchange Market Pilot Project.

(PRNewsfoto / fraud.net)

Fraude.netThe inclusion of s in this pilot is a testament to its experience and commitment to protecting businesses at every stage of the payment cycle and its expertise in fraud prevention and risk management. Fraud.net serves a variety of businesses, including banks, fintechs, and payment platforms, in particular helping protect accounts payable services from invoice fraud.

“We are honored to have been selected to participate in these direct efforts to further modernize B2B payments. We hope that by offering our experience and specialization to this pilot market, we can help create a solid framework for issuing, verifying and paying invoices. . Fraude.net looks forward to this collaborative effort “according to Whitney anderson, CEO of Fraud.net.

Hosted by the Federal Reserve and the Business Payments Coalition (BPC), the Electronic Bill Exchange Marketplace pilot project will run through the end of 2022 to “establish an operational B2B trading framework for the US market. in 2023 ”.

To learn more about Fraud.net’s expertise in protecting B2B payments throughout the payment process, contact us today.

About Fraud.net
Fraude.net operates the first end-to-end fraud management and revenue improvement ecosystem designed specifically for digital businesses and fintechs around the world. The award-winning cloud-based platform helps organizations of all sizes harness AI-powered risk intelligence to detect fraud, streamline their customer onboarding and transaction monitoring workflows, and leverage using actionable information in real time to make decisions safer, smarter and more profitable.

About the Federal Reserve
As the central bank of the United States, the United States Federal Reserve provides payment services and seeks to promote the stability, integrity and efficiency of the country’s monetary, financial, and payments systems. For more information, visit FedPaymentsImprovement.org.

About the Business Payments Coalition
The aim of the Business Payments Coalition (BPC) is to promote greater adoption of business-to-business (B2B) electronic payments. The BPC achieves this goal by removing barriers that prevent businesses from using electronic alternatives to paper checks, remittance data and invoices. For more information visit businesspaymentscoalition.org.

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SOURCE fraud.net


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