Resolve Common Issues when Applying a Payment towards an Invoice

Abrigo, a leading provider of compliance, credit risk, lending, and asset/liability management solutions, today announced upgrades to BAM+, its financial crimes detection software, including the addition of five transparent artificial intelligence/machine learning (AI/ML) anti-money laundering (AML) scenarios and the ability to direct file Suspicious Activity Report (SAR) and Currency Transaction Report (CTR) batches to FinCEN.Abrigo developed each enhancement to enable users to work more efficiently while handling fewer false positives so they can focus on truly suspicious activity.

With the new upgrade, users will have access to:Direct file SAR and CTR batches to FinCENFive new AI/ML scenariosTwo new structuring scenariosImproved WatchList and 314(a) scans to increase efficiency and customizationUpgraded navigation in the product with a modern user interfaceCustomer Profile Report integrated into BAM+On a recent customer webinar, over 80% of attendees identified direct file with FinCEN, machine learning scenarios, and new structuring scenarios as the upgrades they were most excited about.By enabling direct file of both CTRs and SARs to FinCEN, users can batch upload these critical reports and receive FinCEN acknowledgment of the upload directly within the platform.

This process saves time and ensures that nothing falls through the cracks while alerting to potentially suspicious activity.The new AI/ML scenarios determine typical patterns in behavior and alert when a transaction is different from that normal account behavior.

All five scenarios are based on the same anomaly detection algorithm designed in-house by Abrigo’s product team using the Microsoft ml.net framework.

The models are powered by transparent machine learning models that easily allow the end-user to explain to regulators how they work, a key component to any AML technology.The five scenarios monitor against credit transactions, “other” credit or debit transactions, remote deposit capture, and daily ACH debit.

Similar to other scenarios within BAM+, users can institute specific amount thresholds with each scenario and apply them to user-defined groups.“Abrigo is thrilled to release our ML-based scenarios to our valued customers and partners,” said Dave McCann, Abrigo’s Chief Technology Officer.

As COVID-19 vaccinations help protect our health this year, they’re also expected to inoculate businesses from random shutdowns and layoffs.

Consumers and shop owners are already getting down to business.

Since Americans saved record amounts last year, more than one-third of their disposable income, experts predict they are about to start living, and spending, again.

Economists forecast that travel, dining, and entertainment will come back by midyear.

You can ensure that your business is ready and set to go with these four global Payment Processing Trends.

Lawsyst provides the impeccable legal billing software.

It is the safest and secure mode to deal with your billing and invoices issues.

It also manages your payments affairs.

All your legal billing is just a click away.

The new research report titled "P2P Payments Market, Global Industry Analysis, and Forecast to 2027" gives a detailed analysis and future forecasts of the market.

The report highlights the significant players, including market size, share, and demand, development.

This report further covers the latest trends, technological advancements, and growth opportunities.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.

The major players in the p2p payments market include Tencent, PayPal Pte.

Ltd., Circle Internet Financial Limited, Square, Inc., SnapCash, clearXchange, TransferWise Ltd., Dwolla, Inc., One97 Communications Ltd., and CurrencyFair LTD.S.

This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global P2P Payments Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/p2p-payments-market/download-sampleMarket DynamicsThe growing usage of mobile banking, online banking, and e-commerce by users across the globe is the primary factor driving the P2P payments market.

Summary Global Payments is a global merchant acquiring and payment processing company that connects merchants directly to all major and local card schemes and alternative payment methods through its end-to-end solutions.

The company enables merchants to accept payments through both online and offline channels.

Global Payments offers payment services to 3.5 million merchant locations globally, enabling them to accept payments via 140 payment methods (including digital wallets, card payments, and local and alternative payment methods).

In addition to e-commerce payment acceptance for individual merchants, Global Payments offers the likes of one-click checkout and recurring billing services.

The company supports domestic and cross-border transactions, enabling merchants to reach, convert, and retain more customers.

For offline payments, Global Payments offers an array of traditional point-of-sale (POS) and mobile point-of-sale (mPOS) terminals to merchants in collaboration with Verifone and Ingenico.