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In today’s digital landscape, payment fraud is a growing concern for businesses. With evolving threats and sophisticated fraud techniques, organizations must leverage the right data points to detect and prevent fraudulent transactions effectively. In a recent webinar hosted by IOFM and sponsored by apexanalytix, Matthew Morookian, Director of Product Marketing discussed 15 key data points that can help organizations gain...

    15 Data Points to Identify and Prevent Payment Fraud Payment fraud costs organizations billions every year, but prevention is possible with the right strategies. This webinar is specifically designed for Finance, Compliance and Internal Audit practitioners to identify fraud schemes currently hidden in your organization and prevent future fraud attempts. Learn how to safeguard your organization with actionable...

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Overview A global company with $100 billion in revenue and a vast network of vendors faced severe fraud challenges, caused by compromised email credentials and outdated manual processes.  To address these vulnerabilities, the company collaborated with apexanalytix to introduce automated security measures. Key solutions included our supplier-facing portal for onboarding and our robust bank account validations across multiple countries. These...

This new advancement in fraud prevention protects login credentials from cyber criminals even when a supplier’s network or email system is compromised. GREENSBORO, N.C. – APRIL 22, 2024 – Today, apexanalytix, the leading provider of global supply chain risk management data, software and services, announced the launch of Passkeys. This industry-first feature enables suppliers to securely log into their accounts...

With the rise of deepfake video and audio technology, fraudsters have begun impersonating internal employees and suppliers to change supplier bank account numbers and hijack payments. To combat this, Danny Thompson, SVP of Market and Product Strategy at apexanalytix, recommends using real-time bank account ownership validation whenever a change is made to a bank account number. Read the complete article...

It’s time for accounts payable teams to be on high alert, says Danny Thompson, VP of apexanalytix. With normal business routines disrupted by COVID-19 and many vital employees out of the office, cybercriminals are seizing on the opportunity. These bad actors are launching scams designed to divert legitimate supplier payments into fraudulent bank accounts. In an article authored for the...

Healthcare organizations are under increased pressure to delivery high quality care while reducing costs and complying with all regulatory controls. Northwestern Medicine is an integrated healthcare system with physicians, researchers and patients as stakeholders and an extensive mix of suppliers to support them. How can a supplier portal help them achieve their mission to excel in academic distinction, scientific discovery...