Today In B2B: UK Debt Collectors Eye SMB Aid Recovery; ActiveWorx Launches B2B Payments Optimization Tool
Today in B2B payments, ActiveWorx launches its B2B payment optimization tool, while PayJunction debuts an eInvoicing feature. Plus, U.K. debt collectors seek a bigger role in recovering SMB aid, Fides expands bank connectivity for treasurers and jobless claims dip slightly.
ActiveWorx, Inc. has rolled out B2B payments optimization offerings on its platform. The launch of the company’s payment functions will address ongoing corporate payment processing hurdles with process automation software and payment services that harness artificial intelligence (AI) and advanced machine learning (ML), according to an announcement. “With integrations to multiple payment processors, the ActiveWorx platform now offers corporate payment capabilities in various formats, including international payments, to more than 120 foreign countries,” William Bridgers, senior vice president of payment services, said in the announcement.
Payment processing technology developer PayJunction has rolled out a digital invoice function for companies that harness its virtual terminal offering, according to a Thursday (Jan. 7) announcement. PayJunction says the functionality has been proven useful for companies such as law practices and veterinary clinics that have moved to curbside and virtual video sessions to help curb face-to-face meetings amid the pandemic, according to the announcement. Billing workers who are on-site or who telecommute can sign in from any “browser-connected” device, according to the company. These workers can create an invoice, input particulars, connect it with a client’s work order or file, and electronically send a request for approval and payment.
Fides Treasury Services, which works in multibank connectivity and communications, has rolled out new details about its plans to extend its shop for corporate treasury and finance solutions, according to a press release. The new marketplace will be available through the Fides Multibanking Suite web portal, the release stated. The suite gives corporate treasury and finance professionals a new level of visibility into banking transactions and connections, with a security measure no matter where it’s accessed. The tool can be used to control administrations and approvals, with a lone sign-on and “intuitive” user interface, according to the release, and it can help with saving time and providing visibility.
U.K. debt collectors want the government to give them a bigger role in recovering the debts from the 44-billion-pound (about $60 billion) business rescue program, the Financial Times reported. The Treasury has faced questions as of late over how to minimize the losses for taxpayers under the scheme. FT reported that the government provided 100 percent guarantees for banks in order to help encourage them to lend quickly to small- to medium-sized businesses (SMBs) in need due to the pandemic’s economic effects. That scheme has helped around 1.4 million SMBs, and was seen as instrumental in saving thousands of them from collapsing under virus-related lockdowns.
Initial jobless claims for the week that ended Jan. 2 dropped 3,000 from the previous week’s revised level for a total of 787,000, according to the latest report from the U.S. Department of Labor (DOL) on Thursday (Jan. 7). The previous week’s total was revised from 787,000 to 790,000. For the week that ended Dec. 26, the advance number for seasonally adjusted insured unemployment was 5.07 million, a decrease of 126,000 from the previous week’s revised level. “Momentum has weakened in recent months, a trend that will likely persist in the near term,” Rubeela Farooqi of High Frequency Economists told Yahoo! Finance. “Risks to the labor market are skewed to the downside from a deteriorating health backdrop that will impact business activity.”