Fraud.net Appointed to Federal Reserve/Business Payments Coalition E-invoice Exchange Market Pilot

Fraud.net Recruited for Industry Effort to Develop U.S. E-Invoice Exchange Framework.

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Nov 04, 2021, 13:25 ET

NEW YORK, Nov. 4, 2021 /PRNewswire/ -- Fraud.net, an award-winning fraud prevention and risk management platform, is being trusted "to advance the development, testing, implementation, and interim oversight of the U.S. e-invoice exchange framework," as part of the Federal Reserve's E-invoice Exchange Market Pilot.

Fraud.net's inclusion in this pilot is a testimonial to its experience and commitment to protecting businesses at every step in the payment cycle and its expertise in fraud prevention and risk management. Fraud.net serves a variety of enterprises, including banks, fintechs, and payment platforms, especially assisting in the protection of accounts payable departments against invoice fraud.

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

Hosted by the Federal Reserve and Business Payments Coalition (BPC), the E-invoice Exchange Market Pilot will run through the end of 2022 to "establish an operational B2B exchange framework for the U.S. market in 2023."

To learn more about Fraud.net's expertise in protecting B2B payments across the payment journey, contact us today.

About Fraud.net
Fraud.net operates the first end-to-end fraud management and revenue enhancement ecosystem specifically built for digital enterprises and fintechs globally. The award-winning, cloud-born platform helps organizations of all sizes harness AI-driven risk intelligence to detect fraud, streamline their customer onboarding and transaction monitoring workflows, and leverage real-time, actionable insights to make safer, smarter, and more profitable decisions.

About the Federal Reserve
As the U.S. central bank, the Federal Reserve System provides payment services and seeks to foster the stability, integrity and efficiency of the nation's monetary, financial and payment systems. For more information, visit FedPaymentsImprovement.org.

About the Business Payments Coalition
The goal of the Business Payments Coalition (BPC) is to promote greater adoption of electronic business-to-business (B2B) payments. The BPC accomplishes this objective by addressing barriers that make it difficult for businesses to use electronic alternatives to paper checks, remittance data and invoices. For more information, visit businesspaymentscoalition.org.

SOURCE fraud.net