PaymentWorks

Contract Number:
EI00042
RFP or Project Number - Name:
683516 - Supplier Information Management Solution
Agreement Type:
Adopted
Contract Effective Dates:
11/01/2020 - 08/31/2023

The PaymentWorks’ Business Identity Platform eliminates the risk of business payments fraud, reduces cost and ensures compliance by automating complex payee-management processes.

Through the E&I PaymentWorks contract, members can automate the collection and verification of business identity information for all their payees. The platform allows for the continuous monitoring and updating of this information – while thwarting any efforts to hijack an existing vendor record and redirect payments. PaymentWorks protects your institution from business payments fraud and ensures compliance with increasingly intense regulatory requirements and scrutiny.

Contract Highlights:
  • New and existing payees can self-manage changes & updates
  • Automated verifications, including TIN, address and bank account ownership
  • Ensure compliance, Uniform Guidance
  • Interface with any ERP system
  • Fraud prevention, enhanced security, & risk mitigation
  • Reduce costs by shifting from checks to ACH payments
  • 90 day implementation = quick time to value with minimal IT resources
  • Competitive E&I member pricing

Watch Now

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PodcastThe Hidden Risk in Your Vendor Master

More Information

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