Contract Number: EI00042
Contract Date: 11/01/2020 – 08/31/2024
Agreement: LPA
Renewals: 1 1-year renewal remaining
eProcurement: N/A
RFP Number & Name: 683516 / Supplier Information Management Solution

PaymentWorks

The PaymentWorks contract offers their Business Identity Platform, which enables institutions to automate the collection and verification of business identify information for payees to prevent fraud. Members can eliminate the risk of payments fraud, reduce costs by shifting from checks to ACH payments, and ensure compliance by automating the payee-management processes.

PaymentWorks protects organizations from business payments fraud and ensures compliance with increasingly intense regulatory requirements and scrutiny. Through their platform, members automate the collection and verification of business identity information for all their payees, allowing for the continuous monitoring and updating of this information while thwarting efforts to hijack existing vendor records and redirect payments.

Contract Highlights
  • New and existing payees can self-manage changes and updates
  • Automated verifications, including TIN, address, and bank account ownership
  • Ensure compliance, Uniform Guidance
  • Interface with any ERP system
  • Fraud prevention, enhanced security, and 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

More Information

If you would like more information, submit this form and your E&I Member Representative will be in touch with you shortly.

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