Stronger Banking Security Is Here – And Nimbus Is One Step Ahead
Stronger Banking Security Is Here – And Nimbus Is One Step Ahead
As banks tighten their security, businesses are under pressure to keep up – facing stricter payment rules and increasing fraud risks.
At Nimbus, we’re responding to both external and internal threats by enhancing our system in ways that make life easier for our clients, not harder.
Here are two key developments that could make a big difference to your business:
1. Bank Name Matching – A New Headache for Bulk Payments
Banks are now rolling out name validation for payments. That means the name you provide must match exactly with what is registered at the bank – or the payment may be rejected.
For businesses processing hundreds of creditor payments, this can quickly become a major admin burden.
Nimbus has a solution:
We have created a new Payment Summary Report and DC File for export that includes the full payee’s name. Importing it into your banking system lets the correct name flow through automatically. This cuts down on rejections and saves you hours of manual checks.
2. Guarding Against Internal Security Breaches
Recent headlines show security breaches due to unauthorised changes in banking info. This is a good reminder to check your internal safeguards.
Some clients have expressed concern about the potential misuse of employee access, particularly when it comes to changing banking details on creditor records, either when setting up a new creditor or updating an existing one.
To help you stay one step ahead:
Nimbus has set up email alerts for any changes made to key tables, including creditor banking details. These alerts give you quick visibility. They also connect to detailed audit trails. This lets you see who made changes and when.
Why it matters:
Nimbus dedicates itself to keeping your system secure, smart, and easy to use. This includes staying updated with changing bank rules and protecting against internal fraud.
Take control of your banking security today.