Neutral Rate Concerns, Goldman Increases Transparency and Auto & Credit Card Delinquencies Trend Higher
In this week’s PeerIQ Industry Update they cover the concerns former Fed Chair Ben Bernanke raised about the neutral rate...
The company provides cloud-based integrated receivables software and is based in India; originally founded in 2006, this is the first external funding round for the company which boasts clients such as Adidas, Starbucks, Proctor & Gamble and more; Susquehanna Growth Equity participated in the funding; Sashi Narahari, Founder and CEO of HighRadius shares their story in the article. Source
Citi and PNC striking a deal with HighRadius is the latest example of banks forming partnerships to improve commercial payments; HighRadius has already done partnerships with Bank of America, Walmart, Johnson & Johnson, Procter & Gamble and Starbucks; HighRadius uses artificial intelligence to help automate some of the slower more paper driven processes in commercial payments. Source.
Bank of America Merrill Lynch says they are implementing HighRadius, an enterprise software AI solution to speed up reconciliation of receivables; they specifically are looking to focus on the bank's largest business clients; HighRadius uses AI, machine learning and optical character recognition to match a payment to a receivable; this will help cut down on some of the labor intensive work and more efficiently be able to send payment reminders to clients; BAML is the latest bank using AI to improve processes and cut cost. Source