The Office of Foreign Assets Control (OFAC) administers and enforces economic sanctions based on U.S. foreign policy. The goal is to enforce national security against targeted individuals and entities such as:
SWIFT payments are transactions made through an intermediary bank that allows you to send/receive electronic payments internationally. The SWIFT network doesn’t actually transfer funds but instead, sends payment orders between banks using SWIFT codes. It’s a means to transfer money overseas quickly, accurately, and securely.
The strategic sourcing process enables a business to assign value to sourcing decisions by building a diverse supply base. It’s about not putting all your eggs in one basket, as they say, and keeping your options open. Strategic sourcing is a collaborative process that improves efficiency and streamlines operations.
ACH software allows a business to easily create and transmit ACH files. Also called “treasury software,” an ACH payment solution provides a secure, reliable, and timely means of processing credit and debit transactions. The platform functionality helps to maximize your bank’s profitability and elevate the customer experience.