The SK Global Software Banking & Treasury Automation Suite is updated, ready and compliant with the newest Release for the Microsoft Dynamics 365 Operations “Spring Release”.
Do you have access to our Partner Portal? Here you may find the newest release ready for download.
Look for the Treasury Automation Suite Version 9.1.2.72
If you don’t have access to our Portal, let us know and we will help you.
What’s new or changed in Dynamics 365 for Finance and Operations?
For a full review of What’s new or changed with the Spring Release, please see Microsoft’s Statement here.
Do notice that with this update, “Dynamics 365 for Operations” is being renamed to “Dynamics 365 for Finance and Operations, Enterprise Edition”.
Staying current with the Banking and Treasury Automation Suite
As a Microsoft Global Strategic ISV its a core policy for SK Global Software to stay current with Microsoft’s general releases and updates. Our aim is to target a supported release of our software within thirty days of a major Microsoft release, where the release requires a new compatible build of our product.
Want to see what our solution can do for you? Schedule a Demo today!
See our new features for yourself – our feature releases in 2017 will take your Accounting, Finance, and Treasury Team to the next level of automation.
The newest Banking and Treasury Automation Suite features are available for Microsoft Dynamics 365 for Finance and Operations and Microsoft Dynamics AX 2012.
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In SK Global Software we are pleased to announce, that we have got, in recognition of our outstanding achievements in sales and service excellence, to be part of the Microsoft Inner Circle 2017.
Why is this an honor?
It is a great honor because this membership recognizes the Microsoft Dynamics partners from around the world, not only based on an outstanding sales performance, but also the critical impact on the success of customers. Inner Circle members have performed to a high standard of excellence by delivering valuable solutions that help organizations achieve increased success with Dynamics solutions.
What is the Inner circle?
The Microsoft Dynamics Inner Circle represents an elite group of the most strategic Microsoft Dynamics partners from around the globe, with sales and delivery achievements that rank them in the highest 1% of the global partner ecosystem, which SK Global Software is now part of.
Innercircle Summit
We are glad to inform, that with this new membership, SK Global Software is participating in the 2017 Innercircle Summit, where only the top 60 global partners and the Microsoft Executive Management share visions, ideas and experiences.
The summit takes place in Quebec City, Quebec from 17th – 20th September 2017.
Become part of a global ISV team – Specializing in Banking & Treasury Automation for Microsoft Dynamics 365/Dynamics AX
Do you thrive in a fast-paced working environment, and do you enjoy being in demand, providing value to clients? We are looking for a Junior Developer to work in our Findlay, Ohio office. If you would like to join a team where your input and experience matters, now is a great opportunity.
SK Global Software is a well-recognized Microsoft Dynamics ISV providing solutions and expertise within Banking, Cash Management, and Treasury Automation for Microsoft Dynamics customers world-wide.
Please submit resumes to CAREERS@SKSOFT.COM
Note: We are only considering candidates who are willing to work in our Findlay, OH office at this time.
Job Description
A junior developer is responsible for maintaining existing product releases, new feature development and working with our support team to solve customer issues. This role requires strong debugging and problem-solving skills. You will be a key part of the team and will be responsible for delivering high-quality solutions and always be looking for ways to improve products and processes.
Skills required:
• Technical skills in programming languages (C#, VB.Net, HTML5)
• Knowledge of Microsoft SQL Server or database concepts experience
• Object-oriented development
• Software Development and Design knowledge or experience
• Familiar with Source control systems and processes
• Proficient with Windows and Microsoft Office tools
• Strong diagnostic and problem-solving skills
• Knowledge of development in Microsoft Dynamics 365 for Enterprise and Operations (aka Microsoft Dynamics AX) a plus
• Knowledge of Accounting and Accounting/ERP systems a plus
Responsibilities include:
• Develop software that meets the requirements of customers
• Provides estimates on work
• Use source control system to maintain code history
• Use issue tracking system to communicate work
• Unit test all work to ensure it is high quality
• Participate in code reviews
• Review product designs and provide feedback
• Understand customer requirements and develop a plan to achieve objectives.
• Make good, timely decisions.
• Contribute creative and innovative ideas for improving processes or products.
• Occasional travel may be required.
Education & Experience:
• Bachelor’s Degree in Computer Science
• 0-2 years experience
It is now easier than ever for companies to reach a global audience. There aren’t as many barriers standing between businesses and their clients, and goods and services can be delivered nearly anywhere.
This doesn’t mean, though, that multinational organizations don’t face unique challenges, and this is especially true when it comes to their accounting and banking needs. Enterprises that provide services in more than one country must have a robust support network in order to make these global transactions work.
Global banking relationships: Technology integration
“Enterprises that provide services in more than one country must have a robust support network in order to make these global transactions work.”
Among the most critical considerations here are the relationships multinational businesses maintain with their banking partners. Companies must have partnerships with both large, expansive banks, as well as smaller, local banks, depending upon their operations and geographic regions they serve. As Treasury Practice Lead Craig N. Martin wrote for the Association for Financial Professionals, managing these relationships can be a challenge.
“Fundamentally, there is an underlying tension between having a wide enough banking group to provide all the services required and a small enough number of banks that can be managed efficiently and rewarded appropriately,” Martin noted.
Not only is this a time-consuming process – which, as Martin pointed out, grows exponentially more time-intensive as the number of banking partnerships an organization has increases – but maintaining these relationships is also incredibly complex.
One way to address these challenges head-on is with an automated banking solution that supports robust integration. In this way, multinational and global organizations can create more effective connections with their banking institutions, enabling important automated functions like vendor payment and customer payment, which we’ll discuss further below.
This level of integration is imperative for global companies. Capabilities like this can considerably simplify management of banking relationships, while also cutting down on the time it takes to reconcile payments – a benefit for business user accountants, their banking partners and the company’s customers.
Streamlining payment with automation
As noted above, automation is key when it comes to supporting global transactions. In the past, critical functions like cash management, vendor payment and customer payments were all done manually by a company’s internal finance team. This wasn’t just considerably time-consuming – it was also problematic for vendor partners and clients as they waited for payment to be matched up and reconciled.
Thankfully, these challenges can be addressed with advanced automation, like that provided by SK Global Software’s leading banking and treasury solution. Global companies should seek out technology that offers:
Unattended reconciliation as well as customizable matching and mapping capabilities for cash management.
Printed check protection and email notification for automated vendor payments.
Auto-matched invoices for processing automated customer payments.
Multinational companies supported by treasury solutions that include these automated functions put themselves in the best position to streamline payments to customers and partners, prevent delays and increase overall satisfaction.
SK Global Software
Staunch security
Finally, multinational companies seeking to better support their global transactions must have robust security and risk management capabilities. In the current threat environment, any company can be a target for hackers, especially those with larger revenue streams spanning multiple countries.
For these reasons, global businesses must have an automated banking suite that includes security for processing payments according to PCI DSS standards, as well as protection against fraud. These measures can help guard against data breaches and fraudulent activity, ensuring that file and payment transfers are safeguarded and customers as well as business finance managers have peace of mind.
Managing global transactions can be a challenge, but with an automated banking solution that supports integration as well as security, multinational companies can put themselves on the path to success. Contact SK Global Software today to find out more.
Going to Microsoft Ignite 2017?
Great, so are we! Meet SK Global Software at Microsoft Ignite 2017 to learn more about how the Banking and Treasury Automation Suite for Dynamics 365 Operations can benefit your organization. Please schedule an appointment already now, at the bottom of this page. We are looking forward to seeing you!
Microsoft Ignite 2017 is a great networking event, with access to the latest technical news and training where you can discover new innovative tools and solutions of the future. Stay ahead of the game, as you network with and draw on expertise from other experts within your own field. Experienced Microsoft Dynamics users and partners will lead instructional sessions, showcases, and how-to’s, focusing on past and current versions of Dynamics 365, Dynamics AX, Dynamics NAV, Microsoft CRM, and Power BI, and much more.
We have recently released the Banking and Treasury Automation Suite for Dynamics 365 Operations Version 9, this is a major update, with significant feature and product additions. If you haven’t yet, please check our post here for more details. At Microsoft Ignite, you have the chance to see the newest features first-hand. Our solutions and expertise cover the following areas:
Treasury Automation Suite for Dynamics 365 Operations
NEW SOLUTION: Credit Card Advantage, handle Credit Card Payments directly from within Dynamics 365 Operations !
Access 1,000+ hours of content at Microsoft Ignite, 700+ sessions, insights and roadmaps from industry leaders, and deep dives and live demos on the products you use every day. Browse 100’s of sessions and start planning ahead; Plan your session here.
Explore the Expo: Get your questions answered from the people who built the products you use everyday. Talk with partners and get free swag! So make sure you will connect with our techies and sign up today and get updated on our solutions and latest updates and learn from peers tackling similar challenges. Share best practices and come home with new ideas.
Meet SK Global Software at Microsoft Ignite 2017
SK Global Software is once again ready to announce a major update and release of the leading Banking and Treasury Automation Suite for Dynamics 365 Operations and Microsoft Dynamics AX.
The new release of the Banking and Treasury Automation Suite, Version 9.1, includes significant feature updates to existing modules as well a brand new product launch added as an optional module within the suite.
The new product, Credit Card Advantage, enables easy and extensive handling of Credit Card Payments with access to numerous payment gateways directly from within Dynamics 365 Operations and Microsoft Dynamics AX. This new product addition lines up naturally with our already existing module ePay Advantage, extending upon the same architecture for taking and automating Credit Card payments within your organization.
The new product and feature additions continually establishes SK Global Software as your one-stop-shop for expertise and solutions for handling and executing Payments- and Reconciliation processes in Dynamics 365 Operations and Dynamics AX.
To help you get an overview of the extensive list of features and updates added, we are happy to present you a quick overview of the most essential updates right here:
Direct Debit
We have now made it easier for you to take full advantage of your Direct Debit arrangements. Enjoy the increased efficiency by automatically withdrawing agreed funds directly from your customer’s bank account. By lowering the number of late payments and avoiding chasing customers can be a significant efficiency gain for most organizations.
With our recent updates you can now manage your Direct Debit Mandates (Agreement to withdrawing funds) within Dynamics 365 Operations. We help ensure your direct communication with your bank(s) or other payment processors, and have added additional validation check-points to increase your efficiency and security when submitting fund withdrawal instructions to the processor.
Did something unexpected happen during the posting of the transaction? Don’t worry, you can unwind/reverse a Direct Debit withdrawal instruction with a one-click button function. Easy!
Key functionality of our Direct Debit module includes, but is not limited to:
Enhanced Direct Debit Mandate support
Enhances Validation of bank formats and field validation during setup
AR Journal exception reporting and field validation
Return file support
Email advice/remittance templates. For instance, add payment currency and invoice currency as variables. You may also add the payment date optionally.
Full Reversal of posted payment transactions
The Direct Debit module is available within the Banking and Treasury Automation Suite for Dynamics 365 Operations and Microsoft Dynamics AX.
Credit Card Advantage
Our new solution for safely handling and processing Credit Card payments from within Dynamics 365 Operations and Microsoft Dynamics AX!
Our newest offering of the Credit Card Advantage solution is now available in our Banking and Treasury Automation Suite for Dynamics 365 Operations and Microsoft Dynamics AX.
This solution enables your organization to easily take and handle Credit Card payment processing from within your system.
With already established direct access to numerous major payment gateways you are ensured the most extensive credit card solution offering in the Microsoft Dynamics channel, trusted by more than 1,500 Microsoft Dynamics companies.
Notice that effective January 1st 2018, Microsoft will discontinue their standard Dynamics Online Payment Services offering, and, in order to mitigate potential business impact is recommending customers to consider payment solutions provided by Microsoft Dynamics ISVs. You may find the official statement via the following: External Link: Microsoft Community Announcement
With Credit Card Advantage you can safely process credit card payments from within several Dynamics 365 modules, e.g. from the Sales Order or the Call Center area. The authorization and processing of payments is safely handled by the cloud based PayFabric engine, which is already handling credit card transactions for more than 1,500 Dynamics customers today enjoying automated and safe payment processing.
Credit Card Advantage and the PayFabric engine is built for and in the cloud, with safe storage of credit card details that can be managed by the customer himself. This allows your staff to leverage a hands-off approach, which combined with the safe storage reduces your PCI compliance scope.
Some of the Key Functionality for Credit Card Advantage includes;
Fully integrated payment solution for Dynamics 365 Operations and Dynamics AX
Processing of Credit Card payments from the Sales Orders or Call Center module.
Safe cloud-based processing of payments via PayFabric
Supports numerous Payment Gateways: WorldPay, CyberSource, PayPal, ChasePaymentech, First Data, and more. These connect to over 70 payment processors! (Ask for the full list)
Supports Level 2 and Level 3 transactions
Allows you to be independent of Payment Gateways
Reduce PCI compliance challenges
Notice that our two modules Credit Card Advantage + ePay Advantage in combination offers a very comprehensive payment solution, with an Online Invoice Presentment Portal, Easy customer self-service handling of Credit Card details (for easier PCI compliance!) and Safe Payment Processing, as well as Automated Reconciliation of payments – all automatically synchronized and safely processed in Dynamics 365 Operations and Microsoft Dynamics AX!
ePay Advantage
ePay Advantage has been updated to version 6.01, also available in the Banking and Treasury Automation Suite for Dynamics 365 Operations and Microsoft Dynamics AX.
Online Invoice Presentment Portal
Automated billing process: Invoices from Dynamics 365 Operations/Dynamics AX are posted to the Online Invoice Presentment Portal, notifying your customer at the same time.
Customer has 24/7 access to Invoices and can submit payment anytime by Credit Card, Debit Card, Bank Transfer, and more.
Customer can manage their own wallet – submitting credit card details stored safely in the cloud.
You enjoy a hands-off approach with no credit card details stored locally – making your PCI compliance a breeze
Payment processing is safely handled and synchronized real-time with Dynamics 365 and Dynamics AX.
Enterprise Bank Reconciliation
We have taken our Bank Statement Reconciliation module to a whole new level.
With the Banking and Treasury Automation Suite for Dynamics 365 Operations, you enjoy fully automated bank statement reconciliation across the entire organization, including all business units, any number of bank accounts, in any country, with any bank.
Among the many new updates we have added a new Bank Statement Screen where your automated import of bank statement files will check for missing statements, duplicate statements, and more. We have also added significant new advanced sub ledger creation rules and advanced settlement features that allow for an even higher degree of matching of transactions and reconciliation of bank accounts.
Enjoy immediate return on your investment with company-wide automation, easily handling high volume transactions and any number of bank accounts.
Some of the Key Functionality for Enterprise Bank Reconciliation includes
Matching Hit Rate %: Get an immediate indicator of how many of your transactions was matched automatically – and as you perfect the matching rules and criteria for your organization, see this go up day by day.
Improved Matching of Unstructured Data:We have enhanced your ability to match unstructured data significantly. Now you can even drop in your own data unstructured data to our new Analyzer Section and let our advanced logic settle thousands of invoices and payments in an instant. See below
New Analyzer Function: The new intelligent analyzer function will help you match transactions more easily. Analyze imported data, even copy/paste data into the Analyzer from a separate document manually, or type it in and let the Analyzer do its magic. No data limitation here!
Improved GL Reconciliation: Reconcile against GL, Customer, or your bank.
Statement Monitor: We have added a new Statement Monitor, checking for bank statements that have been imported, that are missing, or have been duplicated. If you receive just a few statements, or hundred of statements – this gives you an easy overview IF anything is missing and why.
Notice that you will be able to run Bank Statement Processing and Matching of Customer Payments as one single process, and as two separate processes – a separate process may be desired for team purposes, due to types of payments received (Checks and Lockbox functionality needed, etc). We offer both options in the Banking and Treasury Automation Suite for Dynamics 365 Operations and Microsoft Dynamics AX.
Vendor Payments
And finally we have also improved our Vendor Payments processing. With even more validation points we are automatically checking that the correct information is being submitted to your bank for a successful transaction. This makes the payment processing more efficient, avoid waiting for days for the bank to tell you if the transaction went through. You know the correct information was submitted as you processed the payment – Increased efficiency and improved security!
Even if something unexpectedly happened or you want to undo your transaction. That is now easy, we have added a clever One-button feature to unwind/reverse a posted transaction with the click of a button. Now that is easy!
Improved transaction validation
Security ensuring bank account information is correct
One-click-reversal! Did something go wrong, or the payment didn’t go through? Unwind the whole transaction with just 1 click.
Fully integrate your Accounts Payable and payment processing to your bank(s) via the Banking and Treasury Automation Suite for Dynamics 365 Operations today and enjoy a fully automated and streamlined payment execution process!
Want to see it for yourself?
Schedule a demo with us today!
There is a lot to take in, but think about the efficiency you can gain. Take your Accounting, Finance, and Treasury Team to the next level of automation.
The new Banking and Treasury Automation Suite Version 9.1 is available for Microsoft Dynamics 365 Operations and Microsoft Dynamics AX 2012.
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Within the last few decades, a number of transformations have taken place in the financial services industry – from more advanced and secure payment cards to new forms of digital currency, this sector is changing faster than most. What’s more, one of the biggest shifts is still on the horizon – the addition of real-time payment capabilities.
Currently, many financial services institutions are preparing to support real-time payments. As these systems begin to be deployed, it’s worth taking a look at where we stand with this transition and the value real-time payments will bring once fully rolled out.
Progress of real-time payments
The Clearing House’s Senior Vice President Steve Ledford told Forbes the transition to real-time payments will be a gradual process, but the ultimate objective is to get as many institutions involved as possible. The organization is spearheading the rollout of RTP technology across the financial sector in the U.S.
“The ultimate objective is to get as many institutions involved as possible.”
“Our goal is to reach ubiquity as quickly as we can,” Ledford said. “Not all 10,000 banks will sign up at once, but very soon we will do an initial set of early adopter banks – pilot activity around business to business. Then very rapidly we will be ramping up from that point … I think [a] substantial part of [the] country will be covered by mid-2018.”
The Clearing House currently has its real-time payment infrastructure set up in two secure and redundant data centers, each supporting two iterations of the system. In this way, the infrastructure is as reliable and resilient as possible. TCH is also partnering with other vendor organizations to streamline the deployment process alongside rising demands for real-time payment capabilities.
“We are in discussions with partners who can bring in the thousands who want to go live,” Ledford said. “I think [this is] a faster ramp-up of this new payments system than we ever [have] in the past.”
RTP is coming to the U.S. – and fast.
The benefits of RTPs
While there’s typically hesitation toward newer technologies – specifically in the financial services sector, where privacy and data security is key – real-time payment systems are receiving considerable interest from large and small institutions. When one considers the advantages this type of payment can offer, it isn’t difficult to understand the rising demand. Some of the benefits financial institutions and their customers can reap from RTPs include:
Comprehensive communication: JPMorgan Chase pointed out that current, traditional payment systems can leave gaps in communication, especially when it comes to the status of funds. Obtaining this information required the individual to go outside the payment system, where payers and payees had to manually track down payments themselves. This will all become a thing of the past with real-time payments, as the technology supports bi-lateral communication with two-way messaging capabilities. In this way, payers and payees will never have to wonder when or if funds will be received.
Anytime payment capabilities: One of the leading advantages of RTP systems is the fact they are available 24 hours a day, even after a financial institution has ended its business hours. Payments can be processed at any time, meaning there’s no need to wait for the start of a business day for payments to be received.
Consumer analytics potential: RTPs require the use of the ISO 20022 standard framework, a system that can create opportunities for data gathering. According to Accenture, this information can be analyzed to get a better understanding of the customer, helping financial institutions inform marketing and other efforts.
An opportunity to modernize: The financial services industry has historically been bogged down by legacy technology, but RTP systems could provide an important opportunity for institutions to update their IT infrastructure.
A global standard: Accenture predicts that within the next five years, global real-time payments could be possible, creating a more unified financial services industry.
Real-time payments are poised to considerably shift the financial services sector, providing real value for service providers and their customers. However, in order to take full advantage of this technology, it’s important that financial services providers have the right processes and solutions in place. To find out more, contact the experts at SK Global today.
Compliance with the Payment Card Industry Data Security Standard has long been an important part of security planning for businesses. Now that instances of fraud are higher than ever, though, this critical standard is something that companies simply can’t overlook.
There are a number of essential strategies organizations should have in place to prevent fraud, and many of these are built right into PCI compliance. In this way, a compliant business is considerably safer from risks of fraud. Let’s take a look at how PCI standards support efforts to stop payment fraud, as well as the ways in which your business can take this initiative a step further.
1) Holding all organizations responsible
Before PCI DSS was instituted in 2004, there was no existing universal standard that held organizations responsible for the security of sensitive payment details. While many merchants and financial service providers had previously made efforts to safeguard this data, PCI DSS created an overarching standard that holds every entity dealing with cardholder details – including all businesses and service providers that transmit or store this information – to the same, staunch standard.
“A compliant business is considerably safer from risks of fraud.”
In this way, every organization is on the same page, and there are no gaps in security between merchants, financial institutions or other groups that deal with payment card information. This reduces opportunities for malicious activity and fraud.
2) Ensuring encryption for sensitive payment data
The PCI Security Standards Council explained there are very specific security measures required for organizations that store, transmit or in any way deal with cardholder information. One of the most important is encryption. This advanced protection technology ensures that even if an unauthorized individual is able to access a system used to store or transmit sensitive payment card information, this user will not be able to read or use that data for fraudulent purposes. Encryption measures make data illegible to everyone except those with access to the decryption key.
In addition to encryption, organizations must also:
Configure and maintain a robust firewall.
Utilize strong password protection.
Leverage anti-virus programs and ensure regular updates.
Track and monitor access to the network underpinning cardholder data systems.
These protection measures work together to prevent this critical data from falling into the wrong hands.
However, some PCI-beholden organizations prefer to use a cloud-based structure wherein cardholder details are kept off-site, and the business stores an encrypted token within its on-premise architecture. In this way, information is securely protected and inaccessible to unauthorized users.
3) Motivating with non-compliance fines
PCI DSS includes several key requirements an organization must meet before it is considered compliant. These include:
Assessing the data an institution deals with as well as the protections in place to safeguard it.
Addressing any vulnerabilities that might allow for unauthorized access to payment card details and fraud.
Reporting on these efforts to governing bodies.
In order to fully ensure every business dealing with this sensitive information remains compliant and vigilant against fraud, PCI DSS also includes fines for organizations found to be non-compliant. According to Focus On PCI, these can range from $5,000 to $500,000 – not including other costly breach consequences – depending on the severity of the event.
PCI compliance fines can have a big impact on the bottom line.
Going beyond PCI with an automated solution
In addition to the important standards included in PCI compliance, organizations can take their protections a step further with an automated software solution that bolsters fraud prevention. This kind of technology helps ensure fully secure file and data transfers, and provides a compliant framework for credit card payments. Use of a solution like this, alongside PCI requirements, is one of the best ways to help stop fraudulent activity.
To find out more about how an automated solution can benefit your organization in the fight against fraud, contact SK Global Software today.
Become part of a global ISV team – Specializing in
Banking & Treasury Automation for Microsoft Dynamics 365
Do you thrive in a fast-paced working environment, and do you enjoy being in demand, providing value to clients? We are looking for our next Business Consultant to join our fast-growing organization. If you would like to join a team where your input and experience matters, now is a great opportunity.
SK Global Software is a well-recognized Microsoft Dynamics ISV providing solutions and expertise within Banking, Cash Management, and Treasury Automation for Microsoft Dynamics customers world-wide. Our newly established European headquarter is growing, and we need more talented and driven colleagues to keep up with demand!
Job Description
As an SKG Business Consultant, you will use your expertise around Banking and Finance in Microsoft Dynamics 365 and Microsoft Dynamics AX to help leading and guiding our customers through the Planning and Implementation stages of our Banking and Treasury Automation Suite for Microsoft Dynamics AX.
You will be part of our overall Services Team, working with some of the largest Microsoft Dynamics AX implementations in the world. You will have plenty opportunities to work on both local and international projects.
Your expertise will be needed around presales activities, implementations, project management, product support, as well as providing input and feedback to our Product Development Team to constantly improve our solutions.
As a Consultant you will be working closely with the Services Team, the Product Development Team, Support Team and Sales. You will be reporting to our Services Manager of European Markets. You will take over direct customer engagements that need immediate attention in Europe.
Your profile
Personality matters. You are a driven person, capable of working independently and one who will not sit around and wait for instructions. In other words, you are a self-starter who loves challenges.
We are looking for an individual with at least 2-3 years working experience with Microsoft Dynamics AX Financials areas, either as a Consultant or as an End-user. We will train you within our solutions, and do not require experience with specific Banking or Treasury systems.
Experience with one or several of the following areas of Microsoft Dynamics AX Financials is a plus;
General Ledger
Accounts Payable/Vendor Payments
Accounts Receivables/Customer Payments and Collections
Bank Statement, Reconciliation and Closing Period experience.
Bank & Cash management, incl. Bank Communication
Dynamics 365, Dynamics AX 2012, or Dynamics AX2009 experience.
SK Global Software
SK Global Software (SKG), formerly known as Sandler-Kahne Software was founded in 1994. We are a solid Microsoft Dynamics ISV, offering Solutions and Expertise Consulting around several solutions;
Banking & Treasury Automaton Suite for Dynamics 365 and Dynamics AX
Revenue Recognition & Advanced Contract Management for Dynamics 365 and Dynamics AX
Payment Portals and Credit Card Solutions for Dynamics 365 and Dynamics AX
SKG is a well-respected ISV within the Microsoft Dynamics partner channel with more than 22 years experience working with Banking and ERP integration solutions.
Our European Headquarter is based in Copenhagen Denmark, with an additional office in Odense. Our global headquarter is in Houston, TX. We are considered the leading Banking and Treasury Automation solution for Microsoft Dynamics 365, Microsoft Dynamics AX, and Microsoft Dynamics SL in North America.
With our recent expansion to Europe, we are fully intending taking a market leadership role in this region and beyond to become the global leader within our domain. SKGs customer base already counts more than 1500 Microsoft Dynamics customers world-wide, and is constantly growing.
Submit your Application and Resume below:
While not yet implemented in the United States, real-time payment (RTP) technologies are making a splash. The ability to make a transaction that is immediately authorized, posted and settled between companies and banking institutions is exceedingly valuable in the current business environment, where fast payments alongside accurate bookkeeping are crucial.
At the same time, while RTPs offer benefits for businesses and financial service providers, they also carry risks. Incidents of financial fraud rose dramatically after the United Kingdom introduced RTPs in 2007, providing a lesson in security and prevention for U.S.-based organizations preparing for the RTP transition.
Fraud across the pond
After faster payment capabilities were introduced in the U.K, it was as if “Christmas came early” for cybercriminals, Uri Rivner, BioCatch’s head of Cyber Strategy, told PYMNTS.com. Overall, fraud rates tripled between 2007 and 2010, and continued to rise even after stronger authentication measures were introduced. From 2014 to 2015, incidents multiplied by six times.
Faster payments led to greater fraud in the U.K.
This boost in malicious activity came due to a number of factors, including the fact that the timeline for certain authentication and monitoring processes had to be dramatically reduced.
“[I]t’s no longer … let’s have the transaction go through because we have a few hours to a few days to sift through the transactions and look for anomalous ones and then stop them,” Rivner said. “Now the money is in the destination and out (and gone) with haste.”
What’s more, as payment technology grew more sophisticated, so did the capabilities of fraudsters. Even protections like tokenization and smart card readers could be beat by hackers, who obtained the necessary details to crack these systems through browser attacks and other advanced processes.
“As electronic payment methods improve in speed and convenience, so will the speed at which money can be moved fraudulently,” Lipis Advisors founder Dr. Leo Lipis wrote for The Clearing House. “Thus, tackling the issue of fraud will become more important than ever.”
Preventing fraud and preparing for RTPs
The trend toward real-time payments is not limited to the U.K. Across Europe, Web Services as well as XML- and API-based bank communication solutions are growing in popularity, while SEPA Instant Payment is now established and live in Denmark, Norway, Sweden, and Poland. None of these individual technologies are close to achieving standardization or universal adoption, and the complex combination of various forms of real-time payments technology will likely further complicate anti-fraud efforts.
Although RTP systems are not yet accessible to merchants and consumers in the U.S., preparations are underway to enable these capabilities within the next few years. As businesses and financial service providers get ready to support RTPs, they must also put specific security measures in place to prevent an increase in fraud and reduce the overall risk.
“As payment technology grew more sophisticated, so did fraudsters.”
According to Lipis, one of the best protections to utilize with RTPs is multi-factor authentication, where a transaction cannot be sent unless the secondary code is inputted. As it is near impossible for malicious actors to have access to this single-use code alongside a valid username and password, this measure has the potential to considerably reduce incidences of fraud.
Similarly, after the significant rise in fraud, U.K.-based banks discovered advantages to the use of behavioral biometrics within their payment security processes. Behavioral biometrics enable financial service providers to more easily pinpoint the types of suspicious activity attributed to hackers and malicious software. After this measure was put into place, fraud was reduced by 24 percent, according to PYMNTS.com.
Finally, as the shift toward RTP technology continues, it’s imperative for organizations to have a robust automation solution on their side. This technology helps reduce the level of complexity introduced by RTP, ensuring that both older and emerging ISO payment standards are supported. To find out more, contact the experts at SK Global Software today.
