Priority Commercial Payments is pleased to announce that their Commercial Payments Exchange (CPX) team was voted as the winners of the Payments HUB Challenge held at the AFP 2019 Treasury and Finance Conference in Boston on October 22.
The objective of the Payments Hub Challenge was to design/offer a real-time payments solution for a representative company. The criteria were:
- Reduce time required to send payments
- Reduce costs associated with outgoing payments
- Deliver a positive customer experience
- Provide better visibility into its AP operation in order to improve accuracy of forecasts
The Priority Commercial Payments team responded to the challenge with our CPX platform and the field was reduced from 17 entrants to four finalists. Each finalist had the opportunity to present their response at the conference, and Allie Klarman, Vice President of Product Management, and Cindy O’Neill, President, presented on behalf of the team CPX team.
The audience, which consisted of financial professionals from banks and other fintechs, voted on the best solution. Priority Commercial Payments was announced as the 2019 AFP Payments Hubs Challenge winner.
In recognizing the accomplishment, Thomas C. Priore, Chairman and Chief Executive Officer of Priority Technology Holdings, said, “We’re proud – but not surprised – that our CPX team won this challenge. In addition to underscoring the value we bring to our customers, financial institutions and marketplace partners, it is a validation of the best in class reputation Priority Commercial Payments is building.”
Association for Financial Professionals (AFP) is the professional society committed to advancing the success of treasury and finance members and their organizations. AFP established and administers the Certified Treasury Professional and Certified Corporate FP&A professional credentials, which set the standards of excellence in treasury and finance. Each year, AFP hosts the largest networking conference worldwide for more than 7,000 corporate financial professionals.
Priority Commercial Payments delivers industry leading solutions and services for integrating commercial accounts payable and a full suite of targeted supplier activation services. We work directly with organizations and in partnership with financial institutions, card networks and other marketplace partners. Priority Commercial Payments unleashes potential value within the payments ecosystem by enabling buyers to benefit from discounts, rebates and incentives, and suppliers to benefit from cash acceleration. Priority Commercial Payments is a division of Priority Technology Holdings, Inc. (PRTH:NASDAQ), a leading provider of commercial payment and merchant acquiring solutions, offering unique products and service capabilities to its merchant network and distribution partners.