Cisco Systems Honored with Treasury Management Award Using AutoPay
Cisco Systems, the global technology leader that has been making the Internet work since 1984, was highly commended by Treasury Today magazine’s Adam Smith Awards for Best FinTech Solution, using ICD’s AutoPay. This secure technology enables ICD clients to authorize trade execution and trade settlement with a single mouse click, improving efficiency and minimizing risk.
Cisco Portfolio Manager Chris Newman noted, “The automation functionality delivered by AutoPay allows our team to commit fewer resources to outdated settlement procedures while increasing our focus on risk management and improving investment returns.”
ICD Awarded Patents for AutoPay Technology
ICD received notification from the US Patent and Trademark Office that AutoPay was awarded three utility patents, covering its innovative security processes and the TrueMark Encapsulated Security Token technology.
In the 2019 AFP Payments Fraud and Control Report, 82% of organizations reported incidents related to payments fraud. ICD’s AutoPay mitigates the risk of cybercriminals, rogue traders and/or human error of sending funds to unapproved destinations with this patented technology.
“We are also thrilled with the recent issuance of patents tied to the underlying functionality of AutoPay. The ICD Technology team worked very closely with Cisco to bring this game-changing technology to the market, which is now used extensively throughout ICD’s client base,” – Tory Hazard, ICD CEO.