Mastercard Furthers Resources For Small Business Owners with Salesforce Essentials

thechestnutpost | August 05, 2019

Small businesses are often powered by passionate teams behind the scenes, and in today’s digital world, having savvy technology resources can help them achieve their goals. Salesforce joins Intuit in the U.S. Mastercard small business program, as additional world-class partners delivering critical solutions to the small business space. Whether it’s accelerating revenue by finding new customers or better managing customer engagement, these new Salesforce benefits now available across Mastercard Business and Mastercard Business World Elite offerings in the U.S.

Spotlight

Despite their spread and reach, these firms are often underserved by segments of the financial services sector. And in the post pandemic era of unprecedented and unrelenting shocks, this matters. Because good financial management - from cash flow to access to credit - means the difference between success or failure.

Spotlight

Despite their spread and reach, these firms are often underserved by segments of the financial services sector. And in the post pandemic era of unprecedented and unrelenting shocks, this matters. Because good financial management - from cash flow to access to credit - means the difference between success or failure.

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TECHNOLOGY

Experian’s Sentinel™ Commercial Entity Fraud Suite helps lenders and insurers prevent fraud for businesses of all sizes

Experian | November 10, 2022

Experian , the world’s leading global information services company, today announced Sentinel™, a suite of commercial entity fraud detection solutions, to help lenders and insurers prevent fraud and protect small to large businesses. The suite has three solutions Multipoint Verification, Identity Velocity and Commercial First Party Fraud Score. An Experian research report found that more than 70% of businesses say that preventing fraud is their top concern, the highest it’s ever been. With some businesses struggling to keep up with the rapid digital transformation that’s taken place during the past few years, fraudsters are attracted by large loans and a lack of sophisticated commercial fraud detection platforms. Experian’s Sentinel suite may help businesses detect and distinguish different types of entity fraud, including first-party, third-party and synthetic identity fraud. By recognizing the specific types of fraud risk, lenders and insurers can set up the right controls to mitigate fraud and better serve businesses of all sizes. The three solutions include: Multipoint Verification is the first in-market offering to blend commercial credit data with nontraditional data, such as professional social networks, phone numbers and web domains to validate a business applicant. A global credit card issuer saw a 15% increase in fraudulent accounts identified in their small business portfolio leveraging Multipoint Verification in combination with their current fraud tools.1 Identity Velocity is the first entity fraud solution that provides trended data, as recent as 15 minutes from application, to help predict fraud risk. It uses elements, like a business’s name, zip code and tax ID, to deliver real-time insights that may help prevent third-party, synthetic identity fraud and loan stacking by highlighting inconsistencies in applicants’ information. This tool can also provide a better picture of a business’s behavior over time. Commercial First Party Fraud Score is unique in that it blends consumer and commercial credit data to predict the risk of first-party fraud for businesses. The fraud score may help identify early or first payment default and credit bust out scenarios Additionally, Commercial First Party Fraud Score and Multipoint Verification are available through CrossCore®, Experian’s market-leading digital identity and fraud platform. “We’re committed to helping small businesses succeed, and a key piece of that is ensuring they have access to the capital they need,Our new Sentinel commercial entity fraud suite can help lenders and insurers prevent fraud so that funds can go to legitimate businesses that need it and stay out of the hands of fraudsters.” Hiq Lee, president of Experian’s Business Information Services. About Experian Experian is the world’s leading global information services company. During life’s big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organizations to prevent identity fraud and crime.

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BUSINESS STRATEGY

Self Esteem Brands Unveils Partnership, Incentive Program to Increase Franchise Ownership with Minority Small Business Owners

Self Esteem Brands, LLC | November 14, 2022

Self Esteem Brands (SEB), the parent company of Anytime Fitness, Basecamp Fitness, The Bar Method, Stronger U and Waxing the City, today announced a partnership with The J3 Collaboration Project (J3) and a new diversity franchise incentive program to make franchising opportunities more attractive and accessible for black, indigenous and people of color (BIPOC) in communities across the U.S. The J3 partnership and incentive program are key elements of Self Esteem Brands' social impact strategy: With more than 5,000 gyms and studios worldwide, the company is on a mission to enrich the health, wealth and wellbeing of people and communities around the world. Both underscore a commitment to that mission by directly improving Diversity, Equity, and Inclusion (DEI) across its U.S. franchise network of fitness and wellness brands. "Our global footprint and reach mean that diversity, equity and representation are table stakes for our business – but we need to do more to ensure true representation across our U.S. franchise network, As we work to make an impact in minority communities and drive small business ownership, our partnership with J3 and the diversity franchise incentive will help us build that stronger, more representative franchise owner network across our family of brands." Tony Nicholson, vice president of Franchise Development at Self Esteem Brands. The Self Esteem Brands diversity franchise incentive program encourages minority franchise candidates to seek small business ownership of a franchise brand location in the U.S. – Anytime Fitness, Basecamp Fitness, The Bar Method, and Waxing the City. Qualified candidates will receive a reduced initial franchise fee that is $7,500 less than the standard franchise fee. Interested candidates can learn more at https://www.sebrands.com/franchise/. J3, led by co-founders Jennifer Callender, Johnny Romero, and Jack Wilson, has a mission to increase diversity in franchising. J3 works with franchise brands to create an environment where minority community members can thrive through business ownership. (Separate from its work with Self Esteem Brands, J3 also provides a percentage-based discount in the form of a capital grant for each of its clients who start a franchise business.) J3 and Self Esteem Brands are building grassroots connections in communities and relationships with nonprofits like the U.S. Black Chamber of Commerce, Players Coalition, and historically black colleges and universities (HBCUs). Together, they're also making meaningful connections with the right funding resources, real estate partners, and trade shows that work closely with BIPOC communities. Above and beyond the Self Esteem Brands diversity incentive program, J3 and Self Esteem Brands are actively working to develop additional financing opportunities for prospective business owners from underrepresented communities. For example, J3 is currently working with AltCap, a community development financial institution (CDFI) that helps support underserved communities with financing, to help fund and provide technical assistance to minority entrepreneurs interested in franchising with Self Esteem Brands. As champions of diversity focused on improving our underserved communities, Self Esteem Brands is an ideal partner for us," said Jack Wilson, franchise and independent business broker and co-founder of The J3 Collaboration Project. "Through our partnership, we hope to make the dream of minority business ownership a reality. We're excited to help bridge the gap that BIPOC communities face when it comes to franchise ownership, and we're proud to work with a brand that is actively committed to bettering communities. Self Esteem Brands was recently named by Entrepreneur Magazine as one of the "Top 50 Franchise Companies Doing the Most to Champion Diversity." Its social impact strategy aims to further advance its brands and growth with stronger representation across a wider set of communities in the U.S. and worldwide. Our social impact Self Esteem Brands is on a mission to elevate lives: we enrich the health, wealth and wellbeing of people and communities around the world. We aim to do this by investing in people, neighborhoods and communities and groups in ways to help ensure essential and healthy economic & living conditions exist. From thriving small businesses, to social and recreational spaces, to wellness and nutrition services, Self Esteem Brands works to help people improve their personal health and wellbeing. About Self Esteem Brands Our purpose is to improve the self-esteem of the world. Self Esteem Brands (SEB) is the parent company of Anytime Fitness (the world's largest fitness franchise), Basecamp Fitness, The Bar Method, Stronger U and Waxing the City. Combined, most of our more than 5,000 franchise locations are locally operated across nearly 40 countries worldwide by independent, small business owners. SEB is also the parent company to affiliates Provision Security Solutions and Healthy Contributions. Leading with a culture anchored in the values of people, purpose, performance and play, plus a charitable focus through the HeartFirst Foundation®, SEB seeks to enrich the lives of all who interact with our brands and businesses. Our vision is a world of self-esteem for every human to rise from their challenges.

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MANAGEMENT

PrestigPEO Announces Acquisition of Advantage Personnel Resources, LLC

PrestigePEO | January 09, 2023

PrestigePEO, the leading professional employer organization (PEOs), announced the acquisition of Advantage Personnel Resources, LLC (APR). APR, a PEO serving small and medium-sized businesses (SMBs) throughout Florida and Georgia, offers various human resources services, payroll administration, employee benefits, and workers' compensation around the clock. With more than 20 years of history, Gainesville, Fla.-based APR employs a team of seasoned experts with extensive HR and business administration knowledge to support its small business clientele. This deep understanding of SMBs personnel needs, an in-depth business operational expertise and a strong PEO broker network positions APR well within PrestigePEO's growing family of brands. PrestigePEO and APR offer a plethora of essential HR benefits and alternatives to health insurance brokers and their clients. PrestigePEO and APR will work together to maintain the same high levels of client assistance and support while building new partnerships throughout the broker community. As a result of the APR acquisition, PrestigePEO will be able to place additional emphasis on serving SMBs throughout the southern U.S., including Alabama, Georgia, and Mississippi. Furthermore, PrestigePEO brings APR and its clients with state-of-the-art technology and processes, providing them access to a wide range of services such as employee benefits from national insurance carriers, dedicated HR support teams, 401k alternatives and other offerings. APR is PrestigePEO's third acquisition in the last 18 months. Before APR, PrestigePEO extended its service and support offerings and geographic reach by acquiring two more renowned PEOs, PathGoal Employer Services of Raleigh, N.C., and Sunrise, Florida-based StaffLink Outsourcing in August 2021 and January 2022, respectively. About PrestigePEO Founded in 1998, PrestigePEO helps small and mid-sized businesses (SMBs) simplify HR by providing end-to-end support for payroll administration, employee benefits management, workers' compliance, HR guidance, and more. PrestigePEO offers a full spectrum of HR services and solutions to help SMBs minimize employee benefit costs and administrative workloads and manage critical HR functions by merging the power of industry-leading customer service with innovative technology options. It is the recipient of Employer Services Assurance Corporation (ESAC), a PEO company's highest level of accreditation and gold standard for PEO best practices and financial reliability.

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