Friction-free payments + costs to Canadian businesses | Lauren Fleming & Jan Pilbauer

Welcome to The PayPod podcast, a multi-episode series of everything to do with Canada’s ambitious payments modernization mission. In this inaugural episode, Justin Ferrabee and Jan Pilbauer of Payments Canada are joined by Lauren Fleming, a financial services advisor from Ernst & Young who recently completed a study for Payments Canada that, among other insights, quantified that the manual matching of payments to invoices cost businesses billions of dollars a year. Lauren explains how, according to the study, a good portion of between $3 and $6 billion dollars annually, currently invested in reconciling account receivables and payables, could be eliminated, ushering in a new wave of service and product innovation among fintech and paytech companies.About The PayPodThe PayPod is Payments Canada’s multi-episode podcast that explores the trends and topics influencing payments in Canada and around the world.In each episode, leading experts and respected thought leaders discuss the changing payment landscape, the needs of Canadians and the future of modern payments.Connect with Payments CanadaVisit our website: Explore payment research, news system updates and insights at payments.ca.Join the conversation: Follow Payments Canada and The SUMMIT, Canada’s annual premier payment event on LinkedIn. Subscribe: Never miss an episode by subscribing to The PayPod on your Apple Podcasts and Spotify.