PORTFOLIO Why business payments need speed Payments The timeliness of B2B payments raises the stakes for all parties involved, as a missed or delayed payment can cause a ripple effect across a business and its network. But how can community banks speed up these payments? And what are the challenges they'll need to solve? By Karen Epper Hoffman any a consumer has claimed that " the check is in the mail " in response to a long-delayed payment. When it comes to business-to-business, or B2B, payments, that excuse 34 Q ICBA Independent Banker Q February 2020 M hardly holds water. Yet a 2019 survey by the Association for Financial Professionals found that checks are still used in 42% of all B2B payments. That's a record low-but they're still slowing things down. " [As small businesses] are the primary client base of community banks, there is still significant check volumes that are weighing down the payments cycle, " says Erika Baumann, a senior research analyst for Aite Group's Wholesale Banking & Payments practice, based in Boston. " As technology is becoming more accessible, there are tools moving downstream that Quick stat 69% of companies expect their banks to deliver B2B payment solutions Source: PYMNTS..com