All the digital innovation in the world doesn’t change the fact that trust, transparency and perceived risk ultimately form the backbone of B2B payments. Still, in a move that could recalibrate how banks assess risk, the Office of the Comptroller of the Currency (OCC) announced Thursday (March 20) that it will no longer examine financial institutions for reputation risk. The OCC, which regulates and supervises national banks and federal savings associations, is stripping references to “reputation risk” from its Comptroller’s Handbook and associated guidance materials. The decision, it says, is intended to clarify its regulatory focus on quantifiable risk categories. But in the high-stakes, interdependent world of B2B payments, reputation is far from irrelevant. In fact, given today’s uncertain operating environment, it’s arguably more critical than ever

As U.S. tariffs come into full force, global trade routes are being redrawn. So too are B2B procurement strategies. The reconfiguration of sourcing decisions is happening against a backdrop of ongoing economic uncertainty, fluctuating costs and geopolitical instability. Business identity verification and effective know your business (KYB) controls are emerging as key enablers of smooth digital B2B transactions. The need for verified, trusted business identities is pressing as businesses reassess their supply chains and procurement strategies and eye digital marketplaces and eProcurement platforms to mitigate risk and optimize supplier relationships