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Traditional FIs Drive Modernization Through FinTech Pairings

PYMNTS

Traditional financial institutions (FIs) continue to anticipate future demands and make progress in their modernization efforts, but they're not doing it alone. Plus, one FinTech offers a new spin on the open banking model to drive financial inclusion. WEX Talks Bank Partnerships To Advance B2B Payments.

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B2B APIs Bring Access And Speed To Finance

PYMNTS

Open banking and its promise of more elasticity in finance is enabled by application program interfaces (APIs) — lines of code that execute everything from simple peer-to-peer (P2P) transfers to industrial-sized B2B real-time payments.

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In Payments Automation, Don’t Forget Accounts Receivable

PYMNTS

In B2B payments, accounts payable automation is a hot topic, as are the challenges AP professionals face when it comes to paying suppliers and managing the data from those transactions. But as Corcentric and IOFM revealed, the accounts receivable department may not have total control over its ability to get automated.

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Banks Embrace Direct Data Integrations For SMB Services

PYMNTS

Together, the companies are helping banks across the region access small business data and facilitate data integrations with FinTechs, with a focus on enhanced small business loan underwriting. CoCoNet To Power B2B Payments Offering For Raiffeisen.

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The Financial Data Goldmine Of Order-To-Cash

PYMNTS

But ongoing reliance on paper invoices, continuing acceptance of paper checks and evolving business models are preventing companies – especially large multinationals – from grasping the power of data analytics to strategically take control of order-to-cash. “Is there a product line that customers are not liking, or disputing?

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ERP Data On The Front Lines Of Blockchain Adoption

PYMNTS

Cross-border payments, trade finance, smart contracts — blockchain has the potential to disrupt B2B processes, but FinTech players are only beginning to take these concepts onto a real-world stage. For one firm, Finlync , the key to unlocking the potential of blockchain in B2B processes is unlocking the underlying data of that activity.

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How APIs Are Helping FIs Meet SMBs’ Payment Needs

PYMNTS

This complicated process can involve everything from accounting and invoicing software to bank accounts. Today’s financial institutions (FIs) no longer need to worry about solely addressing all their clients’ financial-related needs, however. Managing these steps in separate systems can be friction-filled, Haider said.