PYMNTS

OCTOBER 23, 2018

Bank of America Merrill Lynch (BofA Merrill) is introducing a new solution for other financial institutions (FIs) in the interbank payment system to automate foreign exchange (FX) conversion. In a press release issued Monday (Oct.

Foreign Exchange 76

Foreign Exchange Banking Currencies Compliance 76

PYMNTS

DECEMBER 10, 2020

The financial institution or corporate client gets transparency into fees and foreign exchange rates as well as visibility of payment settlement. The tool is aimed at improving speed, security, transparency and compliance. . 10) press release. Customers can make payments via Bank of America’s SWIFT gpi solution.

Foreign Exchange 104

Foreign Exchange Banking Treasury Compliance 104

PYMNTS

FEBRUARY 25, 2020

Others, meanwhile, have turned their attention to the accounts receivable end of a B2B transaction. Standardizing these integrations means boosted visibility, the company said, while reducing costs, improving compliance and addressing the growing threat of fraud. Kyriba Streamlines Connectivity. Rapyd Wields The Visa Network.

Foreign Exchange 56

Foreign Exchange B2B Compliance Accounting 56

PYMNTS

MAY 13, 2020

Preserving trade flows of particular importance in the healthcare sector today, with cross-border B2B payments essential to this effort. Paving Way For Faster B2B Payments. In all cross-border B2B payment scenarios, transparency is also critical to promoting efficiency. to multiple vendors in China to facilitate PPE procurement.

Healthcare 81

Healthcare B2B Foreign Exchange Nonprofit 81

PYMNTS

DECEMBER 8, 2017

Artificial intelligence ensures regulatory compliance and fraud protection. With our API, businesses can now seamlessly send payments to over 220 countries for as little as $1 per transaction, with live foreign exchange rates, and delivering funds direct to bank accounts as opposed to a recipient’s eWallet.

Foreign Exchange 78

Foreign Exchange Treasury B2B Compliance 78

PYMNTS

MARCH 1, 2017

A big part of being successful in multicurrency payment processing is building a solid compliance regimen, which adds on another layer of complexity for a highly regulated banking industry with ever-changing regulations. Banks must be able to do this all in a way that is both efficient and maximizes revenue. New Challenges, Old Systems.

B2B 58

B2B Foreign Exchange Compliance Banking 58

PYMNTS

OCTOBER 1, 2019

.’s many so-called digital challenger banks, Revolut started its evolution as a pre-paid card attached to an app that gave users an easy mechanism for paying abroad without foreign exchange fees. The platform has since expanded its digital services to include crypto accounts, B2B accounts and stock trading.

Foreign Exchange 43

Foreign Exchange Valuation Compliance B2B 43

PYMNTS

DECEMBER 11, 2019

As the open banking business model permeates into the B2B financial services market, FinTechs and traditional financial institutions continue to find new use cases for API integrations and connectivity to elevate the business-user experience. SMB Accounting App Coconut Opens to Banks. SMB Accounting App Coconut Opens to Banks.

Banking 52

Banking Foreign Exchange Reconciliations B2B 52

PYMNTS

MARCH 17, 2020

Caldeira pointed to IndiaStack, a collective of APIs — spanning consumer consent and account interfaces — that lets governments, businesses and startups bring innovations to market. With open APIs you can pretty much build an entire ecosystem for payments providers,” he said.

Foreign Exchange 91

Foreign Exchange Compliance Securities Startups 91

PYMNTS

JANUARY 2, 2017

goods and services trade with China accounted for over $659 billion in value, according to the Office of the United States Trade Representative. and Mexico is really efficient, but B2B transfer between here and China is just very convoluted,” he said. Over the years, the size of import and export trade between the U.S.

Foreign Exchange 42

Foreign Exchange B2B Compliance Accounting 42

PYMNTS

DECEMBER 31, 2020

From the back-office bean counter to the overseer of cybersecurity and anti-money laundering (AML) compliance, the modern corporate treasury has undergone an extreme makeover in recent years that goes well beyond its historic roots in cash management. Visa Says Frictionless B2B Payments Are The Future; Rails Must Adapt To New Use Cases.

Healthcare 115

Healthcare B2B Foreign Exchange Treasury 115

PYMNTS

NOVEMBER 27, 2018

In a new report , “A vision for the future of cross-border payments,” SWIFT and McKinsey & Company found that B2B cross-border transactions accounted for $125 billion in revenues last year. However, B2B global payments revenue margins are the smallest of any category at just 0.1

Foreign Exchange 49

Foreign Exchange B2B Banking Compliance 49

PYMNTS

APRIL 3, 2019

Key to the digitization process is treasurers’ embrace of FinTech partners, analysts noted, as they pursue four key areas: automation, digitization of payments and accounts receivables, information and data integration, and data analytics. Greenwich Associates managing director and report co-author, in another statement.

Treasury 49

Treasury Banking Foreign Exchange Corporate Finance 49

PYMNTS

DECEMBER 4, 2017

Through their collaboration, RailsBank customers will also gain access to Airwallex’s cross-border payments and foreign exchange (FX) services. -based RailsBank, an open banking platform that facilitates connectivity into the U.K. and the EU’s SEPA zones.

Foreign Exchange 49

Foreign Exchange Startups Compliance Banking 49

PYMNTS

MARCH 2, 2016

The company also pointed to the recent rise of the nostro account, an account owned by a financial institution in another country with funds held in local currency, used to facilitate cross-border settlement. It’s an error-prone process, the report added, with banks still handling the cost of compliance, payment processing and FX.

Currencies 46

Currencies Treasury Foreign Exchange Compliance 46

PYMNTS

APRIL 29, 2016

The problem, he points out, may start with payment, but it soon extends into many critical risk and compliance activities, including KYC. One of the biggest gotchas, he says, is risk compliance and KYC, especially for those that try to build an in-house solution from the ground up. HAPPY PAYEE, HAPPY PROCESS.

Foreign Exchange 40

Foreign Exchange Compliance Leverage Economics 40

PYMNTS

MAY 31, 2016

Foreign exchange rates. The platform extends across parent company BitGold’s customer base, including consumers and enterprises, and runs the gamut of B2B payments across supply chain, services-oriented relationships and, importantly, across borders. Paper checks. Settlement times.

B2B 47

B2B Foreign Exchange Currencies Compliance 47

PYMNTS

JUNE 15, 2017

It also provides users with access to the company’s wide-reaching global payments network and access to global compliance programs to ensure overseas commerce transactions are in line with existing local legal requirements. The Western Union API sits on top of a global network of bank accounts, which are monitored by a compliance engine.

B2B 70

B2B Foreign Exchange Compliance Leverage 70

PYMNTS

SEPTEMBER 18, 2018

Together, they will launch a new marketplace app, dubbed the Receivables Board, to support primary and secondary trading of accounts receivable by institutional investors and corporate treasurers, enabling businesses to access trade finance. trillion.

Finance 48

Finance SAP Foreign Exchange Compliance 48

PYMNTS

MARCH 1, 2018

The B2B ground transportation segment also has to cater to the differing corporate cultures around the world. Mac acknowledged a “learning curve” when entering into such an ecosystem of differing rules, language barriers and foreign exchange demands — the latter of which can also significantly complicate the expense management process.

Transportation 40

Transportation Foreign Exchange Currencies Reconciliations 40

PYMNTS

AUGUST 22, 2016

Typically, Lobo explained to PYMNTS, companies are asked to open local bank accounts in the markets in which their employees work. “They have to initiate a wire or money transfer from a bank account to each local account, and that’s a lot of manual transacting going on,” he said. ” The U.S.

Foreign Exchange 41

Foreign Exchange Currencies Accounting Planning 41

PYMNTS

NOVEMBER 19, 2018

Even for companies in markets with robust correspondent banking operations, high and hidden bank fees , foreign exchange volatility, and a lack of speed and visibility into the status of a transaction have all opened up opportunities for FinTechs in the cross-border business payments market to address these points of friction.

Foreign Exchange 74

Foreign Exchange Currencies Banking Invoicing 74