PYMNTS

MARCH 30, 2020

Bank regulators have rolled back the Jan. 1 accounting standard known as “current expected credit loss” (CECL) in an effort to bolster loans in the wake of the coronavirus, the Wall Street Journal reported on Friday (March 27). National bank regulators — The Federal Reserve, Federal Deposit Insurance Corp.

Accounting Standards 66

Accounting Standards Banking Credit Risk Compliance 66

PYMNTS

JUNE 17, 2020

In financial fraud, the breaches come when bank standards are lax. Australian bank Westpac Banking Corp. And that guiding principle is what leads fraudsters and bad actors to probe systemic vulnerabilities in banks’ compliance processes. may stand as Exhibit A here. There was no evidence of intentional wrongdoing.”.

Banking 75

Banking Compliance Risk Management Credit Risk 75

CFO News

JANUARY 3, 2023

Under the model, fintech companies will conduct all preliminary credit checks through a third-party application platform interface (API) and account aggregators. They will then upload the completed loan application onto this digital platform.

Credit Risk 52

Credit Risk Accounting Banking 52

PYMNTS

MAY 24, 2019

Baoshang Bank, based in Inner Mongolia, will be taken over by China’s banking and insurance regulator over critical credit risks, according to a report by Reuters. Takeovers of banks are rare in China, and this is the first one in almost 20 years. The bank’s non-performing loan ratio, as of December 2016, was 1.68

Banking 63

Banking Construction Credit Risk Finance 63

PYMNTS

DECEMBER 14, 2020

“[Circumstances] have underscored the singular importance of artificial intelligence (AI) in managing credit risk as well as supporting other bank operations. AI can make it easier for financial institutions (FIs) to predict how likely their customers are to make timely payments and improve overall risk assessment capabilities.

Credit Risk 87

Credit Risk Data Analysis Banking Forecasting 87

PYMNTS

DECEMBER 2, 2020

Meanwhile, Aareal Bank launches a new B2B payments platform, Cobase teams up for FX and eCapital acquires a commercial lender. Sage has unveiled a new partnership with Satago , a cash management and finance program for small firms and accounting professionals, according to an announcement. 1) announcement.

Cash Management 57

Cash Management B2B Foreign Exchange Banking 57

Nerd's Eye View

APRIL 3, 2024

As has been the case for the past several quarters, the prevailing characteristic of the economy is one of bifurcation, with interest rate-sensitive sectors remaining in a recession (as evidenced by the manufacturing sector's 16-month-long contraction), while the services sector (which accounts for nearly 80% of U.S. GDP) continues to expand.

Economics 77

Economics Marketing Valuation Profit and Loss 77

Future CFO

SEPTEMBER 20, 2023

The World Payments Report 2023 draws on insights from two primary sources – the Global Large Businesses Survey 2023 and the Global Banking and Payments Executive Surveys and Interviews 2023, according to the firm. Global non-cash transaction volumes will reach 1.3

Cash Management 52

Cash Management Treasury Credit Risk Compliance 52

PYMNTS

JUNE 25, 2020

As accounts payable (AP) and accounts receivable (AR) operations continue to converge for many organizations, buyers and suppliers are increasingly acknowledging the value of using each other’s technology platforms to promote stronger B2B relationships. Esker Adds Credit Tech To AR Platform.

Invoicing 112

Invoicing Accounts Payable B2B Currencies 112

PYMNTS

FEBRUARY 21, 2020

It also includes Payment Track’s fraud prevention capabilities, which enable users to immediately put their account on hold if they see anything suspicious. Together with features like smart business credit, account freeze and instant account approval, these upgrades make Cashplus an indispensable tool for small businesses.

Credit Risk 64

Credit Risk Startups Accounting Banking 64

PYMNTS

MARCH 27, 2020

Application fraud, which sees cybercriminals submitting financial product applications to banks with no intention of paying them back, is among the most popular techniques. They then take all the credit they possibly can after approval and convert it to cash by writing high-value checks or maxing out their credit cards.

Technology 83

Technology Leverage Credit Risk Banking 83

PYMNTS

SEPTEMBER 29, 2017

Banks are finding it more difficult than ever to ignore potential FinTech partnerships that could better serve their corporate customers. When it comes to corporate treasury, business clients demand robust solutions and services from their banks, and FinTech players are stepping in to help. Managing Risk.

Treasury 56

Treasury Banking Compliance Risk Management 56

PYMNTS

DECEMBER 22, 2020

This week's look at the convergence of accounts payable and accounts receivable finds tools like commercial cards, trade credit, artificial intelligence and robotics process automation easing friction on both ends of a B2B transactions. PYMNTS And CSI Eye AR-AP's Digital Shift. Robotics Process Automation Tackles AR-AP Friction.

Accounts Payable 79

Accounts Payable B2B Invoicing Accounting 79

PYMNTS

APRIL 24, 2020

How RBC Is Overhauling Digital Account Opening With AI (Digital Identity Tracker). Royal Bank of Canada ( RBC ) recently launched digital government identity verification features, letting customers verify their identities for account opening via its RBC mobile app. The Race To The Cloud: Will Digital Banks Win?

Credit Risk 56

Credit Risk Entertainment Banking Accounting 56

Future CFO

MARCH 20, 2023

DSO as an accounting metric measures the average number of days a businesses receives payment for goods and services purchased on credit, while DIO is a working capital management ratio that measures the average number of days a company holds inventory before it’s turned into sales. Just in time to just in case.

Credit Risk 52

Credit Risk Transportation Economics Invoicing 52

PYMNTS

NOVEMBER 16, 2018

Small business credit analysis company PayNet is linking up with a community bank to streamline SMB lending for the institution. PayNet President William Phelan said in a statement that the partnership will allow BNB Bank to boost borrower experiences. In another statement, BNB Bank EVP and Chief Lending Officer Kevin L.

Banking 53

Banking Analyzing Data Securities Accounting 53

PYMNTS

FEBRUARY 3, 2020

Of Goldman’s $7 billion in consumer loans and card balances in 2019, card lending accounted for “a significant portion.” Consumer loans are also processed through Goldman’s retail banking arm, Marcus. Loans were primarily issued to SMB merchants that sell on the site, and bank partnerships were leveraged in some foreign markets.

Credit Risk 52

Credit Risk Leverage Banking eCommerce 52

PYMNTS

JUNE 11, 2020

While optimizing back-office functions like accounts payable and accounts receivable can support enhanced cash-flow management, B2B partnership collaboration is also critical to supporting the financial health of an organization. With a focus on suppliers’ corporate customers, the tool also integrates a credit risk solution.

B2B 52

B2B Accounts Payable Cash Flow Forecasting Reconciliations 52

PYMNTS

OCTOBER 8, 2018

The International Chamber of Commerce ‘s (ICC’s) Banking Commission is collaborating with bank-owned database Global Credit Data (GCD) to broaden the scope of the ICC’s Trade Register, an announcement revealed Monday (Oct. trillion-worth of exposures.

Risk Analysis 59

Risk Analysis Credit Risk Finance Banking 59

PYMNTS

DECEMBER 15, 2020

Because consumer transactions continue to rely on cash, the accounts receivable (AR) and accounts payable (AP) processes within the supply chain can be fragmented. Looping In Trade Credit. The firm takes on the trade credit risk, using data generated as a result of LeafLink Financial sitting in the middle of B2B relationships.

B2B 111

B2B Accounts Payable Startups Invoicing 111

PYMNTS

APRIL 23, 2020

struggling because of the coronavirus pandemic, CRIF Realtime is rolling out a new array of products called COVID-19 Credit Passport, according to a press release. CRIF Realtime, which specializes in credit risk for businesses, said the new offering would use open banking technology and help businesses better see where they stand financially.

Credit Risk 56

Credit Risk Startups Banking Technology 56

PYMNTS

DECEMBER 13, 2016

The issues that have kept millennials out of the mortgage market tend to fall into three categories: lack of sufficient credit, lack of sufficient funds for a down payment or lack of a sufficiently long employment record to get lenders comfortable with them as a credit risk. Capturing That Millennial Customer.

Credit Risk 84

Credit Risk Banking Economics Marketing 84

Barry Ritholtz

MARCH 5, 2024

I graduated economics with, with a lot of coursework in accounting and finance. And so I remember back, back in 2005 when we first started, you know, we think about the banks. The banks would have an equity trading desk and they’d have a debt desk, right? Either you have the asset and the credit risk, I would imagine.

Mergers and Acquisitions (M&A) 57

Mergers and Acquisitions (M&A) Credit Risk Investments Banking 57

PYMNTS

OCTOBER 20, 2016

The credit management platform automates aspects of customer credit management, from credit approval, to online ordering, to invoicing and collections. “We We work with third-party banks to underwrite all orders placed on terms so sellers are paid out within 24 hours and take zero credit risk,” said Noble. “We

B2B 73

B2B Startups Credit Risk eCommerce 73

PWC UK

OCTOBER 26, 2021

Other EU institutions, such as the European Central Bank (ECB), have indicated they will feed their views into the ESMA report.   ESMA is expected to set out its findings in a report, expected in late 2021.

Credit Risk 52

Credit Risk Concentration Banking Marketing 52

PYMNTS

DECEMBER 28, 2020

Corporates want to delay payment as long as possible in order to better manage cash flow, while suppliers are pressed to accelerate accounts receivable to strengthen their own cash positions. One of the most prominent culprits behind that friction is the intrinsic conflict that buyers and suppliers face in their payment flows.

B2B 81

B2B Invoicing B2C Reconciliations 81

CFO Talks

DECEMBER 8, 2021

Inspired to follow in her father’s footsteps as a CA, Lindelani Gumbo has carved her own path as a regulatory accountant, a career built on a genuine passion for the financial sector and regulatory space. CFO Talks is a brand of the South African Institute of Business Accountants. That’s a lot of compliance to cover.

Auditing 72

Auditing Accounting Banking Risk Management 72

The Finance Weekly

NOVEMBER 20, 2023

A notable example is the Bank of America, which employs AI to maintain the integrity of transactions and combat fraud. By scrutinizing various data points such as payment history and IP addresses, the bank swiftly , identifies anomalies. This helps collection teams take proactive steps to collect payments before they become overdue.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Finance Cash Flow Forecasting Forecasting 52

Corporate Finance Lab

NOVEMBER 8, 2023

( In general, there are four main groups of creditors: banks, trade creditors, employees (e.g., Therefore, to finance growth, a firm will most likely go to banks and trade creditors.) Therefore, to finance growth, a firm will most likely go to banks and trade creditors.) unpaid wages), and the government (e.g.,

Finance 55

Finance Economics Restructuring Banking 55

Future CFO

DECEMBER 18, 2020

Central banks are also pushing their supervised entities to go digital and prepare for their requirements and rewards. In the Philippines, the race on who can implement the best digital strategies and increase the use of digital banking among its clients and customers are on. No one was talking or worrying about NPL and reserves.

Marketing 52

Marketing Profit and Loss Finance Credit Risk 52

PYMNTS

NOVEMBER 26, 2019

In fact, Srinivasan added, the parameters of risk itself are changing. He noted that, with real-time payments , credit risk is largely negated, as transactions require immediate posting of debits and confirmation of sufficient funds — and it can be immediately ascertained whether or not user accounts are in good standing.

Education 61

Education Construction Auditing Credit Risk 61

PYMNTS

JANUARY 6, 2021

With no credit scores, limited financial transaction histories, and a huge amount of people who don’t even have a bank account, lending money in Vietnam is no simple task. So we're not talking about even some primitive APIs, it's the stone age, manual data exchange.”. “It

Analyzing Data 129

Analyzing Data Financial Data Finance Banking 129

PYMNTS

JANUARY 23, 2020

“The changes will create a bigger gap between consumers deemed to be good and bad credit risks,” noted the Journal. The changes seem to herald more conservatism in credit scoring , and greater attention to risk tied to debt. Credit card debt stood at more than $1.3 financial crisis.

Credit Risk 52

Credit Risk Banking Securities Accounting 52

PYMNTS

MARCH 30, 2020

When fraudsters open fake accounts and successfully drain them, it’s pure loss. Instant money is becoming the new normal in banking and financial services, and the aforementioned COVID-19 pandemic has added disorder to what was already confusing a lot of people. Cybercrime Police Blotter.

Credit Risk 52

Credit Risk Securities Accounting Banking 52

PYMNTS

JULY 11, 2017

The International Chamber of Commerce Banking Commission recently released a report that found an imbalance between supply and demand of trade finance services. Indeed, banks must tread carefully in the world of trade finance, and with such little room for error and financial losses, risk management is critical.

Finance 43

Finance Invoicing Profit and Loss Credit Risk 43

PYMNTS

OCTOBER 12, 2018

The startup doesn’t need the money, really, flush with hundreds of millions of dollars of its own — and has tens of millions of people applying for its credit cards. Wall Street also is raising concerns over credit risk as the firm branches out into consumer-facing installment loans.

Advertising 42

Advertising Credit Risk Startups Budgeting 42

PYMNTS

JULY 18, 2017

Many of its customers have subprime credit, so making the right decision out of the gate is a critical part of protecting its revenue and reputation. “As As we work with business customers with non-prime credit, decisions around credit risk are key to the success of our business,” said Haijian Hu, head of Headway Capital.

Credit Risk 58

Credit Risk Education Banking Technology 58