PYMNTS

NOVEMBER 13, 2018

An application program interface (API) ecosystem is growing to transform the financial services (FinServ) sector, and small business (SMB) banking won’t be left out of the shift. APIs offer third-party FinTech firms new opportunities to make use of valuable data stored within traditional bank accounts.

Cash Flow Forecasting 73

Cash Flow Forecasting Accounting Banking Forecasting 73

PYMNTS

NOVEMBER 13, 2019

Google is planning to launch consumer checking accounts next year in partnership with Citigroup and Stanford University, The Wall Street Journal (WSJ) reported on Wednesday (Nov. Code-named Cache, the accounts will be handled by Citigroup and a credit union at Stanford University. A recent McKinsey & Co.

Accounting 64

Accounting Banking Financial Systems Startups 64

PYMNTS

DECEMBER 16, 2020

Ternio , a global FinTech platform, has integrated with Plaid , a financial data company, to help Ternio BlockCard bank accounts access faster and more secure connections to financial accounts, according to a press release. dollars between all of their accounts.”.

Accounting 106

Accounting Financial Data Securities Banking 106

PYMNTS

OCTOBER 28, 2019

Smart accounting app Coconut aims to automate bookkeeping for self-employed and small businesses (SMBs) around the U.K. The platform is already being used by 15,000 people and 500 accountants, enabling sole traders and limited SMBs to manage their business finances. Launched in 2016, Open Banking required the nine largest U.K.

Accounting 40

Accounting Banking Finance Financial Data 40

PYMNTS

NOVEMBER 24, 2020

The pandemic is reshaping banking. The conversation came against a backdrop where, as noted in a recent PYMNTS Tracker , a majority of Americans did their banking online last year. As more banking has shifted online, an increasing amount of that online activity is occurring across mobile conduits. Convenience matters, too.

Banking 107

Banking Education Accounting Communication 107

PYMNTS

NOVEMBER 17, 2020

Earlier this year, the European digital bank had taken on Ireland, France and Italy. In a press release, Revolut said the latest expansion would bring open banking to its users in Germany. Revolut said its new open banking offer was developed with TrueLayer , a London-based financial technology (FinTech) company.

Banking 105

Banking Financial Data Accounting Finance 105

CFO Leadership

OCTOBER 18, 2023

AI in the “Real World” While these powerful tools seem to have a near mastery of natural language communication, they are not necessarily designed to possess many of the skills required by finance and accounting professionals. However, they still have a place in corporate finance and accounting.

Finance 52

Finance Accounting Auditing IFRS 52

PYMNTS

APRIL 7, 2017

The approach to financial services for consumers and businesses is quite vast, but across the spectrum, access to and management of financial data is a critical component. Finicity , a company built for financial data aggregation, is jumping into the conversation.

Financial Data 76

Financial Data Technology Securities Banking 76

PYMNTS

NOVEMBER 27, 2019

Small businesses are a growing target for bank-FinTech collaborations and data integration initiatives as financial service providers explore new use cases for open banking. Based in Silicon Valley, Plaid said it has so far enabled integrations with 15,000 banks across the U.S. and Canada.

Banking 90

Banking Accounting B2B Finance 90

PYMNTS

DECEMBER 9, 2020

We’re being a bit tongue in cheek, but the fact remains that digital-only banking is getting a wider embrace – especially in Europe, as the pandemic surges yet again. Open banking, of course, allows financial data to be shared and synthesized across everyday financial life, making banking by app far less of a novelty than it once was.

Banking 82

Banking Profit and Loss B2B Accounting 82

PYMNTS

SEPTEMBER 11, 2019

In France, Treezor , a banking as a service platform, said this week that has deployed the Thales SafeNet Data Protection On Demand solution for what is being billed as “safety across the entire payment chain, from tier one banks and neo banks to crowdfunding organizations,” as noted in a release. In the United Kingdom.

Banking 71

Banking B2B Accounting Finance 71

PYMNTS

JUNE 26, 2020

This challenge exists for professionals across the back office, but in business accounting, the lack of data integration and accuracy mean finance experts are spending valuable time correcting information and moving numbers from one platform to another. All of these things require reliable data in real time.”

Accounting 52

Accounting Cash Flow Forecasting Invoicing Prioritization 52

PYMNTS

JANUARY 20, 2021

Xero , a global small business cloud accounting platform, is working with South Africa’s Nedbank to give small- to medium-size business (SMB) clients a digital, application programming interface (API)-enabled bank feed to access financial data, according to an ITWeb report.

Banking 67

Banking B2B Invoicing Accounting 67

PYMNTS

DECEMBER 19, 2019

FinTech and automation technology have cast a shadow of anxiety on the accounting industry in recent years, as certified public accountants (CPAs) began to wonder whether their jobs would be replaced entirely by robots. Because there is a big disconnect between the accounting industry and the small business owner.”

Accounting 53

Accounting Finance Accounting Firms Benchmarking 53

PYMNTS

MAY 3, 2020

Ben Errez, executive vice president and chairman for GreenBox, said approved GreenBox clients will now be able to “request funds from their account in the morning and see it land in their bank account that same day, hours later.”. And although the service isn’t universal for the U.S. million payments.

Accounting 69

Accounting Financial Data Finance Sales 69

PYMNTS

MARCH 20, 2020

Open banking’s impact on small- to medium-sized businesses (SMBs) continues to proliferate as traditional financial institutions (FIs) embrace the opportunity to unlock data for third-party platforms. ’s experience is quickly influencing the way SMB lenders approach open banking in other markets like the U.S. .’s

Banking 93

Banking Finance Risk Management Invoicing 93

PYMNTS

JANUARY 21, 2021

Today in B2B payments, European banks grow wary of small business loans, and Xero collaborates on API bank connectivity. SMB Loans Pose Potential Big Risk for European Banks. Euro area banks have cut back on lending, as the pandemic continues to threaten the economy. Xero, Nedbank Team on API-Enabled Bank Feed for SMBs.

B2B 85

B2B Banking Reconciliations Currencies 85

PYMNTS

AUGUST 24, 2020

Businesses and consumers alike are increasingly tapping new digital offerings for their financial needs as the ongoing COVID-19 pandemic shifts banking practices. Moving to cloud-supported infrastructure is one way these banks could shore up their products and keep customer interactions seamless. Around The Cloud Banking World.

Banking 90

Banking Technology Financial Data Accounting 90

PYMNTS

NOVEMBER 24, 2020

Bank is shifting away from screen scraping in favor of direct data connectivity, but it's not the only financial institution (FI) embracing the data strategy. Bank Nixes Screen Scraping With Akoya. Visa Links With Codat For SMB Bank Data Sharing. Atom Bank Links With Codat, Too.

Banking 60

Banking B2B Financial Data Cash Management 60

PYMNTS

APRIL 8, 2020

financial institutions as they scrambled to apply for Paycheck Protection Program (PPP) loans under the Coronavirus Aid, Relief, and Economic Security (CARES) Act. Bank of America received criticism for initially only allowing existing small and medium-sized businesses (SMBs) to apply. Small businesses overwhelmed U.S. Funding Circle.

Banking 98

Banking Accounts Payable Compliance Technology 98

PYMNTS

JANUARY 2, 2020

The former head of technology at Barclays, Mark Hipperson, is launching a digital bank called Ziglu that will serve both crypto and fiat accounts, according to a report by Cointelegraph. challenger bank. The accounts at Ziglu will be free and able to have multiple currencies, and people will be able to easily exchange them.

Banking 55

Banking Currencies Financial Data Finance 55

PYMNTS

NOVEMBER 2, 2018

Whether driven by regulation or market competition, the financial services sector in several jurisdictions is progressing toward open banking, interconnectivity and a freer flow of data between customer accounts and third parties. and multinational banks.

Securities 77

Securities Banking Accounting Finance 77

PYMNTS

DECEMBER 17, 2018

Use of alternative finance (AltFin) sources among small business (SMB) owners is on the rise, but still has a long way to go before it poses a legitimate threat to traditional banks’ market dominance. Mercator Advisory Group data released earlier this year found that 27 percent of small businesses in the U.S.

Banking 78

Banking Finance Accounting Financial Data 78

PYMNTS

DECEMBER 29, 2020

In this week's roundup of bank-FinTech collaboration and open banking initiatives, Citi embraces the unlocking of account data to third-party FinTechs, while WEX weighs in on opportunity for banks to take advantage of partnerships. Citi Builds Open Banking Marketplace. In a statement, Citi U.S.

Cash Flow Forecasting 123

Cash Flow Forecasting B2B Startups Financial Data 123

PYMNTS

NOVEMBER 13, 2019

There may not be an Open Banking mandate in the U.S., but that doesn’t mean the payments and financial services market isn’t embracing data sharing and integration. PYMNTS looks at some new collaborations between banks and FinTech firms below. Yet, outside the U.S., Tide Integrates With QuickBooks.

Banking 41

Banking Financial Data B2B Accounting 41

PYMNTS

JUNE 3, 2020

Daniel Kjellén, co-founder and CEO of Tink, said in the announcement , “As Europe’s leading open banking platform, we are looking forward to continuing to support PayPal as they extend and enhance their services across the whole of Europe.”. It has already acquired Eurobits , which specializes in account aggregation technology.

Investments 53

Investments Banking Financial Data Accounting 53

PYMNTS

JANUARY 9, 2019

One way this shift has materialized is in how small businesses seek and hire financial professionals to join their companies. In a 2017 report from job hunting site Indeed , researchers found that “small business accountant” was nowhere to be found in the top-10 job positions sought after by most small business employers.

Accounting 71

Accounting Corporate Finance Accounting Firms Auditing 71

PYMNTS

NOVEMBER 3, 2020

Late last week, the Consumer Financial Protection Bureau (CFPB) said it will look to issue advance notice of proposed rulemaking on “open banking” by the end of this year. The path ahead for open banking, at least here in the U.S., In other words, there may be a range of potential new rules coming into play in the U.S.

Banking 79

Banking Financial Data Accounting Securities 79

PYMNTS

JANUARY 5, 2020

Digital bookkeeping platform Receipt Bank notched approximately $73 million in equity and debt in a Series C funding round, according to an announcement by global investment bank Harris Williams. small business lender and commercial card company Capital on Tap was working with Receipt Bank to roll out the Receipt Bank Card.

Banking 52

Banking Invoicing Investments Financial Data 52

PYMNTS

DECEMBER 13, 2018

The problem can be traced back to data: as organizations scale, either through organic growth or M&A, they’re taking on more financial management platforms and opening more bank accounts, leading to fragmented storage of financial data. Open banking is not a regulatory requirement in the U.S.,

Treasury 62

Treasury Banking Cash Management Accounts Payable 62

PYMNTS

MAY 1, 2019

digital ID system is now available at five Canadian banks in a mobile app, according to a report by Bloomberg. The move will help the banks take a big step forward in identity verification, using blockchain technology to give customers the ability to prove their identity digitally so they can confidently access their accounts.

Banking 69

Banking Securities Financial Data Accounting 69

PYMNTS

JANUARY 30, 2020

Banks and FinTechs continue to discover new opportunities in unlocking corporate clients’ financial data, with banks embracing data integration for their own product development initiatives, and FinTechs finding new ways to collaborate with each other. AccountantsWorld Unlocks Payroll Data for FinTechs.

Banking 64

Banking Accounts Payable B2B Compliance 64

The Charity CFO

FEBRUARY 4, 2022

Do a Google search on nonprofit bookkeeping, and you’ll find page after page of articles on nonprofit accounting. Because while nonprofit bookkeeping and accounting are related, they’re not the same thing. A bookkeeper records and organizes financial data; an accountant interprets and presents that data. .

Nonprofit 98

Nonprofit Invoicing General Ledger GAAP 98

PYMNTS

JUNE 8, 2020

Open banking may soon become table stakes for financial institutions (FIs) — they need to act now and be able to offer it securely or risk getting left behind. Open banking connections enable third-party apps to provide more convenient, insightful and tailored services thanks to banking customer data.

Banking 60

Banking Accounts Payable Securities Accounting 60

PYMNTS

MARCH 12, 2019

For proponents of open banking , the regulatory initiative seen in the U.K. While policymakers target protection and customer ownership of data, one of the most prominent selling points for open banking is the ability for data to move seamlessly between once-siloed platforms. But in jurisdictions like the U.S.

Mergers and Acquisitions (M&A) 73

Mergers and Acquisitions (M&A) Banking Invoicing Financial Data 73

PYMNTS

APRIL 16, 2019

The API seems to be on everybody’s lips, a catchphrase or buzzword for a sea change in banking that has the potential to upend the way we do business across any type of interaction. APIs are most readily recognizable as having been codified in the Open Banking concept that debuted in the U.K. About Time For Real Time?

B2B 71

B2B Banking B2C Securities 71

PYMNTS

JANUARY 13, 2020

Federation of Small Businesses (FSB) has released the results of a survey of small to medium-sized businesses’ (SMBs) embrace of open banking two years since the framework took hold and discovered that SMBs continue to distrust lenders. The FSB surveyed 1,000 SMB owners about their data sharing habits. According to reports Monday (Jan.

Banking 52

Banking Invoicing Financial Data Accounting 52