PYMNTS

JANUARY 30, 2019

Then the first money laundering directives came out, which started to mandate more and more in the realm of customer due diligence, so the company added a compliance check. More detailed eCDD — especially for business accounts, trusts and high-net-worth (HNW) accounts — has become a focus for regulators, governments and agencies.

Foreign Exchange 74

Foreign Exchange Compliance Startups Currencies 74

Future CFO

DECEMBER 3, 2020

Remittance payments from anywhere in the world destined for the UK routed through Lloyds can arrive in seconds with fee and foreign exchange transparency, security and full regulatory compliance, SWIFT said.

Foreign Exchange 40

Foreign Exchange Compliance Securities Banking 40

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

DECEMBER 11, 2019

Recent reports in Accountancy Age said SMBs are largely unaware of open banking, with Intuit Quickbooks finding in a survey of U.K. SMB lender Just Cashflow announced a partnership with Ebury to integrate foreign exchange services as Just Cashflow augments its offering beyond SMB loans. SMB Accounting App Coconut Opens to Banks.

Banking 52

Banking Foreign Exchange Reconciliations B2B 52

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

MAY 12, 2017

The cross-border B2B payments market, on the other hand, is fraught with friction, despite being much larger in size — accounting for nearly 80 percent of global cross-border payment revenue, according to a 2016 report by McKinsey & Company. To keep up, businesses need to focus on three pillars of compliance, Laven said.

B2B 43

B2B Foreign Exchange Compliance Currencies 43

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

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

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

FEBRUARY 5, 2020

For the companies that pay these workers, sometimes globally and across currencies, managing accounts payable (AP) processes is quickly becoming a complex endeavor. When every invoice is fully accounted for within a firm, he explained, financial professionals gain insight into the real sources of revenue — as measured against costs.

Invoicing 61

Invoicing Accounts Payable Foreign Exchange Currencies 61

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

MAY 13, 2020

By wielding Citi’s infrastructure to complete the transaction for The Boston Foundation and Bai, Flywire was able to ensure full compliance and quick transmission of SWIFT transaction data to the beneficiary bank in China. Since beginning the initiative, Citi and Flywire have facilitated about $2 million worth of transactions from the U.S.

Healthcare 81

Healthcare B2B Foreign Exchange Nonprofit 81

PYMNTS

JANUARY 14, 2019

There’s also a technology boom, which comes as the continent, in Nazir’s words, “leapfrogged over the landline and over the computer, and straight to the smartphone and, now, into mobile money over bank accounts. Those members of the formal economy, said Nazir, “are not comfortable going into a branch, and they do not have bank accounts.

eCommerce 85

eCommerce Foreign Exchange Accounting Banking 85

PYMNTS

APRIL 3, 2019

Senders have 12 hours to settle their accounts at a Dollar General store, he said, adding that 99 percent of consumers do so within that time limit, which is governed by compliance issues. They can also receive money transfers in Dollar General stores. Digital Expansion.

Foreign Exchange 61

Foreign Exchange Compliance Retail Currencies 61

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. strongly preferred digital channels for payment approvals, account information and foreign exchange transactions. and China has ballooned to over half a trillion dollars.

Foreign Exchange 42

Foreign Exchange B2B Compliance Accounting 42

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. The next-highest category, consumer-to-business (C2B) cross-border payments, paled in comparison at just $54 billion.

Foreign Exchange 49

Foreign Exchange B2B Banking Compliance 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

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. JPMorgan: Real-Time Treasury A Key Driver Of Corporate’s Loyalty. According to J.P.

Healthcare 115

Healthcare B2B Foreign Exchange Treasury 115

PYMNTS

OCTOBER 22, 2019

The cross-border business payments market is significant, as Medici research finds that international accounts payable (AP) by small- and medium-sized businesses (SMBs) currently hold approximately $7 trillion, and marketplace payouts amount to about $8 trillion. International B2B Payments Pains. Mexico transactions in 2018.

B2B 41

B2B Foreign Exchange Accounts Payable Banking 41

PYMNTS

JULY 13, 2018

“However, we have to do manage our other risks, such as compliance and operational risk.” Sloan also said that foreign exchange and trust businesses remain concerns for the bank. . million fake accounts, initiated by employees trying to meet internal sales targets. . After the investigations began another 1.4

Foreign Exchange 40

Foreign Exchange Banking Risk Management Accounting 40

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

DECEMBER 11, 2017

Via a link in their Sellers Central accounts, users can access sellers.hyperwallet.com , where they can click the “Login With Amazon” button to create a virtual Hyperwallet account. Be the regulatory and compliance safety net. Manage the marketplace’s equivalent of interchange – foreign exchange.

Foreign Exchange 42

Foreign Exchange Currencies Problem Solving eCommerce 42

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.

B2B 58

B2B Foreign Exchange Compliance Banking 58

PYMNTS

OCTOBER 4, 2019

Funds and accounts advised by T. With $100 million in new funding, Rapyd plans to expand its API platform used by business clients to empower its own capabilities, including online checkout, funds collection, funds disbursement, compliance, foreign exchange management, card issuing and more.

B2B 51

B2B eCommerce Startups Foreign Exchange 51

PYMNTS

FEBRUARY 8, 2018

Digital wallet providers, which must quickly move money between wallets and bank accounts, also present a major potential use case. Facilitating cross-border payments means resolving questions of regulatory compliance and foreign exchange, Brieske said. There are still knots to untangle, of course.

Foreign Exchange 43

Foreign Exchange Banking Invoicing Compliance 43

PYMNTS

AUGUST 10, 2017

Karen Webster: Let’s get acquainted with UAE Exchange and some of the great work you’re doing in the global remittance, foreign exchange and payments space. The business has evolved into a device agnostic, any-to-any platform offering transfers in cash, real-time bank account credits, and eWallet transactions.

Risk Management 54

Risk Management Foreign Exchange Investments Compliance 54

Future CFO

SEPTEMBER 14, 2020

“However, in the current environment, the traditional way of disseminating financial information and explanation of variance analysis is no longer fully reliable and accurate — and fails to account for the unique risks caused by the global pandemic,” said Wendy Wang , group chief financial officer and chief operating officer at Tricor Group.

Financial Planning and Analysis (FP&A) 52

Financial Planning and Analysis (FP&A) Forecasting Planning Foreign Exchange 52

PYMNTS

JUNE 14, 2018

We’ve been assuring a compliance and regulatory framework in all these markets to be sure we have that bank relationship,” Massaro noted of Flywire’s many partnerships with huge global — and top local — banks worldwide. If anything, he noted, it’s spent much of its year-long coming-out party further cementing those relationships.

Education 43

Education Foreign Exchange Healthcare Banking 43

PYMNTS

OCTOBER 16, 2020

Consumers send funds by tapping or swiping payment cards, clicking a few buttons on banking websites or payment apps, or keying details into online checkout pages, which payees receive via bank accounts or digital wallets. Tapping advanced technologies can help financial service providers manage compliance effectively, Lembo said.

Foreign Exchange 85

Foreign Exchange Compliance Currencies Banking 85

PYMNTS

JULY 24, 2020

Founded in 2015, Revolut began by offering prepaid debit cards that allowed users to avoid foreign exchange fees while traveling abroad. Revolut is an app-based consumer bank account that allows customers to send and receive money and use built-in budgeting tools. It boasts more than 12 million customers.

Startups 102

Startups Foreign Exchange Valuation Invoicing 102

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

SEPTEMBER 14, 2016

“We are big believers that everything should, as much as possible, remain local within countries to take a lot of the foreign exchange burden off of people,” he explained. Regardless of a platform’s vertical, business model or type, Warrington said having a global workforce is no easy feat.

Foreign Exchange 69

Foreign Exchange Education Compliance Startups 69

PYMNTS

MAY 31, 2016

Foreign exchange rates. The Gold Payout application exists as a free enterprise software offering that can be used across BitGold accounts. We monitor every transaction from end to end,” he said, with KYC and AML compliance in place. Paper checks. Settlement times. Transactions can be instantly reversed if need be.

B2B 47

B2B Foreign Exchange Currencies Compliance 47

Future CFO

JANUARY 12, 2021

Working capital and cash flow optimisation With uncertain times ahead, CFOs today must monitor the impact of price volatility, foreign exchange fluctuations, and interest rate changes, and be able to rapidly revise financial asset positions and protect against increased credit risks.

Foreign Exchange 40

Foreign Exchange CFO Compliance Reconciliations 40

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

JUNE 23, 2016

On average, approximately 20 percent of a FinTech’s operational costs are dedicated to the governance and compliance area. The automation of compliance tasks that RegTech solutions offer can not only be applied to new problems encountered by companies, but they can also be effective at solving existing problems in a much more efficient way.

Foreign Exchange 50

Foreign Exchange Leverage Compliance Securities 50

PYMNTS

SEPTEMBER 8, 2016

Times thousands of payments a day that find their way into the institution’s bank account. Off to the bank they go, and $60,000 is sent to the MIT account specified. Only $56,734 gets deposited into MIT’s account, with a truncated name that is unintelligible to the MIT accounting department.

Foreign Exchange 43

Foreign Exchange Currencies Valuation Accounting 43