Remove B2B Remove Compliance Remove Currencies Remove Foreign Exchange
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Banking-as-a-Service Tops This Week's B2B VC Roundup

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With nearly $90 million in new funding landing at B2B FinTechs this week, investors showed off a diverse range of focuses, from procure-to-pay to small business payments. Osome connects small and medium-sized businesses to a digital business assistant app to automate accounting, payroll and tax compliance workflows. and Hong Kong.

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Bank Of America Automates FX Conversion For Smaller FIs

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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. The solution is supported across 89 countries and can make conversion in 41 currencies, the bank noted.

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Can APIs Fast-Track B2B X-Border Payments?

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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. In comparison to P2P transfers, B2B payments logistically involve more heavy lifting, Laven said.

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How Multi-Entity SMBs Can Navigate A World Of Billing Complexity

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Gulati discussed what this trend means for the way that multi-entity SMBs manage a range of financial workflows across borders, and how technology can ease the biggest friction pain points like foreign exchange volatility and domestic compliance. Cross-Border Headaches. All of this is really manual," noted Gulati. "If

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Bank Of America Expands SWIFT gpi, Intros CashPro Cross-Border Payment Tracker

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Bank of America (BofA) is introducing a cross-border payment tracker and expanding SWIFT gpi to support more than 140 currencies, accessible through the integrated CashPro platform. The financial institution or corporate client gets transparency into fees and foreign exchange rates as well as visibility of payment settlement.

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The Financial Opportunity In Supply Chains’ Rising FX Risks

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Foreign exchange (FX) volatility can be detrimental to businesses with heavy reliance on cross-border operations. “During the past quarter, exchange rates across the world have been in a state of fluctuation, partly due to trade issues — not just Brexit, but also the U.S. Trade tensions between the U.S.

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Deep Dive: Emerging Response To B2B, P2P Cross-Border Payments Pain

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They frequently face delays and rack up fees as they pass through multiple FIs, and parties making these payments often wrestle with currency conversions and value fluctuations. International B2B Payments Pains. Limited connections between FIs can cause delays and higher costs as well. Mexico transactions in 2018.

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