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In addition to steering their organizations through the murky and rocky waters of an economic downturn, treasury departments are securing a place at the decision-makers' table to offer higher-level guidance. Some may say, 'data is the next oil,' but it can't be if the company doesn't have the platform to optimize its use.".
Some of the biggest industry trends, including faster payments, open banking and bank-FinTech collaboration, have found their ways into the Canadian market, the B2B payments space is not immune to disruption from these shifts. Faster Payments. Open Banking.
Today in B2B payments, corporate acquirers get creative with technology in a pandemic world, while BBVA upgrades its expense management offering. Plus, Sleek raises $4 million, JAGGAER upgrades its treasury management tool and AWS teams with Orange Business Services to accelerate corporates' digital cloud migrations. 23) announcement.
Reval offers treasury management solutions that have now become the target of an acquisition. “The acquisition of Reval substantially increases our footprint in treasury cloud services and enriches our product portfolio with leading functionality in risk and hedge accounting,” said ION CEO and Founder Andrea Pignataro.
As noted in this space , the entity fashioned by the merger would take its place as the fifth largest retail bank in the country, and with a presence that spans 24 states, and with a combined asset base of about $560 billion. And, generally speaking, the strategy that exists in M&A boils down to a binary choice: build vs. buy.
As Andreas Lutz, CEO of Fides Treasury Services explained to PYMNTS in a recent interview, the challenges associated with managing multiple bank accounts — and opportunities lost when it is done manually — are vast. Some treasury analysts still spend fully half their time working with massive spreadsheets,” he said.
Finastra , the FinTech conglomerate formed last year via the merger of Misys and D+H, is expanding through yet another M&A deal. The firm said the takeover will enable it to provide more robust FX trading services to its FI clients and their treasury departments.
However, the number of banks has steadily declined over the years, partly driven by merger and acquisition (M&A) activity — with much of that consolidation occurring in the community bank market. Community banks are pushing for a stronger role with their small business (SMB) customers. A Consolidating Industry.
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