PYMNTS

JANUARY 30, 2019

Forex companies, in particular, move money as they change it from different currency types. 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.

Foreign Exchange 74

Foreign Exchange Compliance Startups Currencies 74

PYMNTS

MAY 12, 2017

And, to top that off, dealing with foreign exchange can add further complexity to a business’s workflow, Laven explained. When it comes to making cross-border B2B payments, dealing with foreign exchange rates is an issue that businesses around the world continue to struggle with on several fronts.

B2B 43

B2B Foreign Exchange Compliance Currencies 43

PYMNTS

MARCH 2, 2016

Last week, Ripple published a report outlining some of its boldest claims about the potential of distributed ledger technology, including that it could save banks money. We break down the company’s argument as presented in “ The Cost-Cutting Case for Banks: The ROI of Using Ripple and XRP for Global Interbank Settlements.”

Currencies 46

Currencies Treasury Foreign Exchange Compliance 46

PYMNTS

SEPTEMBER 13, 2018

As FinTechs step into the cross-border payments and foreign exchange (FX) management space, there are more solutions available than ever before for corporates seeking to gain speed and security in payments – and manage risk along the way. Adopting real-time business processes has led them to embrace real-time FX management.

Foreign Exchange 40

Foreign Exchange Risk Management Currencies B2B 40

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

OCTOBER 22, 2019

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. Transfers are passed between FIs until they reach intended recipients, and each bank adds extra steps and fees along the way.

B2B 41

B2B Foreign Exchange Accounts Payable Banking 41

PYMNTS

APRIL 22, 2016

But technology is changing the foreign exchange trading game, and market volatility may be the only sure thing in this space. People have to move currency, have to change currency, so forex transacting is changing very quickly because of globalization.”. That’s according to Beeks Financial Cloud CEO Gordon McArthur.

Marketing 40

Marketing Foreign Exchange Treasury Currencies 40

PYMNTS

DECEMBER 11, 2017

But the promise of product choice for Amazon is only possible if the suppliers interested in selling their products to those Australian consumers have an easy way to get paid by Amazon – in the currency of their choosing and in a transparent and efficient way. Be the regulatory and compliance safety net.

Foreign Exchange 42

Foreign Exchange Currencies Problem Solving eCommerce 42

PYMNTS

SEPTEMBER 13, 2017

The company has also established the first secure and trusted compliance, vetting, KYC (Know Your Customer) and regulatory approval process for 75,000 China-based sellers (and growing) so that global marketplaces can have access to this massive eCommerce engine without operational, logistical, technological, payment or ERP fears.

Foreign Exchange 40

Foreign Exchange Compliance eCommerce Manufacturing 40

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 Technology 54

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. Kicking Free Of Correspondent Banking.

Foreign Exchange 85

Foreign Exchange Compliance Currencies Banking 85

PYMNTS

NOVEMBER 21, 2016

Payment regulations, prepaid card regulations, controlled currencies,” Monty began. Against this backdrop, banks must contend with payment outflows, inflows and regulations. Additional steps include KYC compliance, as well as anti-money laundering processes, he added.

Foreign Exchange 74

Foreign Exchange Currencies Compliance Banking 74

PYMNTS

MAY 31, 2016

Foreign exchange rates. Earlier this month, GoldMoney , a FinTech that operates a financial services and payments platform that uses gold to settle transactions globally in any currency, launched its Gold Payroll and Gold Payout applications. As a global currency in and of itself, gold has universal acceptance.

B2B 47

B2B Foreign Exchange Currencies Compliance 47

PYMNTS

SEPTEMBER 18, 2018

The tool will integrate Thomson Reuters’ World-Check and FXall solutions to provide Know Your Customer compliance and foreign exchange management features. In their announcement, the firms pointed to Asian Development Bank findings that today’s trade finance gap now stands at an estimated $1.6

Finance 48

Finance SAP Foreign Exchange Compliance 48

PYMNTS

FEBRUARY 26, 2016

The India-based online bank and technology platform aims to provide resources to SMEs that are looking for investors and acquirers. With SMEs unable to afford investment banks’ services, the self-teaching method may not always prove successful. But there’s more than foreign exchange to a cross-border investment deal.

Foreign Exchange 52

Foreign Exchange Valuation Currencies Investments 52

PYMNTS

JUNE 15, 2017

Doing so, he added, will not only help the company but other FinTechs — and conventional banks — with their own modernization efforts. “I The Western Union API sits on top of a global network of bank accounts, which are monitored by a compliance engine. Keeping merchants, customers happy. An API FinTech revolution?

B2B 70

B2B Foreign Exchange Compliance Leverage 70

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. As Frere pointed out, in many cases, the sender of funds doesn’t know how much it will cost them to convert their renminbi to dollars once they leave the bank.

Foreign Exchange 43

Foreign Exchange Currencies Valuation Accounting 43

PYMNTS

AUGUST 22, 2016

Typically, Lobo explained to PYMNTS, companies are asked to open local bank accounts in the markets in which their employees work. “They have to initiate a wire or money transfer from a bank account to each local account, and that’s a lot of manual transacting going on,” he said. Take wire transfers, for example.

Foreign Exchange 41

Foreign Exchange Currencies Accounting Planning 41

PYMNTS

MARCH 11, 2016

When hosts welcome international travelers to Brazil for the Olympics and book on Airbnb or HomeAway, Rao explained, they will be charged foreign exchange rates, transaction costs (along with international fees), and additional deductions such as in-country costs – “which is typically a part of the transaction, which nobody sees,” he said.

Foreign Exchange 40

Foreign Exchange Compliance Currencies Banking 40

PYMNTS

NOVEMBER 19, 2018

Despite the efforts of regulators, correspondent banking relationships continue to decline, according to the G20’s Financial Stability Board in a Reuters report late last week. percent drop in correspondent banking last year. percent drop in correspondent banking last year.

Foreign Exchange 74

Foreign Exchange Currencies Banking Invoicing 74