PYMNTS

APRIL 1, 2019

Merchants, lenders and banks never see the person on the other side of the transaction, and proving that someone is, well, legitimate is becoming more difficult. The price tag is enormous, as estimated by SentiLink and some of its partners, reaching as much as $2 billion annually — and that’s just for banks. Flavors Of Fraud.

Construction 73

Construction Numbers Concentration Securities 73

PYMNTS

SEPTEMBER 16, 2016

Also, high capital costs of the latest mining facilities and systems are creating a barrier to entry for new miners. The concentration of bitcoin mining increases the likelihood miners will collude to attack the blockchain, and as profitability goes down, fewer miners will operate and existing incumbents will consolidate.

Currencies 77

Currencies Concentration Securities Banking 77

PYMNTS

APRIL 30, 2018

Digital banks. Most of that spend will be concentrated in the U.S., with supporting use cases mostly related to financial services and cross-border settlement, for a grand total of $242 million in 2018. Marketplace lending models were about using tech to lend money while sidestepping the regulatory burdens of being a bank.

Banking 73

Banking Investments Concentration Accounting 73

PYMNTS

JANUARY 15, 2020

Eisenbach, Anna Kovner and Michael Junho Lee, is “Cyber Risk and the US Financial System: A Pre-Mortem Analysis.”. The cyberattack in question could wreak havoc on financial firms. The authors seek to quantify how the attacks may be “amplified” through the financial system. counties, the authors added.

Banking 53

Banking Concentration Financial Systems Reconciliations 53

CFO Share

APRIL 11, 2024

A more nefarious version occurs when your vendor’s email gets hacked and the fraudster (using the vendor’s actual email address) claims they changed bank accounts. By entrusting financial operations to experts, small business owners can concentrate on areas that directly contribute to growth and customer satisfaction.

Securities 52

Securities CFO Education Auditing 52

Simply Treasury

JULY 12, 2021

For these larger categories they often have many different bank accounts with no aggregation and inconsistent user authentication, giving them no real-time knowledge of current cash position and FX risks, among others. Treasury system needs is a huge pound. An “everything-is-possible” green field.

Treasury 130

Treasury Cash Flow Forecasting Concentration Finance 130

PYMNTS

MAY 15, 2017

Headlines hyping its threat to existing financial systems abound, including one recently that somewhat distorts the threat that bankers feel about all FinTech startups that suggests that nearly 90 percent of bankers say they fear losing money to bitcoin startups. Back here in the U.S. —

Math 62

Math Currencies Startups Concentration 62

PYMNTS

OCTOBER 16, 2017

In those pieces, I acknowledged bitcoin was an interesting, even fascinating, innovation, but not the salvation of our global financial system — not even close. Bitcoin’s core principle of anonymity is anathema to operating a safe and secure global financial system. At least I hope so.

Currencies 71

Currencies Concentration Financial Systems Investments 71

PYMNTS

JULY 15, 2019

billion people around the world without access to a bank account to the world of digital payments at low or no cost. That tour will start with the Senate’s Banking Committee. When you look at these places with a high concentration of the unbanked, there are things we can do, but it is beyond any one player.”.

Currencies 40

Currencies Finance Banking Concentration 40

PYMNTS

OCTOBER 1, 2018

Ten years after Visa and Mastercard launched, they had each licensed their tech to thousands of banks that had cards in the hands of millions of consumers, who were using them to buy things at millions of merchants. But as the salvation of our global financial system, not even close. It isn’t because it won’t.

Currencies 85

Currencies Concentration Financial Systems Leverage 85