PYMNTS

AUGUST 11, 2020

With its losses mounting, the London-based digital bank may need to tap into its corporate reserves to keep up with its expansion plans. We increased daily active customers by 231 percent and the number of paying customers grew by 139 percent.”. The FinTech has since expanded to offer business banking. million (£106.5

Profit and Loss 95

Profit and Loss Foreign Exchange Startups Banking 95

PYMNTS

MAY 19, 2020

BlockFi said it was “able to confirm that no funds, passwords, social security numbers, tax identification numbers, passports, licenses, bank account information, nor similar non-public identification information was exposed as a result of this incident.”. dollars and Ukrainian hryvnias.

Foreign Exchange 84

Foreign Exchange Currencies Securities Numbers 84

PYMNTS

MAY 1, 2020

London-based Finablr , which owns two foreign exchange businesses, found that the overall debt of the company was $1.3 billion, which was much higher than the last reported number of $334 million from last June. The number does not include the debt of subsidiary Travelex Holdings.

Foreign Exchange 61

Foreign Exchange Restructuring Valuation Numbers 61

PYMNTS

JANUARY 12, 2017

banks — and large banks everywhere — are losing market share in their corporate clients’ FX needs, new data revealed. companies, the volume of foreign exchange services business conducted with U.K. banks has declined — as has the number of companies using a U.K. bank as their primary provider of FX services.

Foreign Exchange 40

Foreign Exchange Marketing Banking Numbers 40

PYMNTS

JANUARY 18, 2021

If the company chooses to proceed, the IPO could be the largest market debut ever made by a Southeast Asian company on a foreign exchange. The company said revenue for the unit had shot up more than 40 percent during 2020, while the number of users for its new wealth management service, AutoInvest, doubled during the month of December.

Foreign Exchange 79

Foreign Exchange Banking Retail Numbers 79

PYMNTS

OCTOBER 20, 2020

With the new partnership and solution, Mphasis customers can access new payments, working capital and Foreign Exchange services, with an aim toward meeting the needs of small and medium-sized businesses (SMBs).

Foreign Exchange 82

Foreign Exchange Healthcare B2B Finance 82

PYMNTS

JULY 15, 2020

businesses has broadened growth opportunities and opened up new revenue streams, the banking and financial services space hasn’t quite caught up to the modern needs of U.S. An alternative to this payment strategy is to open up a bank account in each market in which a business operates. New Goals, Old Tech.

Foreign Exchange 67

Foreign Exchange Currencies Accounting Banking 67

PYMNTS

DECEMBER 4, 2019

The rise in alternative small business lending players was first viewed as a competitive force against traditional financial institutions (FIs), although some legacy banks eventually embraced the new market entrants with partnerships and acquisitions to bolster their own small business lending activity. The High Street Bank Alternative.

Foreign Exchange 52

Foreign Exchange Currencies Invoicing Banking 52

PYMNTS

MAY 19, 2020

And, beyond emails and passcodes, the SSU said per the report that the database had “eWallets of cryptocurrencies” and “PIN codes for bank cards,” among other information. In other news, the government of Iran is aiming to limit digital currency exchanges with so-called “currency smuggling” regulations, CoinDesk reported.

Foreign Exchange 59

Foreign Exchange Currencies Securities Numbers 59

PYMNTS

MARCH 6, 2017

An article in a publication owned by the regulator called for a more open, competitive domestic foreign exchange (FX) market that enables a flexible FX rate mechanism to mitigate against cross-border capital fluctuation, according to reports. Deputy head of the State Administration of Foreign Exchange Fang Shangpu penned the article.

Foreign Exchange 40

Foreign Exchange Marketing Compliance Currencies 40

PYMNTS

DECEMBER 15, 2020

Increasingly, those value-added services are not only focusing on speed of payment, but also enhancing the data that end-users can access about their transactions, with new solutions from Bank of America and Scotiabank some of the latest to bring real-time rails to corporates. Bank Of America Wields SWIFT gpi.

Foreign Exchange 94

Foreign Exchange B2B Reconciliations Banking 94

PYMNTS

NOVEMBER 3, 2020

3) by Chinese regulators, according to a report from Business Insider , which quoted numbers from Bloomberg's Billionaire Index. The IPO attracted $3 trillion in bids and was going to be considered the biggest in history, planned to be listed both on the Shanghai and Hong Kong exchanges.

Foreign Exchange 64

Foreign Exchange Planning Banking Securities 64

PYMNTS

MARCH 26, 2019

Globalization and easing barriers to international expansion aren’t simply changing the way corporates manage foreign exchange exposure. While organizations now realizing that ignoring FX management is no longer an option, they continue to face unexpected challenges beyond the financial impact of bank fees and conversion rates.

Foreign Exchange 69

Foreign Exchange Currencies Cash Management Profit and Loss 69

PYMNTS

AUGUST 7, 2020

One of the largest points of friction that shoppers grapple with today is the ever-fluctuating exchange rate of foreign currencies they use when purchasing from sellers across borders. Sheley also highlighted the recent rise in neobanking as a key driver of the growing sophistication of consumer demands.

Foreign Exchange 120

Foreign Exchange eCommerce Retail Currencies 120

PYMNTS

NOVEMBER 9, 2017

Thanks to competitive pressure from FinTechs, traditional banks are often pressured to keep pace with innovation and meet evolving needs of their small business (SMB) customers. Pau Velando, general manager, Finance at Strands, recently told PYMNTS that even more surprising is that 83 percent of banks actually agree with that assessment.

Banking 40

Banking Foreign Exchange Technology Finance 40

Simply Treasury

JUNE 3, 2021

API’s have shown the use banks and corporates can make out of them. The third one is the real-time collection and payment (we can see that immediacy and the time factor have become crucial, at least for certain industries and B2C’s) and finally immediate (automated) management of foreign exchange risk.

Cash Flow Forecasting 130

Cash Flow Forecasting Treasury Forecasting Foreign Exchange 130

PYMNTS

AUGUST 27, 2019

The bank also noted that the number of API calls grew by 750 percent between November 2018 and August 2019. Other processes that can be conducted on the platform include real-time foreign exchange management, proof of payment, payments, request-to-pay and WorldLink transfers.

Treasury 63

Treasury Foreign Exchange Banking Numbers 63

PYMNTS

AUGUST 14, 2018

Capital market tech firm Axoni has become a leader in blockchain technology via partnerships with investment banks, asset managers and market infrastructure companies. Its AxCore technology is being used in a variety of markets, including complex derivatives and high-volume foreign exchange.

Foreign Exchange 40

Foreign Exchange Numbers Banking Retail 40

PYMNTS

APRIL 5, 2016

Uphold isn’t a bank, and it’s aiming to disrupt the traditional financial services industry. Last week, Uphold announced a partnership with India’s IDFC Bank, a move that allows Uphold’s business and consumer customers to conduct cross-border transactions to and from the home of the world’s fastest-growing economy.

Banking 73

Banking Foreign Exchange Currencies Forecasting 73

PYMNTS

JANUARY 31, 2018

The announcement follows increased regulatory action — customs officers in South Korea announced on the same day that they had uncovered around $600 million in illegal cryptocurrency foreign exchange trading. Illegal foreign currency trading of 472.3 Illegal foreign currency trading of 472.3

Foreign Exchange 48

Foreign Exchange Currencies Finance Banking 48

PYMNTS

OCTOBER 1, 2019

The FinTech allows customers to easily open their own full bank accounts online, supplying users with their unique International Bank Account Number (IBAN) as well as a debit card, for a subscription charge to be paid monthly.

Startups 46

Startups Foreign Exchange Currencies Banking 46

PYMNTS

AUGUST 30, 2019

Bose said the sheer number of transactions has been on the rise, while the average transaction value has been coming down. Even beyond eCommerce, a treasurer who is managing multiple bank accounts across several connected legal entities can leverage APIs to make the most judicious use of operating cash.

Treasury 40

Treasury Banking B2C Foreign Exchange 40

PYMNTS

FEBRUARY 25, 2020

A key feature of the tool is its ability to support connectivity with more than 1,000 banks, and a range of payment rails and protocols to support a suite of payment formats. RBC Bank recently announced that it has become the first bank in Canada to offer Interac’s e-Transfer: Bulk Request Money service for corporates.

Foreign Exchange 56

Foreign Exchange B2B Compliance Accounting 56

PYMNTS

FEBRUARY 18, 2020

Banks are increasingly embracing new channels to offer seamless omnichannel services to their customers, but doing so often creates silos that handle large amounts of collected data. Fraud orchestration can help solve this issue as it allows banks to build holistic fraud prevention defense systems and gain 360-degree views of their customers.

Foreign Exchange 52

Foreign Exchange Reconciliations Compliance Banking 52

PYMNTS

JUNE 22, 2020

Expanding into a new market — even one as geographically close as Mexico, for example — would present a number of logistical hurdles that many businesses may not be equipped to handle. Appealing to a wider array of customers within the U.S. Credit and debit card penetration in markets like Mexico is still low compared to the U.S.

Foreign Exchange 92

Foreign Exchange eCommerce Accounting Marketing 92

PYMNTS

FEBRUARY 22, 2019

22) that the company plans to team with NetsUnion, which operates as a clearing house for online payments and counts the People’s Bank of China (PBoC) among its stakeholders. Mastercard had said earlier this year that it still remains committed to gaining a bank card clearing license in China.

Foreign Exchange 53

Foreign Exchange Banking Marketing Numbers 53

PYMNTS

MARCH 23, 2016

Big banks have had numerous shots fired across their collective bows in the continuing clash with FinTech startups that have become upstarts. That far outclasses the 35 percent of respondents who said they would recommend the services offered by their traditional banks. A new study of more than 1,000 decision-makers at SMEs in the U.K.

Banking 40

Banking Foreign Exchange Manufacturing Currencies 40

PYMNTS

JANUARY 3, 2017

In the last week alone, top players in the distributed ledger space have made progress in their own initiatives, from membership growth within blockchain consortia to the pursuit of distributed ledger-related patents by top banks. 659 billion worth of goods and services trade between the U.S. and China accumulated in 2015 alone.

Foreign Exchange 99

Foreign Exchange B2B Technology Numbers 99

PYMNTS

MARCH 21, 2018

The solution is designed for banks and other payment companies to offer their own customers, Currencycloud noted. Companies can generate an international bank account number (IBAN) as well as a virtual account number (VAN) to support transfers in U.S. dollars or euros. dollars or euros.

Foreign Exchange 49

Foreign Exchange Currencies B2B Accounting 49

PYMNTS

JULY 29, 2019

Although consumers are still without formal access to traditional financial services, a growing number of them are closely tied to their mobiles phones, and all the commerce and payments opportunities offered by those devices. The middle-class and disposable incomes are growing in many African countries. Transaction Disputes.

eCommerce 77

eCommerce Foreign Exchange Accounting Retail 77

PYMNTS

NOVEMBER 9, 2016

Quite possibly, the biggest blockchain news this week was that Swedish bank SEB announced that intends to build a blockchain channel between New York and Stockholm to enable customers to make real-time transfers, as soon as next year. But banks aside, credit cards may have no choice but to get into the blockchain game.

Foreign Exchange 70

Foreign Exchange Banking Startups Securities 70

CFO News Room

FEBRUARY 2, 2022

Going forward, the network of participants and the number of use cases could continue to see rapid growth, giving cryptocurrencies in this category plenty of further upside. In 2021, there were a number of digital asset company IPOs, led by Coinbase , the largest listing (IPO, SPAC, or otherwise) of any digital asset company in history.

Concentration 130

Concentration Investments Securities Currencies 130

PYMNTS

NOVEMBER 7, 2019

The rest of it is wire payments with foreign exchange, domestic wires, as well as cash and other types of transactions and checks,” Koenigsberg told Webster. To get a sense of the size and scope, consider the fact that there is $120 trillion in annual B2B spend across the globe, he noted. Funds are settled either same or next-day.

B2B 49

B2B Foreign Exchange Banking Investments 49

PYMNTS

MARCH 17, 2020

Drilling down a bit, Caldeira said that the speeds of money transfers themselves are increasing across any number of use cases and verticals, and crossing borders with growing frequency. With global reach, Caldeira said, comes the need to scale globally, too.

Foreign Exchange 91

Foreign Exchange Compliance Securities Startups 91

PYMNTS

JANUARY 3, 2017

The launch of this blockchain consortium follows just days after reports announced that two other blockchain consortia saw their membership numbers increase.

Foreign Exchange 55

Foreign Exchange Finance Economics Investments 55

PYMNTS

DECEMBER 30, 2016

Two blockchain consortia have seen their membership numbers increase, a good sign that distributed ledger technology will see continued support in 2017. On Thursday, reports also said Japan’s own blockchain consortium, founded by SBI Holdings and its SBI Ripple Asia subsidiary, added another member to its group, Fukui Bank.

Foreign Exchange 55

Foreign Exchange Technology Numbers Banking 55

PYMNTS

MAY 24, 2017

Here’s what they raised this week, by the numbers: $4 million | Seed funding raised by Long Game savings app , led by Collaborative Fund and Thrive Capital. SBI Group, Bank of America Merrill Lynch and HSBC led the investment. The funds are flowing for companies large and small as they announce the outcome of recent investment rounds.

Foreign Exchange 40

Foreign Exchange Startups Investments Finance 40