PYMNTS

AUGUST 6, 2020

As bank-FinTech collaborations evolve, more traditional financial institutions (FIs) are not only implementing services and technologies developed by FinTech partners, but they’re also lending their own expertise to augment FinTech solutions. Bottomline Rolls Out Open Banking Service. Airwallex Taps Deutsche Bank.

Banking 110

Banking Foreign Exchange Accounts Payable Technology 110

Global Finance

OCTOBER 11, 2024

Global Finance presents its 31st annual list of best banks worldwide. Banks face an uphill battle as supply chains remain disrupted, regional conflicts continue to build, and the fear of bank failure returns. Industry leadership, advancements in digitalization and corporate citizenship also factored in.

Banking 111

Banking Foreign Exchange Profit and Loss Finance 111

PYMNTS

DECEMBER 28, 2018

The Central Bank of the Russian Federation (CBR) announced that it has revoked the licenses of five Russian foreign exchange (FX) trading companies. The move will give major local banks control of the market. 27, and must stop all operations and return funds to their customers by that time.

Foreign Exchange 87

Foreign Exchange Banking Compliance Securities 87

PYMNTS

APRIL 29, 2020

New solutions continue to roll out as a result of open banking frameworks around the world and banks’ increasing willingness to collaborate with FinTechs. This week’s look at the latest in bank-FinTech collaborations reveals two new open banking initiatives from FinTechs designed to address back-office friction for banks.

Banking 95

Banking Foreign Exchange Invoicing Finance 95

PYMNTS

SEPTEMBER 22, 2020

No longer is open banking solely for consolidating financial information into a single platform for one end user. Acumatica Links Its ERP Into Bank Data. Integrated into its ERP solution, the new feature links electronic banking fees to corporate card spend, allowing for automated receipt creation. In the U.K.,

Banking 110

Banking B2B Foreign Exchange Currencies 110

PYMNTS

DECEMBER 10, 2020

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. Customers can make payments via Bank of America’s SWIFT gpi solution. The tool is aimed at improving speed, security, transparency and compliance. .

Foreign Exchange 104

Foreign Exchange Banking Treasury Compliance 104

Global Finance

OCTOBER 31, 2024

Africa : UBA United Bank for Africa (UBA) is celebrating its 75th anniversary. With a portfolio of over a million SME clients and a loan book of $90 million, the bank has been instrumental in ensuring that SMEs remain the engine of growth. The bank also ensures easy transaction processing through its UBA Afritrade and UBA Connect.

Banking 52

Banking Finance Construction Foreign Exchange 52

Global Finance

JANUARY 9, 2025

Incorporated in Hong Kong in 1918, BEA is a leading global bank listed on The Stock Exchange of Hong Kong, and operates one of the largest local branch networks. In the Chinese Mainland, BEAs presence dates back to the opening of the Banks Shanghai branch in 1920.

Foreign Exchange 52

Foreign Exchange Currencies Banking Investments 52

PYMNTS

SEPTEMBER 21, 2020

In today’s top news in digital-first banking, Next Insurance is aiming to raise new capital that would value the FinTech startup at $2.25 billion, and FLEETCOR has come to an arrangement to purchase cross-border payment company Associated Foreign Exchange (AFEX). FLEETCOR Buys AFEX To Boost Cross-Border Payments.

Foreign Exchange 89

Foreign Exchange Banking Nonprofit Valuation 89

PYMNTS

DECEMBER 27, 2020

The People's Bank of China criticized Ant on Sunday (Dec. The Chinese central bank's statement came after it had met with representatives of Ant and regulatory officials from the country's securities, banking and foreign exchange sectors, presented as a Q&A with PBOC vice governor Pan Gongsheng.

Concentration 90

Concentration Foreign Exchange Banking Valuation 90

PYMNTS

NOVEMBER 13, 2020

But it was a Banking-as-a-Service company that led the roundup this time, with one startup looking to expand into Credit Cards-as-a-Service with its latest investment. The company secured the funding from an unnamed angel investor, reports said. million in new funding for U.K.

B2B 91

B2B Banking Foreign Exchange Startups 91

PYMNTS

JUNE 15, 2020

In addition, the release says the partnership will allow for more visibility on bank fees and better payment routing through the use of Goldman’s advanced machine learning techniques. Terry Beadle , GTreasury’s global head of Corporate Development, said the combination would prove valuable.

Foreign Exchange 99

Foreign Exchange Treasury Currencies B2B 99

PYMNTS

JULY 9, 2019

In another solution aimed at bank account consolidation, Neo announced today (July 9) that it is expanding its foreign exchange services to include the launch of a multi-currency account after receiving clearance by the Bank of Spain. Open Banking Opportunity. The FX Opportunity.

Foreign Exchange 60

Foreign Exchange Banking Currencies Accounting 60

PYMNTS

DECEMBER 20, 2018

Promsvyazbank, the Russian state bank that was hit by sanctions by the U.S., has lowered its security deposits that go to Visa and Mastercard, reported RT.com. According to a report in RT.com , the move is being taken by converting domestic banking transactions to Russia’s payment system MIR, which it launched in 2015.

Securities 46

Securities Foreign Exchange Banking 46

Global Finance

JULY 26, 2024

Banking Circle is the winner of our award for Best Embedded Treasury Solution, providing the core financial infrastructure that allows businesses to build and offer embedded financial solutions. Backbase is another winner of two awards, as Best Non-Bank for Treasury FX Services and for Best A/P & A/R Integrated Solution.

Cash Management 111

Cash Management Treasury Foreign Exchange Banking 111

PYMNTS

JULY 24, 2020

London startup mobile bank Revolut Ltd. has secured $80 million in new funding at a $5.5 Founded in 2015, Revolut began by offering prepaid debit cards that allowed users to avoid foreign exchange fees while traveling abroad. In June, Revolut added American Express to its open banking platform.

Startups 102

Startups Foreign Exchange Valuation Invoicing 102

PYMNTS

JULY 7, 2017

Banks were once the great riverbed of financial activity. Today, the flow of cash is gradually being diverted through other, third-party channels because of services that are unavailable from banks. By the same token, having options creates insurance, because banks can have a Plan B in place.

Banking 73

Banking Foreign Exchange Securities Leverage 73

PYMNTS

JANUARY 7, 2021

The suite gives corporate treasury and finance professionals a new level of visibility into banking transactions and connections, with a security measure no matter where it's accessed. The new marketplace will be available through the Fides Multibanking Suite web portal, the release stated.

Finance 88

Finance Foreign Exchange Treasury Transportation 88

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

SEPTEMBER 4, 2019

B2B Pay plans to roll out API-enabled banking services, the ability to create an unlimited number of International Bank Account Numbers (IBANs), credit card processing and solutions related to cryptocurrency. bank Barclays announced support for B2B Pay as part of its Tel Aviv Barclays Accelerator program. In 2016 U.K.

B2B 59

B2B Banking Foreign Exchange Pharmaceutical 59

PYMNTS

JUNE 16, 2020

Foreign exchange giant Travelex is pulling its offer of sale to prospective buyers after none of the buyers could offer an acceptable deal to the company’s banks and lenders, Financial Times (FT) reports. The company said Monday that it has a temporary waiver from around 70 percent of the holders for its senior secured notes.

Sales 52

Sales Foreign Exchange Banking Restructuring 52

CFO News Room

JANUARY 25, 2023

In the early days of the COVID pandemic, the Federal Reserve and central banks around the world pulled out all the stops. A prime example of those are small banks that face considerable and/or unpredictable seasonal business fluctuations. It began with a massive conventional war in southern Europe, which led to rising global tensions.

Economics 130

Economics Foreign Exchange Finance Banking 130

PYMNTS

SEPTEMBER 15, 2020

SBM Bank India , the Mumbai-based lender, and Mastercard have introduced a premium debit card for high-net-worth customers. Additionally, SBM customers can get preferential personal banking services, such as better rates on savings accounts with monthly interest payouts and competitive foreign exchange rates, the bank said. .

Banking 60

Banking Foreign Exchange Invoicing Securities 60

Global Finance

MAY 6, 2025

Security risk: Ghana is free from terrorist attacks, but its northern neighbor, Burkina Faso, faces attacks from Islamic militants, raising concerns about security threats in northern Ghana. billion in total reserves, the central bank could run out in about three and a half months. But Ghana also owes the IMF some $2.5

Foreign Exchange 52

Foreign Exchange Economics Investments Pharmaceutical 52

PYMNTS

DECEMBER 15, 2019

The Royal Bank of Scotland (RBS) is reimbursing 40 million pounds ($53 million) to about 730,000 customers after workers at the bank were found to be manipulating foreign money transfers to get more money for the financial institution, according to a report by The Guardian. The bank recently reached a $4.9

Foreign Exchange 52

Foreign Exchange Banking Securities Numbers 52

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

AUGUST 14, 2020

“There are many requirements that are initially overlooked, and that’s where treasury teams can play a very important role,” he said, highlighting processes like establishing new bank accounts, securing new card acquirer and payment service provider relationships, and managing foreign exchange exposure – all of which occur in the DTC migration.

eCommerce 118

eCommerce B2C Treasury B2B 118

PYMNTS

JUNE 30, 2019

No doubt by now most payments watchers are familiar with Libra , the Facebook plan to bring a new global cryptocurrency to market that seemingly seeks to do nothing less than upend global banking. Libra, after all, is already under the collective lenses of global regulators over privacy and security concerns.

B2B 109

B2B Currencies Foreign Exchange Transportation 109

PYMNTS

DECEMBER 4, 2020

That’s why we introduced a new, secure way to accept payments through websites, and we have enabled customers without an online presence to get paid fast through secure payment links,” said Revolut CEO and Founder Nik Storonsky. banking license in California. with interstate agreements, according to the unnamed source.

Foreign Exchange 73

Foreign Exchange Currencies Banking Securities 73

Global Finance

MAY 6, 2025

African Banks ave operated in key markets outside the continent mainly through representative offices. The number of homegrown African banks becoming ambitious and opening operations in Western capitals is rising. Zenith Bank , Vista Bank, and Banque Exterieure dAlgerie (BEA) have announced plans to venture into France.

Banking 52

Banking Profit and Loss Foreign Exchange Finance 52

PYMNTS

OCTOBER 22, 2020

A key part of this effort is cross-border payments, which are vital to keeping supply chains running smoothly and securely in the more than 100 countries in which GE operates. The average global company works with at least six banks and 40 percent of them make payments in at least six currencies. We've suffered losses with the company.

Healthcare 98

Healthcare Treasury Foreign Exchange Economics 98

PYMNTS

APRIL 16, 2019

Deutsche Bank is reportedly being pressured by European regulators to trim its U.S. investment bank further after years of concerns that the unit is too large and too unprofitable. investment bank should shrink. investment bank should shrink. Deutsche has already taken measures to reduce the size of the investment bank.

Investments 49

Investments Banking Foreign Exchange Securities 49

PYMNTS

JULY 23, 2020

Open banking has been picking up steam in Latin America for more than two years. Brazilian lawmakers have been developing open banking plans since 2019, for example, outlining rough guidelines to be enacted late this year. It also analyzes how the pandemic is affecting the future of open banking in. the region.

Banking 66

Banking Planning Foreign Exchange Securities 66

PYMNTS

DECEMBER 11, 2019

As the open banking business model permeates into the B2B financial services market, FinTechs and traditional financial institutions continue to find new use cases for API integrations and connectivity to elevate the business-user experience. SMBs that nearly half (48 percent) said they don’t believe technology will impact their business.

Banking 52

Banking Foreign Exchange Reconciliations B2B 52

Global Finance

JULY 24, 2024

Africa— Rand Merchant Bank On the African continent, Rand Merchant Bank (RMB) strives to exceed the expectations of its clients by combining high levels of service with an exceptional technological platform to deliver effective sub-custody solutions covering all elements of trade transactions, as well as reporting and analytics.

Banking 52

Banking Foreign Exchange Risk Management Leverage 52

Global Finance

JULY 24, 2024

Africa— Rand Merchant Bank On the African continent, Rand Merchant Bank (RMB) strives to exceed the expectations of its clients by combining high levels of service with an exceptional technological platform to deliver effective sub-custody solutions covering all elements of trade transactions, as well as reporting and analytics.

Banking 52

Banking Foreign Exchange Risk Management Leverage 52

PYMNTS

JANUARY 9, 2020

Lenders including Barclays, HSBC, Royal Bank of Scotland and Virgin Money had to stop foreign currency services after exchange provider Travelex was hit by a ransomware gang, according to reports on Thursday (Jan. Travelex’s network of branches continue to provide foreign exchange services manually.”.

Currencies 52

Currencies Foreign Exchange Banking Securities 52