PYMNTS

SEPTEMBER 14, 2016

government seems to be accepting the positive impact that digital currencies and blockchain could have on legacy financial systems, according to Business Insider. House of Representatives, asking the government to establish a national policy for technology. A non-binding resolution was passed on Monday (Sept.

Currencies 78

Currencies Financial Systems Securities Technology 78

PYMNTS

JULY 1, 2020

The Office of the Comptroller of the Currency (OCC) said in a report this week that it will examine how the coronavirus is impacting compliance by financial institutions (FIs). Additional steps may be necessary to properly segment and secure bank networks if employees use personal devices to connect to bank systems,” the OCC wrote.

Compliance 66

Compliance Banking Currencies Financial Systems 66

PYMNTS

JANUARY 20, 2021

We already have good examples of embedded B2B finance to go by in manufacturing, technology and professional services: A limited number of firms are using embedded payments to streamline the international invoicing and AR processes with their customers. This simplifies a typically complex, costly and slow process for both parties.

B2C 70

B2C B2B Currencies Invoicing 70

PYMNTS

MAY 11, 2020

Speaking at a virtual conference about the future of money, European Central Bank (ECB) executive board member Yves Mersch said a retail central bank digital currency (CBDC) is a game-changer. “A Mersch pointed out that central banks are focused on wholesale CBDCs because retail could rattle the entire global financial system.

Retail 52

Retail Currencies Banking Financial Systems 52

PYMNTS

AUGUST 14, 2019

Cooperation in an environment that is rapidly advancing on many technological fronts was the theme when FinCEN Director Kenneth A. When it came to technology, Blanco was specifically interested in – and concerned about – two main areas. Mobile Gaming And Digital Currency . million.

Compliance 65

Compliance Currencies Financial Systems Budgeting 65

PYMNTS

NOVEMBER 2, 2020

In other news, the Reserve Bank of Australia (RBA) is exploring the potential of a central bank digital currency (CBDC), in partnership with the National Australia Bank , Commonwealth Bank , Perpetual Limited and ConsenSys Software , the bank announced in a press release. RBA expects to finish the project at the end of this year.

Banking 64

Banking Risk Management Compliance Currencies 64

PYMNTS

JANUARY 20, 2020

Add Australia to the list of countries with central banks looking to bring fiat currencies into the digital realm — with some conditions attached. A CBDC would be denominated in the sovereign currency, and convertible at par with other forms of money.”. The Rewards.

Retail 40

Retail Currencies Banking Financial Systems 40

PYMNTS

OCTOBER 16, 2019

The governor of the Bank of England said he doesn’t think new financial technologies (FinTechs) will cause central banks to be obsolete. The fact is that the financial system … is the most heavily regulated part of the economy. The Swiss National Bank is also looking into digital currencies.

Banking 46

Banking Currencies Financial Systems Technology 46

PYMNTS

MAY 2, 2019

He noted that “new finance can unlock more sustainable and inclusive growth, provide consumers greater choice, [provide small business (SMB)] access to credit to grow — all of which ensures the financial system can become more resilient,” according to the publication. Also in the U.K.,

Banking 78

Banking Strategic Planning Currencies Financial Systems 78

PYMNTS

APRIL 9, 2020

Below, PYMNTS looks at some of the other payments and financial technology companies that are either innovating on top of existing rails or looking to bypass those legacy networks altogether with entirely new solutions. Sila Raises Funding to Nix ACH. Billhop Eases B2B Card Acceptance. The company has rolled out its service in the U.K.

B2B 83

B2B Invoicing Currencies Banking 83

PYMNTS

AUGUST 29, 2019

Sentbe has done billions of local transactions, and MoneyGram says the company lines up with its own goal of giving customers a broad range of options when it comes to digital currency transfers. . Sentbe, which is based in South Korea, wants to improve cross-border person-to-person money transfers by using new technology.

Banking 75

Banking Currencies Financial Systems Technology 75

PYMNTS

NOVEMBER 10, 2020

Many consumers move to new countries to pursue economic opportunities, but adjusting to these locations also requires learning the ins and outs of new financial systems — a transition that can be filled with friction. Check out the Tracker® to read more. About The Tracker.

Banking 86

Banking Compliance Currencies Financial Systems 86

PYMNTS

JUNE 1, 2018

We’re not building a new currency,” the official told Bloomberg. Estonia , which is among the most tech-friendly countries in eastern Europe, had been a leader in potentially issuing a national cryptocurrency, but the plan was criticized by Draghi earlier in the year when he said the euro can be the only currency in the country. “No

Planning 49

Planning Currencies Financial Systems Banking 49

PYMNTS

OCTOBER 9, 2019

The “rules of engagement,” as the BoE calls them, shows that financial institutions are taking digital currencies like Libra seriously. Facebook announced its Libra project in June and said it will be a “global currency and financial infrastructure” powered by a version of blockchain, the technology that underpins bitcoin.

Banking 44

Banking Currencies Financial Systems Finance 44

CFO News Room

JANUARY 18, 2023

financial system, has been used mainly in the past against banks and other financial institutions and in most cases has forced the institution to close. This type of action, a rarely used so-called death-knell sanction that cuts off the entity from the U.S. Lisa Monaco. said Wednesday. Deputy Treasury Secretary. Wally Adeyemo.

Treasury 100

Treasury Compliance Financial Systems Finance 100

PYMNTS

JUNE 9, 2017

When executives in the finance industry think of blockchain technology, its perception has shifted in the past few years in terms of how it could shape financial services — and therefore the economy — as a residual impact. Spain’s very first banking blockchain consortium is now comprised of 33 percent of the country’s banks.

Financial Systems 68

Financial Systems Healthcare Technology Banking 68

PYMNTS

SEPTEMBER 16, 2016

Smith went on in his speech to say that the lessons learned from the Bitfinex hack have improved the digital currency environment. Perhaps, with a few more $60 million learning opportunities, bitcoin should be well on its way to an established, viable currency. US Government’s National Policy On Technology.

Currencies 77

Currencies Concentration Securities Banking 77

VCFO

AUGUST 16, 2023

Money Laundering Prevalence and Practices When bad actors possess large sums of cash that they want to place into the financial system without raising flags, money laundering techniques such as “structuring” are used. As a result, they’re also more susceptible to impacts like those described above.

Compliance 87

Compliance Banking Risk Management Currencies 87

PYMNTS

SEPTEMBER 30, 2019

Beyond the lures of money, there are other nation-states that may want access to a financial system, but for different reasons. wields a great deal of influence, especially in the international monetary system. Our currency is the world’s reserve currency,” said Visner, “and the U.S. The Corrosion Of Power.

Nonprofit 65

Nonprofit Currencies Financial Systems Securities 65

PYMNTS

AUGUST 16, 2016

On the United Nation’s OnlineVolunteering.org website, the agency said it is looking for volunteers to help boost the adoption of the digital currency in Africa. The UN is looking for two people who speak English fluently and are proficient in information technology and telecommunications.

Currencies 46

Currencies Education Financial Systems Economics 46

PYMNTS

JUNE 25, 2019

financial system. The Senate Banking Committee will hold its own hearing on the social media giant’s digital currency, called Libra, the day before. to examine the impact of the proposed merger between BB&T and SunTrust banks to form Truist Financial. Committee Chairwoman Maxine Waters, D-Calif.,

Currencies 66

Currencies Financial Systems Banking Planning 66

PYMNTS

SEPTEMBER 28, 2016

Earlier this week, blockchain arrived on Capitol Hill by way of the formation of the Congressional Blockchain Caucus focused on examining and educating lawmakers on the payments technology and issues associated with the digital currency. The bill is a direct aim against losing financial innovation to the U.K.’s

Startups 74

Startups Currencies Education Banking 74

PYMNTS

OCTOBER 5, 2020

Here’s the latest news from Google and the technology industry, which is coming under increasing scrutiny from regulatory watchdogs, trade organizations and politicians globally. Brussels also aims to have big platforms allow users to remove programs that come already installed on technologies like computers and smartphones.

Banking 91

Banking Compliance Advertising Tax Planning 91

PYMNTS

FEBRUARY 22, 2018

Cortex’s mobile-centric, closed-loop payment and secure tokenization solutions provide industry-leading technologies and security to our platform,” Uphold COO William Dennings said in the announcement. “It million partnership with former Ripple executive, Greg Kidd, to increase the company’s connectivity to financial systems.

Currencies 43

Currencies Financial Systems Leverage Securities 43

PYMNTS

OCTOBER 14, 2016

This rogue group also voiced fears that bitcoin’s strong position in the market could be usurped by an alternative digital currency. Governments the world over are struggling with bitcoin and blockchain; regulatory frameworks for conventional financial systems are not applicable to digital currencies. But until then….

Currencies 77

Currencies Banking Financial Systems Technology 77

PYMNTS

JANUARY 22, 2020

Sabre Vice President of Product Management Becky French discussed this strategy with PYMNTS in a recent Masterclass video , noting that this collaboration has already yielded stronger cash flow and financial management practices for joint clients. NatWest Bolsters SMB Loans With Cards. Edenred Grows Payroll Card Presence.

B2B 52

B2B Currencies Securities Education 52

PYMNTS

JULY 19, 2019

Sentbe has done billions of local transactions, and MoneyGram says the company lines up with its own goal of giving customers a broad range of options when it comes to digital currency transfers. . Sentbe, which is based in South Korea, wants to improve cross-border person-to-person money transfers by using new technology.

Currencies 53

Currencies Financial Systems Numbers Securities 53

PYMNTS

AUGUST 4, 2019

Elliptic collaborated with researchers from the Massachusetts Institute of Technology (MIT) on the data set, which was taken from 200,000 bitcoin transactions worth $6 billion — the largest set of labeled transaction data publicly available in any digital currency in the world.

Compliance 46

Compliance Currencies Financial Systems Startups 46

PYMNTS

JANUARY 10, 2017

India isn’t only trying to fight corruption with its move to take high-denomination currency out of the system; it is aiming to get rid of plastic money by 2020. In early November, Modi announced that the country’s 500-rupee and 1,000-rupee banknotes were being taken out of circulation.

Currencies 52

Currencies Financial Systems Accounting Sales 52

PYMNTS

JULY 26, 2017

Treasury’s Office of the Comptroller of the Currency (OCC) has again released its report on top risks facing banks, with its Spring 2017 analysis warning FIs that threats are coming from all angles. Noreika, acting Comptroller of the Currency, in a statement. Today, the federal banking system remains healthy,” he continued. “As

Banking 46

Banking Compliance Currencies Concentration 46

PYMNTS

JUNE 17, 2019

The dispute over the Office of the Comptroller of the Currency ‘s (OCC’s) national bank charter, which became available to FinTech firms last year, has reportedly caused technology conglomerates to shy away from a tool that aims to provide nonbank firms with a more streamlined way to operate on a national level.

Banking 56

Banking Currencies Financial Systems Technology 56

PYMNTS

NOVEMBER 7, 2019

In 2018, the crypto world was seen to be of marginal importance to the global financial system. In other news, Webjet, the owner of WebBeds, has announced the launch of Rezchain , a new blockchain-based technology that can find and eliminate discrepancies in hotel booking transactions.

Currencies 40

Currencies Financial Systems Securities Investments 40

PYMNTS

MARCH 2, 2018

Why steal bitcoin when you can steal the technology that enables one to make more of it? But if the thieves intended to actually use the computers to extract bitcoin, they could theoretically pull in an even greater profit all in an untraceable digital currency. “Everything points to this being a highly organized crime.”

Financial Systems 44

Financial Systems Currencies Economics Securities 44

PYMNTS

JUNE 5, 2018

According to reports in CoinDesk , care of a Chinese government official, China’s central bank has completed its work on a blockchain-based system for digitizing checks issued domestically by businesses. ” The work is the culmination of a years-long effort by the Central Bank’s R&D department, according to Di. .”

Currencies 44

Currencies Financial Systems Leverage Banking 44

PYMNTS

MARCH 29, 2016

While fintech innovators have instead turned towards the underlying technology of the cryptocurrency – blockchain and other distributed ledgers – bitcoin as its own currency is unlikely to take off like some once thought it would. This isn’t a case of an innovator looking to push bitcoin and its related technology on the market.

Currencies 41

Currencies B2B Invoicing Technology 41

PYMNTS

OCTOBER 19, 2016

Their investment strategies are also impacted by the issue of currency risks and inflation, both cited by about a fifth of survey respondents as a top macroeconomic concern. Most of the CFOs surveyed also said technology is changing the way they do business, and many of these professionals are reluctant to adopt disruptive tools.

Treasury 70

Treasury Prioritization Economics Leadership 70

PYMNTS

JUNE 30, 2017

Things that run the gamut from being more or less variations on existing database technologies to things that are really sci-fi and exciting but very different than anything that is out there right now,” he explained. Also important, he added, is resisting the tendency to attempt to boil the ocean in response to an emerging technology form.

B2B 77

B2B Currencies Banking Leverage 77