Sat.Dec 08, 2018 - Fri.Dec 14, 2018

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Amex Touts Success In Ripple Cross-Border Payments Pilot

PYMNTS

In a renewed show of support for blockchain technology , American Express General Manager of Corporate Payments Carlos Carriedo has suggested that its pilot tests with partner Ripple to enable real-time cross-border corporate payments have been a success. Reports in Invest In Blockchain on Tuesday (Dec. 11) said Carriedo spoke at the Wings of Change Europe conference and emphasized American Express’ interest in blockchain technology. “Blockchain is absolutely an option we’re

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How to Properly Record Deferred Revenue in SaaS

The SaaS CFO

Software subscriptions are the life of every SaaS business. But most SaaS companies I have spoken with are incorrectly recording their most important revenue stream. That is subscription revenue and the corresponding deferred revenue balance. And I don’t blame you. Often, your accounting is outsourced to a bookkeeper or accountant. Your bookkeeper compiles your financial […].

CFO 90
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Women of Jeopardy! on Defining Success

CFA Institute

As part of her research, Barbara Stewart, CFA, spoke to a particular group of women about how they feel about their intelligence, how they look at success, and what advice they’d give younger women.

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How 5G Will Shake Up Banking and FinTech?

PYMNTS

Financial institutions are in the midst of becoming more mobile, with many of those legacy operations opting to — or at least considering — working more closely with FinTech providers to upgrade services, retain customers and acquire new ones. The debut of 5G promises to add another tool that can aid such efforts. As that mobile technology get closer to mainstream introduction, the potential 5G ecosystem for FinTech and mobile banking is gaining clarity.

Banking 84
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Planning Your Restaurants Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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SWIFT CEO To Step Down In June

PYMNTS

SWIFT announced Wednesday (Dec. 12) that the company’s Chief Executive Officer Gottfried Leibbrandt has informed the board that he plans to leave the company at the end of June. In a press release, SWIFT noted that Leibbrandt has been in his job for seven years and played an important role in ensuring SWIFT remained on sound financial footing, improved upon SWIFT’s risk and security functions and oversaw the overhaul of technology at the company.

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BBVA, Porsche Complete $170 Million Loan With Blockchain

PYMNTS

One of the largest banks in Spain, Banco Bilbao Vizcaya Argentaria (BBVA), has completed a $170 million (€150 million) loan with Porsche Holding using blockchain technology, according to a report. Although the bank has completed blockchain loans before, it’s never done it with a non-Spanish customer, until now. One of the bank’s previous blockchain loans was completed with state-owned and -operated national electrical grid operator Red Eléctrica de España (REE) for $150 million in November.

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Cross-Border Payments Need More Than Bank-FinTech Collaboration

PYMNTS

When PYMNTS asked cross-border payments experts at the end of last year what they thought the driving trend would be for the industry in 2018, the consensus was all about collaboration , particularly between banks and FinTech firms. Throughout the year, that prediction has manifested into reality, as more traditional financial institutions (FIs) turn toward FinTech innovators to address the biggest pain points of the legacy correspondent banking system.

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Propel Notches $12.8M In Series A Funding

PYMNTS

To help low-income consumers get back on their feet, New York-based Propel has notched $12.8 million in Series A funding. Nyca Partners led the round, along with the participation of Kleiner Perkins, Andreessen Horowitz and Omidyar Network, as well as support from Thirty Five Ventures and Alexa von Tobel, the company said in an announcement. “Our investors are world-class experts in their respective fields,” Propel CEO Jimmy Chen said in the announcement. “They share an understanding

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Coinone Releases Payment App Featuring Ripple Technology

PYMNTS

Coinone, a South Korean-based platform for cryptocurrency exchange, has released a blockchain-powered remittance app called Cross, according to a report. Cross uses Ripple ’s blockchain network, RippleNet, and doesn’t rely on traditional banking mechanisms. It offers payment services for people who want to send money to Thailand and the Philippines.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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UAE Exchange, Ripple To Launch Cross-Border Remittance To Asia

PYMNTS

UAE Exchange, the United Arab Emirates-based company, and Ripple, the blockchain technology company based in the U.S., are gearing up to launch cross-border remittances to Asia using blockchain technology. According to a report in Reuters , citing UAE Exchange’s group CEO Promoth Manghat, who is also executive director and chief executive at Finablr, with Asia among the biggest recipients of remittances sent around the world in 2017 and with a lot of it coming from workers in the Middle Ea

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Walmart Opens eCommerce Store With Rakuten In Japan

PYMNTS

Walmart and Rakuten announced Tuesday (December 11) the opening of the first Walmart eCommerce store in Japan, dubbed Walmart Rakuten Ichiba Store. According to a press release , the store resides on the Rakuten Ichiba internet shopping mall, offering Japanese consumers access to a wide variety of U.S. products such as apparel, toys, and outdoor items.

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Decoupled Debit — Again?

PYMNTS

The year is 2007. Headlines are filled with news of a “revolutionary” product that will change the fortunes of merchants and unlock countless benefits for consumers when using it. Analysts at the time called this product “an historic opportunity” to bolster the merchant’s “corroding bottom lines,” and innovators rushed to build new applications to help them seize it.

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China’s Mobike Investigated Over GDPR

PYMNTS

Chinese bike-sharing company Mobike is being investigated by German regulators for potentially being in breach of the EU’s General Data Protection Regulation (GDPR). In a statement to the Financial Times , a spokesman said, “The Berlin commissioner for data protection and freedom of information had already planned to launch an investigation into car- and bike-sharing companies?

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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Today In Data: The ‘Two Steps Forward, One Step Back’ Dance In Payments And Commerce

PYMNTS

While progress is always ongoing in payments and commerce, its path isn’t always straightforward or even. In China, mobile payments adoption has been racing forward, and stateside its progress is notably slower. Brexit negotiations go forward, backward and sideways, such that the eventual endpoint remains hard to forecast. And yet, as technology improves and data is more easily collected and interpreted , progress marches on in payments and commerce as new channels for funds to flow worldwide k

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Bitcoin Falls Below $3,200 To Reach Lowest Level In Months

PYMNTS

Bitcoin fell to its lowest price in 15 months on Friday (Dec. 14), and analysts are predicting that further declines could be in store for the popular cryptocurrency. The price of bitcoin broke below the $3,200 mark to reach roughly $3,160 in the afternoon, MarketWatch reported. Daily FX Analyst Nick Cawley wrote in a note, which was reported prior to the latest drop, that the cryptocurrency could reach even lower lows heading into the future.

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Half Of Indian ATMs Could Close In Early 2019

PYMNTS

ATM machine companies in India are warning that they will have to shutter as many as half of India’s cash machines because of new regulations, reported the Financial Times. According to a report in the Financial Times, citing the Confederation of ATM Industry (CATMi), the group said it will have to close down less profitable cash machines, many of which are located in remote rural areas and small towns.

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Deep Dive: Making Smarter Payments Safer

PYMNTS

Banks and businesses handling personal information face a delicate balancing act as global systems embrace smarter payments. They must deliver services that customers and clients demand while securing their personal data. Data is crucial and — fortunately, for banks and businesses in the smarter payments space — plentiful. By some accounts , more than 90 percent of existing data was created after 2014.

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Accounting Software and ERP Readiness Guide

In this white paper, we explore the factors to consider in deciding whether the time is right for your Company to consider a new ERP or accounting software, the total cost of ownership and plans necessary to make the potential leap to these systems.

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Visa On SRC As The Single Digital Terminal Future Of eCommerce

PYMNTS

2108 has been the year of many things in payments and commerce. For Visa Global Head of Payments Products and Platforms TS Anil, it’s been a year in which many big steps have been taken on the journey toward giving merchants something that has made checking out in the store a safe, standard and interoperable checkout experience. A single digital terminal that can be used to create a secure, interoperable experience when consumers check out online — that experience comes by way of Secure Remote C

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Temenos Preps For Aussie Open Banking With Avoka Takeover

PYMNTS

Bank technology firm Temenos has struck a deal to acquire banking services and on-boarding firm Avoka in one of the largest exits for an Australian FinTech, reports in the Australian Financial Review said Wednesday (Dec. 12). Switzerland-based Temenos will acquire Australia-based Avoka for $245 million, reports said, following Temenos’ acquisition for Australia’s Rubik Financial last year.

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Card Payment Use Rises Globally

PYMNTS

The number of merchants accepting card payments around the world grew by 13 percent in 2017, to 69.2 million, according to a report. RBR, a research and consulting firm for banking and retail, released a forecast of payment card data through 2023, and found that card payment acceptance is growing at a fast rate. The two regions with the most growth were also the two least developed: Asia-Pacific and Central and Eastern Europe.

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Facebook Wants Engineers And Researchers For Blockchain Team

PYMNTS

Social media giant Facebook is looking to grow its blockchain team, according to a report. The company posted on its careers page that it’s looking for data engineers and scientists, software engineers and a product marketing lead for its blockchain team. The company said its ultimate goal is to “help billions of people with access to things they don’t have now – that could be things like equitable financial services, it could be new ways to save, it could be new ways to share information.

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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Raising The Roof With Platform Payments

PYMNTS

As a growing group of consumers around the globe adopt digital payment platforms and tools, some well-known players, including Google and Amazon, are now working to improve and expand access to the solutions that will make those transactions as frictionless as possible. In the latest Payments Powering Platforms Tracker , PYMNTS examines how digital payment platforms are being used to transform brick-and-mortar and remote transactions alike.

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TransferGo Receives $17.6M In Series B Funding

PYMNTS

TransferGo , an up-and-coming international money transfer company, has raised more than $17.6 million in a Series B funding round, according to a report. The London-based company, which was founded in 2012, is available in 47 countries and has offices in Warsaw, London, Berlin, Istanbul and Vilnius. With a customer base of upwards of 800,000 people – and almost 1,00 new ones per day – it’s one of the fastest money transfer services available.

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Most Bitcoin Owners Hold Less Than $100 Worth

PYMNTS

An analysis of bitcoin addresses shows that the majority of bitcoin (BTC) owners own only one-tenth of the digital currency, according to a report. Digital asset research company Delphi ran the numbers and found out that 22.9 million bitcoin addresses have at least some amount of bitcoin. However, of those, almost half have 0.001 BTC ($3.40) and about 90 percent have less than one-tenth of BTC ($340).

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Bitcoin Daily: IBM Eyes Blockchain For African Agriculture; CFTC Goes Back To School On Ethereum

PYMNTS

BitPay has announced that OneGold, a marketplace that combines the benefits of gold and silver with blockchain-based digital assets, is now accepting bitcoin and bitcoin cash. Founded by APMEX and Sprott, OneGold allows investors to buy, sell and redeem digital gold and other precious metals. “Cryptocurrency is an ideal payment method for ecommerce and precious metals where the risk of chargebacks, fraud and identity theft with traditional credit cards is high,” Sonny Singh, chief commercial off

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PowerPoint Best Practices for Creating Stellar Presentations

Mastering data visualization in PowerPoint will help accelerate your career because it positions you as someone who can present data that drives business decisions forward. think-cell's PowerPoint Best Practices eBook was created specifically for professionals aiming to master the art and science of data-driven storytelling. What’s inside: Practical Insights: Uncover valuable tips for crafting engaging and persuasive presentations.

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Amid AML Efforts, Regulators Focus On FinTech

PYMNTS

Much regulatory focus this past week came with headlines on anti-money-laundering efforts, aided by tech. As reported , a number of regulatory agencies — among them the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the Financial Crimes Enforcement Network, the National Credit Union Administration and the Office of the Comptroller of the Currency (OCC), in tandem with the Financial Crimes Enforcement Network — issued a joint statement.

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Italic’s Brandless Luxury eCommerce

PYMNTS

How does one build a brand that isn’t really a brand? It is a question that a new startup called Italic is tackling, as it looks to build a new type of marketplace where consumers can buy luxury-level goods at a fraction of the price they might pay for the luxury label sewn inside. The trick – and Italic’s secret sauce – is enabling the handful of specialized manufacturers sprinkled throughout Asia and Europe that produce luxury accessories, eyewear and handbags to sell directly to the consumers

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How Digital Will Change Brick-and-Mortar In 2019

PYMNTS

Give a deep and welcoming hello to the newest form of window shopping — a consumer behavior that will help to shape retail in 2019 and beyond, and a trend that stands as an increasing part of shopping, one that promises to impact brick-and-mortar merchants as they decide how to innovate. As detailed in the recent PYMNTS Remote Payments Playbook , consumers are turning away from physical stores when it comes to product discovery.