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Can big banks be nimble of foot when it comes to FinTech? One giant — JPMorgan Chase & Co. — is taking some definitive steps on that stage. JPMorgan announced today (Oct. 17) it is acquiring payments platform WePay. The combination will create an ecosystem of platform developers and small businesses, powered by WePay’s ability to integrate payments functionality into software and fueled by Chase’s global reach, small business product portfolio and network of 4 million small businesses.
SiriusDecisions, a research and advisory firm that focuses exclusively on business-to-business sales productivity and marketing, studies how sales reps spend their time. In one recent study, the company analyzed how much time sales spent on 39 activities, from responding to internal emails and calling customers to searching for sales content. The results of the study. read more ?.
On Friday (Oct. 20), Mastercard announced news that it will be opening up access to its blockchain technology through its developer’s API. Initially, the technology will be made available for B2B transactions, specifically to address the demands of cross-border payments. Mastercard is not the only firm delving into blockchain. The company joins Google, Overstock, Citi and Goldman Sachs in embracing the distributed ledger technology.
From an acronym known mostly by programmers in the early 2000s to something thousands of innovators have embraced to ignite numerous innovative solutions, it’s been an electric journey for the application program interface (API). According to David Koch, chief commercial officer at financial services provider FI.SPAN — a company that build an API-based platform to connect FinTechs and corporate customers to financial institutions (FIs) — APIs have unleashed an incredible number of opportunities
Automating time-consuming manual tasks can save your firm hundreds of hours–and thousands of dollars. But it can also have longer-lasting benefits, like helping you attract and retain the next generation of CPAs, and we don’t need to tell you how important that is amid the current generational staffing crisis in the tax and accounting profession. You'll want to save your seat for this new webinar with industry expert Joe Wroblewski, where we'll explore how to: Maximize ROI with Cost-Effective Te
Marqeta , an open API card issuer, and Alipay , a third-party payment platform popular in China, have announced news of a partnership that will make using Alipay easier in the U.S. Marqeta’s API platform will reportedly ease completion of Alipay’s payments in real time. Alipay has more than 520 million registered users in China, according to the firm.
In corporate finance, “Excel spreadsheets” is nothing short of a taboo. But a new solution from Bank of America Merrill Lynch is looking to make better use of the notoriously manual tool. The financial institution (FI) announced news on Tuesday (Oct. 17) that it is deploying artificial intelligence (AI) and API technology to integrate its solutions directly with Microsoft Excel.
In corporate finance, “Excel spreadsheets” is nothing short of a taboo. But a new solution from Bank of America Merrill Lynch is looking to make better use of the notoriously manual tool. The financial institution (FI) announced news on Tuesday (Oct. 17) that it is deploying artificial intelligence (AI) and API technology to integrate its solutions directly with Microsoft Excel.
For all of the commotion about Brexit, it appears as though London’s reign over the world of FinTech may be secure — even after the U.K. officially exits the EU. Research published last month in the Z/Yen Global Financial Centers Index (GFCI), and reported in Reuters, found that London remained the world’s top financial hub, surpassing New York City, Hong Kong and Singapore — despite market volatility and uncertainty over Brexit.
Signing at the end of a transaction at the physical point of sale is hardly ever about showing off a consumer’s best penmanship. Often distracted and always in a hurry, buyers typically produce what could only be described as a cross between modern art and a second grader’s early attempts at cursive. And nothing that could ever be mistaken for a proper human name.
Between hurricanes, wildfires and the political uncertainty everywhere, the world has looked a little bleak lately. However, we have not come to bum you out on a Saturday. Quite the contrary. We have come to spread the goods news of the latest financial services innovation. We are, of course, talking about Wu-Tang Financial. No, we’re not kidding. Yes, we know it is a Chappelle show bit.
In an era of nearly constant data breaches, securing commerce is now everyone’s concern. And for good reason. In addition to the potential liability that issuers and merchants may face if stolen credentials or identities are used online, breaches only further fuel consumer concerns over whether – or how – to use their payments credentials securely in an increasingly digital world.
Automation generally supercharges any process and brings its value to the forefront. See how infusing automation such as ART (our month-end close solution), into your close can get you to the next level of closing. We will share a live demo of SkyStem's solution, ART and share the key elements of month-end close automation. Through ART, we'll take a look at: What month-end close automation entails Which process steps can and should be automated Benefits of achieving process automation, and Why i
When catering to a limited group of members, credit unions need to think carefully about how to address member needs. That’s why some credit unions are embracing the market’s “mom and pop” legacy and emphasizing their ability to offer the type of personalized member services that rival banks and FinTechs struggle to deliver. The latest PYMNTS Credit Union Tracker™ , powered by CO-OP Financial Services, features news on new mergers and partnerships alike, along with notable recent headlines from
Innovation is oxygen in payments. For financial services firms, innovation is spurring speed, killing friction and fostering loyalty among customers. In fact, it should likely always be part of the corporate agenda — if it’s done right, that is. That, itself, begs the question: What is innovation, really? When are new rollouts just necessary updates to keep a product fresh, and when are bells and whistles just, well, noise?
In South Africa, where cash still reigns and there are few signs of merchants and consumers moving away from paper and coin payments, small- and medium-sized businesses (SMBs) face several payments dilemmas. Many are unable to accept credit cards, and many cannot afford the mainstream point of sale (POS) terminals and solutions — which can also take a very long time to procure.
Grubhub isn’t just about hungry people. It’s a hungry brand, gobbling up three different food delivery competitors in the last quarter alone: Boston-based Foodler, Groupon’s OrderUp and most recently, Yelp’s Eat24. The Eat24 deal closed last week on Oct. 10 and rounded out the company’s acquisition plans just in time for the end of Q2. Grubhub paid $288 million for the company — in cash — which Bloomberg notes is twice what Yelp paid when it acquired the smaller food delivery company two years a
Mid-year performance reviews aren’t just boxes for HR to check. Paycor’s toolkit empowers leaders to: Identify high-potential team members. Boost engagement with meaningful feedback. Support struggling employees. Nurture top talent to drive results. Learn how to ignite employee potential through meaningful feedback. When you nurture top talent, everybody wins.
Monday (Oct. 16) news reports from QSR magazine shared that yet another well-known brand has recently been hit with a cyberattack. Quick service restaurant (QSR) pizza chain Pizza Hut has announced its own cybersecurity incident, a breach that lasted approximately 28 hours beginning on Oct. 1. QSR magazine described Pizza Hut’s cyberattack as a “temporary security intrusion.
Customers are increasingly making purchases online and making decisions based on shipping – namely, how fast and how cheaply a retailer can get products to their doors. But what can merchants do when shipping can’t be sped up? In the new PYMNTS.com Omni Usage Report, a Vantiv collaboration, PYMNTS delves into the new tools and solutions designed to help retailers increase shipping speeds while cutting logistical costs.
On Friday (Oct. 20), PayPal and Facebook announced news that they are expanding their partnership. Facebook users will now be able to send and receive peer-to-peer money transfers through PayPal from within the social media website’s Messenger app. Facebook has been busy expanding the range of services offered within its mobile application, recently moving to monetize its instant article and Messenger games features for publishers and developers.
Contractors are struggling to take accounting into their own hands, according to a new report from SJD Accountancy. According to news from SmallBusiness.co.uk on Thursday (Oct. 19), an SJD Accountancy survey of 359 self-employed small business (SMB) contractors in the U.K. found that 72 percent perform their own accounting, with 69 percent of them noting that this causes them stress.
In the climb from contributor to leader, the rules quietly change. If you’re aiming for the summit, the air gets thinner—and what got you here won’t be enough to get you to the top (a concept first popularized by Marshall Goldsmith in his book What Got You Here Won’t Get You There ). What made you successful early in your finance career—technical accuracy, sharp analysis, flawless execution—won’t be what carries you to the next level.
In what may be South Africa’s largest data breach, hackers may have gotten away with extensive personal information, including ID numbers, income, marital status, employment details and property ownership information. According to a news report in The Next Web , after the team at iAfrikan – along with security consultant Troy Hunt – spotted the largest data breach thought to have transpired in South Africa , it discovered that personal information was breached for both living and deceased people
The Florida Restaurant and Lodging Show is an annual three-day event for hospitality professionals to network, source, purchase and learn about new industry trends to follow, how to increase profits and how to ramp up their restaurant or lodging business to engage and serve customers in innovative ways. This year’s event was originally scheduled for three days starting Sept. 10, but when event director Tom Loughran of Urban Expositions (which hosts the event) heard that Hurricane Irma would be m
More than 50 percent of Chicagoans will do the majority of their holiday shopping online this year, according to a survey from Accenture. The proportion of shoppers who said they plan to shop primarily at brick-and-mortar retailers stands at 35 percent. Holiday purchases are no longer restricted to the weekend after Thanksgiving, reported The Chicago Tribune.
Call it the 7 percent solution. Or rather, 7 percent … in need of a solution. Accounts payable (AP) remains a laggard when it comes to automating the cash flow cycle. Just 7 percent of U.S. firms automate that function, according to the Federal Reserve Bank of Minnesota. Other stats bear out just how far behind the curve technology is in fostering efficiency in this critical link tied to supply chain relationships.
The most overlooked, yet most critical, element of transformation is preparing people for change. Automation and AI aren't just technical upgrades, they’re cultural shifts which can challenge identities. That’s why change management isn’t a side project—it’s the foundation. In finance, where precision and process rule, navigating change can feel especially disruptive.
Banks have always turned to third-party FinTechs to integrate add-on services for their customers. As interest in corporate financial services heats up, financial institutions (FIs) are increasingly turning to these partners to enhance their B2B offerings, too. Like their corporate customers, FIs are beginning to trust the cloud to deploy and maintain some of these solutions.
More bad news for Wells Fargo : The financial institution has fired four foreign exchange (Forex) bankers following an investigation into that business by both the bank and regulators. According to The Wall Street Journal , the reason for their terminations has not been released. Sources said the four bankers let go were Simon Fowles, recently global head of Foreign Exchange Trading; Bob Gotelli, recently head of Foreign Exchange Global Sales; Jed Guenther, recently a regional head of foreign ex
A new survey released on Wednesday (Oct. 18) suggests that small businesses (SMBs) are likely to reduce borrowing activity in the second half of 2017. The latest data from Pepperdine University’s Graziadio School of Business and Management, along with Dun & Bradstreet, found that small businesses surveyed expected slower annual revenue growth for the second half of the year.
In B2B payments, it’s not just the movement of money that’s a pain point for companies — it’s the tracking of that payment and the ability to reconcile those transactions that can be a major headache for both payers and payees. In an announcement on Tuesday (Oct. 17), Visa said it is tackling that issue through a new partnership with accounts receivable (AR) and cash management company Billtrust.
Finance used to be the function that counted, now it's the one that’s counted on. 📊 For accounting firms, controllers, and finance leaders, expectations are rising faster than headcount. Businesses want agile forecasts, granular analysis, seamless reporting, and smart automation—often without added resources while demanding uncompromised accuracy and compliance.
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