PYMNTS
AUGUST 2, 2017
Good news for FinTech startups: in the U.S., venture capitalists have been boosting their activity in the market, with Q2 FinTech investments regaining its strength, according to analysts at KPMG. The firm’s Pulse of FinTech report for Q2 2017, released this week , found overall FinTech funding in the U.S. increased to $2 billion in the quarter, up from just $500 million in Q1.
Planful
AUGUST 3, 2017
Purpose-built EPM applications for budgeting and planning include workflow, process management, and other pre-built functionality designed to streamline budgeting, planning, and forecasting. And for many organizations, financial consolidation is often viewed as a separate process and system that may be required when the reporting requirements become more complex.
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PYMNTS
AUGUST 4, 2017
Cyberattacks have become so common that criminals don’t even have to launch one in order to get victims to pay up; all they have to do is threaten. The distributed denial-of-service (DDoS) attack has made a massive resurgence in Q2, particularly Ransom DDoS, or RDoS. In an RDoS attack, cybercriminals threaten to launch a DDoS attack on a victim’s critically important online resources if they don’t pay up.
PYMNTS
AUGUST 4, 2017
When Visa announced its Cashless Challenge a few weeks ago, it obviously hoped to make some news. After all, directly incentivizing 50 food-focused small- and medium-sized businesses (SMBs) to opt out of accepting cash entirely — with $10,000 to help pay for technology upgrades — is definitely a newsworthy way of waging the war on cash. So, although the big interest in the program was not entirely surprising to Visa’s global head of product, Jack Forestell, the depth of that sector’s interest in
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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
PYMNTS
AUGUST 4, 2017
Payworks, a provider of point-of-sale (POS) payment infrastructure, announced news on Thursday (Aug. 3) that its payment gateway technology will be supporting the integration of Alipay, the mobile payment provider operated by Ant Financial Services Group, for mobile payment providers and Chinese consumers across the EU. In a press release, Payworks said to increase the speed of market penetration in Europe, Alipay partnered with Payworks for technology support.
Corporate Finance Brief brings together the best content for corporate finance professionals from the widest variety of industry thought leaders.
PYMNTS
AUGUST 3, 2017
Turns out Everlast, perhaps the marquee name in boxing equipment, was punching above its weight … at least when it came to the fight against online fraud. Picture an 107-year-old retail juggernaut, iconic in name but perhaps a bit dated in business processes, battling against online scammers, chargebacks and general inefficiencies. Fraud management seemed to be a defensive gap at the company, with third-party tools and Google searches as amateur counterpunches against losing business.
PYMNTS
AUGUST 4, 2017
Procure-to-pay company Zycus is stepping into the middle market. The company announced Thursday it is launching a source-to-pay program for mid-market companies and small, high-growth firms looking to improve their procurement functions. The program is called Zycus Genesys. The launch of Zycus Genesys signals the company’s expansion into the mid-market as it looks to automate procurement operations for its business customers.
PYMNTS
AUGUST 4, 2017
For eCommerce businesses, income and expenses are closely linked. After all, you have to spend money to make money, and for sellers, the costs of logistics and shipping are a necessary expense in order to make a profit when sending their goods out. But for many of these businesses, which are often SMBs or operate as seasonal companies, working capital is tight and uneven, says Pitney Bowes VP Global Financial Services Chris Johnson.
PYMNTS
AUGUST 2, 2017
Between automated checkout lines, online grocery ordering and meal kit services, it seems like the inexorable tide of progress is determined to wipe out millions of jobs across the retail and grocery sectors. And those are just the new technologies getting the most press. Financial services firm Cornerstone Capital Group projected that robots will capture between 6 million and 7.5 million jobs over the next 10 years, slashing the 16 million-strong retail workforce by 38 percent.
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PYMNTS
AUGUST 3, 2017
Fraudsters are good at what they do. Payments got faster, but so did criminals. Banks built more defenses, and bad guys jumped over them with glee. But Uri Rivner, BioCatch co-founder, head of cyber strategy and vice president of business development, said in a recent webinar with PYMNTS’ Karen Webster that things are getting better — and the U.S. has a chance to learn from the U.K.’s mistakes.
PYMNTS
AUGUST 1, 2017
To say direct-to-consumer retail practices have had an impact on the manufacturing industry would be an understatement. With eCommerce a major proponent of the direct-to-consumer (DTC) channel and showing no signs of slowing down, the retail industry landscape has been forever changed. Outside of brick-and-mortar stores being on the receiving end of some crucial direct-to-consumer blows, one area that’s seen a major transformation is behind the scenes with the retail manufacturing industry.
PYMNTS
AUGUST 1, 2017
Small businesses may be interested in innovative technologies, but only a few are willing to make the leap — and the investment — necessary to actually implement tools into their businesses. The latest research from the SMB Technology Adoption Index , for example, revealed news that just 13 percent of U.S. SMBs are willing to embrace innovative technologies beyond moderate use of new solutions.
PYMNTS
AUGUST 3, 2017
The faster payments get, the less tolerable waiting becomes for customers, businesses and other financial players. But in late July, one of the biggest waits in the payments industry came to an end. The August Faster Payments Tracker™ , powered by NACHA , highlights notable news and developments from across the faster payments landscape, including coverage of the long-awaited release of the Federal Reserve’s Faster Payments Task Force report on how to improve the U.S. faster payments system, ef
Speaker: Victor C. Barnes, CPA, MBA
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.
PYMNTS
AUGUST 4, 2017
Are community banks missing the chance to climb aboard the faster payments train? In late July, the Federal Reserve Faster Payments Task Force released its much-anticipated report on how to strengthen and operate the U.S. faster payments system. The report included several recommendations for banks, FinTechs and other financial services players — guidelines to establish an industry-driven framework for governing the system and encourage further research and investment in emerging financial techn
PYMNTS
AUGUST 4, 2017
In wearable technology news, Beijing-based electronics company Xiaomi is now the top wearable. The Chinese tech giant finished off the second quarter of 2017 with the highest market share of any individual wearables brand. According to Digital Trends , Xiaomi reportedly shipped 3.7 million wearables in the second quarter, beating out both Fitbit at 3.4 million and Apple at 2.8 million.
PYMNTS
AUGUST 3, 2017
New data from insolvency firm Begbies Traynor may set off alarm bells: The number of U.K. businesses considered to be in “significant” financial distress has spiked. A report released from the company this week found a 25 percent year-over-year increase in the number of companies categorized as being in significant financial distress in Q2, the largest yearly increase the firm has seen in three years, it said.
PYMNTS
AUGUST 3, 2017
Retail is undergoing a transitional time and merchants are starting to implement more innovative ways of attracting consumers. One of the latest companies looking to take a new approach to reaching consumers in a more convenient fashion is Japan-based clothing retailer Uniqlo with the launch of its vending machines. What makes this offering unique is that these vending machines will dispense clothing items for those on-the-go consumers looking for las- minute items to help with unexpected weathe
Speaker: Kim Beynon, CPA, CGMA, PMP
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.
PYMNTS
JULY 31, 2017
No one likes to sit on the tarmac. No one likes to chase their luggage across time zones due to logistics snafus. No one likes to be bumped from a flight. But just about everyone likes an apology when those things happen. And money, too. As many as 234 million people will take to the skies worldwide this summer alone, according to stats from industry trade group Airlines for America.
PYMNTS
AUGUST 1, 2017
Chatbots are everywhere these days and are hot topics of conversation among retailers. Learning how to best leverage this relatively new interactive revenue option with smart technology and artificial intelligence (AI) that provides instant consumer feedback, automates routine processes and enhances overall retail operations makes chatbots alluring.
PYMNTS
AUGUST 4, 2017
Timberland, the shoemaker, has rolled out a concept store that will be completely overhauled and stocked with new products every six weeks to help enhance its customer service and the retail experience. According to a report announcing the news, the new brick-and-mortar format will be located in a mall in Pennsylvania and will be called Timberland Tree Lab.
PYMNTS
JULY 31, 2017
Is the credit union market ready for its close-up? It’s a market that is showing clear signs of growth. In fact, the federally backed National Credit Union Administration (NCUA) reported credit union membership grew by 4.3 million in Q2 of this year alone, with the value of loans held by credit unions now almost at $885 billion. To keep tabs on the latest developments in the credit union landscape, enter the PYMNTS Credit Union Tracker™, powered by CO-OP Financial Services.
Speaker: Mark Gilham, FCCA, CPP
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.
PYMNTS
AUGUST 1, 2017
QR codes are making waves in the digital payments arena. What was once just a way to encode information made available upon scanning with a connected device is making strides outside of its traditional space. EMV managing leg EMVCo has shared news of its two new QR code payment offerings, but Mastercard’s Masterpass QR is gaining traction in areas around the world.
PYMNTS
JULY 31, 2017
If a marketplace can work for aggregating goods from disparate providers, why not for services, too? After all, service industries make up more than three-quarters of the United States’ total GDP — and four out of five jobs. Why should merchants be the only ones who get to leverage the speed, convenience and low-friction environment of the online marketplace?
PYMNTS
JULY 31, 2017
A new report from FIS finds small businesses continue to feel fed-up with their big banks, despite a rebound in large bank loan approval rates for SME borrowers. The research, published last week, found that there are more aspects to small business banking than borrowing money that are frustrating SME customers. According to the FinTech’s latest “ Performance Against Customer Expectations (PACE) Report ,” SMEs are unhappy with a lack of options for high-tech products and services, and as more sm
PYMNTS
AUGUST 4, 2017
Cyberattacks, ransomware attacks and more have taken businesses and people’s personal information and turned it upside-down over the past few decades. While a great source for information sharing, the online world has also opened millions to the possibility of one day having private information or their identities stolen. What was once safely tucked away in the filing cabinets of doctor’s offices, bank vaults and personal diaries is now open for potential dispersal to the world.
Advertiser: GEP
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