PYMNTS
FEBRUARY 22, 2019
In a settlement that has been given preliminary approval by a federal court in New York, Visa and Mastercard, along with bank defendants, have agreed to provide roughly $6.24 billion in settlement funds. The funds are subject to a deduction that is said not to exceed $700 million, according to a notice authorized by the U.S. District Court for the Eastern District of New York.
CFA Institute
FEBRUARY 19, 2019
What are two of the most important things an investor needs to do to succeed? Howard Marks, CFA, offered his perspective.
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PYMNTS
FEBRUARY 20, 2019
There are markets and there are $100 trillion markets. And might digital payments be in that $100 trillion classification? In an interview with CNBC, PayPal CEO Dan Schulman estimated the market will come into that size, noting, “That’s sort of the market — total adjustable market — we’re playing into.” He said that his firm may have as much as 1 percent to 2 percent of the market currently.
PYMNTS
FEBRUARY 20, 2019
Adyen, the payments platform, announced Wednesday (Feb. 20) it has launched a new payment service that is powered by open banking. In a press release, the company said it launched an alternative to card payments that takes advantage of the European Union’s Payment Service Directive (PSD2) requirement for banks to create APIs for third parties to initiate payments on behalf of consumers.
Speaker: Joe Wroblewski, Sales Engineer Manager
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
PYMNTS
FEBRUARY 19, 2019
NACHA, the steward of the ACH Network, announced Tuesday (Feb. 19) that last year was a milestone year for the ACH Network with payment volume climbing to close to 1.5 billion payments. In a press release , NACHA said it is the fourth year in a row that the ACH Network added more than 1 billion new payments. “The results for 2018 make clear that the ACH Network is vibrant and continues to be a vital component of the nation’s economic engine,” NACHA Chief Operating Officer Jane Larimer said in th
Corporate Finance Brief brings together the best content for corporate finance professionals from the widest variety of industry thought leaders.
PYMNTS
FEBRUARY 19, 2019
To streamline FinTech, and to help consumers and businesses transact in the ways they desire, firms must move beyond the silo approach. FinTech still exists as a fragmented market, where businesses striving to offer payment services to end users pick and choose among providers, integrate with those providers, and must often navigate across complex technological and regulatory hurdles as they expand into new markets.
PYMNTS
FEBRUARY 20, 2019
Small business (SMB) adoption of technology can be a process filled with growing pains and friction points, thanks to the cost and disruption associated with integrating a new technology. Those challenges have made SMBs notoriously technology-adverse, though it may be an unfair characterization, particularly considering the influx of small business FinTech innovation in recent years.
PYMNTS
FEBRUARY 21, 2019
This week, the EU Parliament voted for new rules mandating that banks cut fees on cross-border euro payments for countries within and outside the Eurozone. As reported by parliament, the body voted by 532 in favor and 22 against (with 55 abstentions) to set the new cross-border rules in place by the end of the year. The rules state that each transaction should disclose the amounts that are being paid in local currencies, as well as the currencies of the destination accounts.
PYMNTS
FEBRUARY 19, 2019
With faster payments functionality beginning to take off in the U.S., the outlook of how accelerated transaction times might impact B2B payments and, more specifically, the issue of late payments to suppliers, remains unclear. When NACHA first released its Same Day ACH capability, only about 6 percent of the first 2 million transactions made in the service’s first 11 days were B2B payments.
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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
FEBRUARY 21, 2019
Every industry has its nomenclature. And sometimes, terms get thrown about interchangeably — when, really, they refer to very different things. Such is the case in financial services, where “ FinTech ” is often used to describe financial technology vendors. “A firm that offers financial technology is not necessarily a FinTech,” said Provenir Managing Director Paul Thomas, who thinks the distinction between the two needs to be clearer.
PYMNTS
FEBRUARY 21, 2019
Financial technology firm Green Dot , which made its name on its prepaid debit card solutions, is ramping up its focus on Banking-as-a-Service (BaaS) after posting $14.3 million in net income for the fourth quarter of 2018. Green Dot revealed a 17 percent year-over-year revenue increase for Q4, according to the firm’s earnings data released on Wednesday (Feb. 20).
PYMNTS
FEBRUARY 19, 2019
Brexit may dominate the headlines when it comes to the United Kingdom, but FinTech funding proceeds apace, and financial backers show a continued sanguine attitude about the space. In news that came from across the Pond, two U.K.-based FinTechs said they have garnered more than 200 million pounds. As reported, iwoca , a small business lender focused on online lending (with loans up to 250,000 pounds) said it raised 150 million pounds in debt and equity financing (where the division was 20 millio
PYMNTS
FEBRUARY 18, 2019
Yet another challenger bank is slated to launch in the U.K. Diaspora , based in London, has trade finance at the center of its operations as it looks to address the friction of collaboration between buyers, sellers and financiers across borders. Reports in FinTech Futures on Friday (Feb. 15) said that it will target small- and medium-sized businesses with an array of trade finance products, including factoring.
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PYMNTS
FEBRUARY 18, 2019
The world of ridesharing — one that has expanded into such areas as food delivery and last-mile transportation needs via scooters — is about to get really interesting. Not only that, but more clarity will soon emerge about the real and perceived health of the overall industry, clarity that could lead to more development and changes, and probably more pressure on the low-performing parts of the ecosystem to shape up or face their demise.
PYMNTS
FEBRUARY 18, 2019
Governments around the world have a new front in their fight against money laundering: real estate. According to a report in Mansion Global , a growing list of money laundering suspects from China to Venezuela are facing allegations that they are using money acquired illegally to purchase real estate properties in some of the world’s most expensive markets, spending more than $10 million a pop to acquire these homes in upscale, tony neighborhoods across the globe.
PYMNTS
FEBRUARY 18, 2019
Facebook wants to create its own chips to deliver the type of computing speeds necessary to take the next leap forward in artificial intelligence, according to a report in the Financial Times. The company also wants to make a digital assistant – similar to Apple’s Siri or Amazon’s Alexa – that can have conversations with users and that has “common sense.”.
PYMNTS
FEBRUARY 21, 2019
By 2020, there will be an estimated 26 billion Intelligence of Things (IoT)-connected devices active around the world. As the IoT market grows, however, developers and consumers alike are growing more vigilant to protect any potential weaknesses of devices that rely on constant connectivity. While consumers are connecting with more IoT devices than ever, from the wearable IoT fitness band to the connected smart oven to the voice-activated smart speaker, this oversaturation is also creating more
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
FEBRUARY 16, 2019
Bitwage, a FinTech that enables professionals to be paid in bitcoin and other currency from their employers, is rolling out a new service for freelancers to more seamlessly be paid, regardless of which freelance platform they use. Reports in Bitcoin Magazine last week said Bitwage is rolling out its new solution in beta, allowing freelancers to generate individual bank accounts that they can then link to their freelance marketplace platforms.
PYMNTS
FEBRUARY 19, 2019
Since last year, when Canada legalized recreational pot in full, the nation became a kind of country-sized lab for how that new business would play out. That market could reach as much as $5.1 billion in annual sales by 2020, according to one estimate – though some predictions are higher, especially ones that include spending on accessories and growing supplies.
PYMNTS
FEBRUARY 21, 2019
Ever since Amazon turned its gaze to healthcare, questions about the eCommerce operator’s plans and intentions have outnumbered answers. That’s still true, and may remain so for the time being, but this week new details emerged that, at the least, is shedding light on Amazon’s healthcare vision. Okay, enough teasing. Here’s the scoop, courtesy of court testimony: Amazon wants to, in the words of The Wall Street Journal , “redesign health insurance.
PYMNTS
FEBRUARY 20, 2019
In an interview with Harvard Law professor Jonathan Zittrain, Facebook CEO Mark Zuckerberg said that he’s “potentially interested” in using blockchain technology for Facebook logins, and that the tech could help the process of allowing access to data by third-party apps, according to a report from The Verge. Facebook has recently been shoring up its blockchain team , led by David Marcus, who used to be the VP of Messenger.
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
FEBRUARY 20, 2019
Things warmed up a bit for Walmart over the winter. The retail landscape had been littered with any number of disappointing earnings reports, any number of worries over the impact of a cross-border trade war between China and the U.S. , and the impact of glacial-but-headed-our-way interest rate boosts. And yet. Walmart on Tuesday (Feb. 19) managed to buck its brethren and post one of the best holiday quarters (which ended in January) in roughly 10 years.
PYMNTS
FEBRUARY 18, 2019
Cryptocurrency has come a long way since bitcoin’s emergence as an unregulated, anonymous payment technology. Perhaps the most poignant moment in this evolution came about last week when JPMorgan Chase announced the development of the JPM Coin, the first bank-backed cryptocurrency in the U.S., which the institution plans to deploy in its corporate payments operation.
PYMNTS
FEBRUARY 19, 2019
In the digital age, quick service restaurants (QSRs) have a host of technologies at their disposal to remove friction in the ordering process and drive repeat visits, such as self-service kiosks and mobile apps. Consumers have generally had strong positive experiences with digital technology. The PYMNTS Restaurant Readiness Index found that 62 percent of them said such features would make them more likely to visit QSRs in the future.
PYMNTS
FEBRUARY 20, 2019
With cybercriminals not making as much from ransomware and cryptojacking, they have been focusing more on a strategy called “formjacking” to raise cash. That’s according to Symantec’s Internet Security Threat Report , which it issued on Wednesday (Feb. 20). The cybersecurity company analyzes data from its Global Intelligence Network, which records events from 123 million attack sensors worldwide, and blocks 142 million threats daily and monitors threat activities in more than 157 cou
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.
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