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“There is nothing new under the sun.”. Human beings have been saying the above, or some variation on it, for approximately three thousand years since it was first written down in the Book of Ecclesiastes in 935 BCE. It is safe to say that the majority of times it has been uttered, the person doing so was underselling the future a bit. We imagine if presented with an iPhone, penicillin, an automobile or just a ballpoint pen, even the original scribe would have been forced to concede that exciting
The Regional Risks for Doing Business report offers a business perspective on the impact of global risks and illustrates how they are experienced differently in each region. . Download The post Regional risks for doing business 2019 appeared first on FutureCFO.
To get a sense of where faster payments are headed, look to the consumer. There are dozens of faster payment schemes rooted or taking shape around the world — 54 at last count. Some of them have been mandated by governments, readying for anticipated demand. That’s a staggering leap from the 14 live faster payment schemes that existed worldwide in 2014, when FIS first released Flavors of Fast.
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
With the recent launch of the Apple Card , Apple has sent a signal that they seek to offer a better user experience than banks. In fact, their slogan for the card is “Created by Apple, Not a Bank?.” The fact that Apple is entering the space should serve as a wake-up call to banks, according to Rachna Ahlawat , co-founder and executive vice president of Ondot Systems.
Vista Equity Partners is reportedly thinking about selling a stake in London-based FinTech Finastra. Bloomberg is reporting that the sale could value Finastra at $10 billion with debt included. Vista is collaborating with Goldman Sachs to look for companies that might be interested in buying. Vista could be looking to sell as much as 50 percent of the company.
Vista Equity Partners is reportedly thinking about selling a stake in London-based FinTech Finastra. Bloomberg is reporting that the sale could value Finastra at $10 billion with debt included. Vista is collaborating with Goldman Sachs to look for companies that might be interested in buying. Vista could be looking to sell as much as 50 percent of the company.
Many FIs and merchants that have fallen victim to fraud traditionally respond by assessing the damage, pinpointing how the attack succeeded and implementing new measures to prevent similar schemes from happening again. Some businesses are looking for solutions that will help them stop fraud from happening in the first place as criminals become increasingly creative and aggressive in their efforts to steal data and funds.
Application program interfaces (APIs) are helping to speed Open Banking — and, by extension, bringing trade finance into the digital age. To that end, HSBC said last week that it is deploying an API designed to promote bank collaboration, with a focus on trade finance. The API, according to reports , will allow HSBC partner banks to issue local guarantees across markets — and where those banks do not have an operating presence.
Money transfer company MoneyGram announced that it is expanding its loyalty program to customers in France, Italy, Germany and Spain. “We have seen a positive response and strong adoption rates from our loyalty program in the U.S., resulting in increased customer transaction frequency and retention rates,” Alex Holmes, MoneyGram chairman and CEO, said in a press release.
Consumers are creatures of habit — but those habits can be complex, and can certainly vary according to such factors as geography, age and even fitness level. Businesses that can tap into those habits can often tap into a gold mine. However, it can be much harder than it seems, even for the smartest and most data-driven of entrepreneurs. That’s the sense one gets after listening to Fritz Lanman, CEO at ClassPass.
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
With “URGENT/11” possibly introducing risks for medical devices and hospital networks if exploited by a remote attacker, the U.S. Food and Drug Administration is informing patients, manufacturers and IT staff in health care facilities about the cybersecurity vulnerabilities. URGENT/11 impacts multiple operating systems that then may affect medical devices connected to a communications network in addition to other connected equipment, the agency said in a press release.
Uber coughed up over $3 billion to get its hands on Dubai’s ride-hailing startup Careem, the Financial Times reported on Wednesday (Oct. 2). Founded in 2012, the ride-hailing unicorn – which is valued at over $1 billion – was the premier tech startup in the Middle East and North Africa. Uber paid $3.1 billion to take ownership. The deal is expected to close in January of 2020.
American Express has announced a new incentive for small businesses to sign up for its Amazon Business Prime American Express Card. Reports in NerdWallet on Friday (Sept. 27) said that in addition to the $125 Amazon gift card provided to small businesses that are Prime members and are approved for the small business credit card, American Express is also offering rewards linked to spend regardless of whether or not that small business makes purchases on Amazon.
And then there were 27. News came Friday (Oct. 4) that PayPal has withdrawn from Facebook’s Libra Association. As has been reported, the Libra Association was, until Friday, comprised of the 28 companies had been backing the development and ultimate deployment of the cryptocurrency known as Libra. The mechanics of the consortium are that the companies tied to that association (a roster that includes Facebook) would invest at least $10 million to help cover operating costs of coming to market wit
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.
We all know the drill. After receiving treatment at a hospital (whether an in-and-out affair, such as an MRI, or a multi-day stay in a room), the insurance notices and bills start arriving. The first one, two or three are usually ignored, perhaps put on a pile for later consideration or filing. After all, those early figures are often not what a specific patient will end up paying out of pocket.
There are many ways a firm can measure the value of instant payments, and determine how much of a return on investment (ROI) it can expect to reap. A firm can look at it in terms of how much it will save by stepping away from the costly and inefficient world of paper checks, or it can evaluate in terms of the auxiliary services and features it will be able to offer to its customers, and potentially monetize in the future.
AI and ML are some of today’s most hotly discussed technologies, sparking both optimism about a future less reliant on human labor as well as fears of job loss. QSRs have ample opportunities for such technologies. Hungry customers can use sophisticated AI tools to place orders by talking to voice assistants as if they were human cashiers, for example.
Mastercard has launched Threat Scan, a global solution to help banks spot authorization weaknesses before a breach occurs, the company announced in a press release on Tuesday, Oct. 1. The new service is being featured at the Mastercard Cybersecurity Summit in Croatia from Sept. 30-Oct. 3. As weaknesses in authorization systems can be exploited by online thieves, financial services firms are more vulnerable to hackers and get hit 300 times more often than other businesses, according to the Boston
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.
Trucking is a difficult and vital job. It’s not only the long, often-lonely hours, but the anxiety — as well as the lost time and money — that comes from inefficient dispatching and last-minute (perhaps unwanted) loads, among other points. Stress can run high for both drivers and trucking companies, especially those still stuck in the analog era, or those with digital capabilities that haven’t advanced in a decade or more.
These are indeed the days for mergers and acquisitions (M&A) in the world of payments, and that trend looks likely to hold into the 2020s. That raises several questions for financial institutions (FIs), FinTech firms and payment service providers as they figure out how to best navigate this changing world. It can be confusing to figure out what to do.
Amazon has opened its first physical store in Massachusetts. Located at the Natick Mall in Natick, Massachusetts, the 4-star store is the fifth physical location nationwide for the eCommerce giant. The first location opened in New York City last September, followed by Lone Tree, Colorado, Berkeley, California, and Seattle, Washington. “We created Amazon 4-star to be a place where customers can discover products they will love.
Fifty-four faster payment schemes — and counting. Real-time payments are on the radar for most banks, and the opportunity is there to grow top lines and cement customer relationships. To that end, said Craig Ramsey, head of real-time payments at ACI Worldwide , in an interview with PYMNTS, the approach a financial institution (FI) takes toward faster payments at the beginning, and at the highest strategic level, matters — quite a bit.
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.
Facebook’s proposed cryptocurrency Libra has had its fair share of scrutiny and regulatory issues, and now the Financial Times is reporting that PayPal is very close to leaving the 28-company coalition meant to help Libra gain legitimacy and come to fruition. Representatives from all 28 Libra backers were set to meet in Washington on Thursday (Oct. 3) to discuss how to handle the backlash and move forward; all were present except for PayPal.
PayPal Holdings announced that it can do business in China after buying a controlling stake in a domestic payments firm. The deal would make PayPal the first foreign firm to enter China’s payment services market. “The People’s Bank of China has approved PayPal Information Technologies Co., Ltd.’s acquisition of a 70 percent equity interest in Guofubao Information Technology Co.
PayPal has bought a majority stake in Chinese payments group Guofubao (NationPay), and has acquired a payments license in the country, according to a report by the Financial Times. . PayPal bought a 70 percent stake in the company for an undisclosed amount, and the country’s central bank approved the deal. This means that PayPal is the first outside country to become a part of the payments market in the country in the two years since Beijing said outside countries would be eligible.
EMV seems to be that payments issue that just won’t go away, but not in the U.S., where at least one vital and robust sector of commerce has yet to adopt the global security standard en masse. We are talking about gas stations and convenience stores, with their EMV liability shift pushed back to Oct. 1, 2020 — at one point, the deadline was in 2017.
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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