PYMNTS
DECEMBER 26, 2019
The Central Bank of the Bahamas is planning to start a rollout of its new digital currency on Friday (Dec. 27) in Exuma. Called Project Sand Dollar, the name of the currency will also be the sand dollar, according to a press release. The move is long-awaited and comes after years of work through the Bahamian Payments System Modernization Initiative (PSMI), which began in the early 2000s.
CFA Institute
DECEMBER 27, 2019
What does the AUM-weighted sector distribution of gender lens equity funds look like?
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Future CFO
DECEMBER 23, 2019
Security, analytics and customer service tare op CFO concerns as leaders focus as much on strategy as operations, said Protiviti that recently unveiled results of its 2019 Finance Trends Survey. Today CFOs and finance executives are focused as much on strategic matters as operational issues. This is according to the recent 2019 Finance Trends Survey conducted by global consulting firm, Protiviti, which revealed that, when asked to rank focus areas, finance leaders picked data security and privac
PYMNTS
DECEMBER 23, 2019
Policy advisers at a leading think tank said that China should introduce a regulatory framework for artificial intelligence in the finance sector, according to a report from Reuters on Sunday (Dec 22). The same framework should be in place to improve technology used by regulators in efforts to strengthen supervision throughout the industry, the think tank also says.
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
DECEMBER 24, 2019
Exceeding forecasts , Dec. 21, the last Saturday shopping day before Christmas 2019, has been confirmed as the single biggest retail sales day in U.S. History. According to retail research firm Customer Growth Partners, consumers on Super Saturday spent a total of $34.4 billion and that exceeded 2019 Black Friday sales by 10 percent. “Paced by the ‘Big Four’ mega-retailers — Walmart, Amazon, Costco and Target — Super Saturday was boosted by the best traffic our team has seen in years,” Craig Jo
Corporate Finance Brief brings together the best content for corporate finance professionals from the widest variety of industry thought leaders.
PYMNTS
DECEMBER 27, 2019
Daniel Pinto, the co-president and chief operating officer of JPMorgan Chase , told CNBC in an interview that 2020 will likely see sturdy economic growth of about 1.5 percent or 1.8 percent in the United States. That, he said, signaled an economy that is strong on consumer spending. He said things were not so solid in the realm of corporate spending as U.S. and China relations deteriorated this year amid a trade war and tariffs.
PYMNTS
DECEMBER 27, 2019
Italy, which has one of the lowest rates of credit card use in Europe, may start to see that change soon as the government will give bonuses to those who use electronic payment services over cash. The government put aside $3 billion to finance the bonuses for the next fiscal year, according to The Financial Times. By offering the incentive, they hope to cut down on black market deals and fraud, they say.
PYMNTS
DECEMBER 23, 2019
The Federal Bureau of Investigation is working firsthand with companies to outsmart cybercriminals by deploying decoy data, Ars Technica reported on Friday (Dec. 20). The FBI program IDLE (Illicit Data Loss Exploitation) has companies plant decoy data as a way to confuse thieves looking to hack valuable information. The fake data is mixed with real information to make it appear authentic.
PYMNTS
DECEMBER 27, 2019
Sales taxes empower governments to maintain critical public services, but they can also make medical essentials too expensive for those who need them. Campaigns against taxing obligatory items are spreading across the United States, forcing states to rethink their revenue generation decisions. Many governments historically lower or remove taxes on items they wish to make easier to purchase.
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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
DECEMBER 24, 2019
The People’s Bank of China said that China’s cryptocurrency, the digital yuan, will not need a currency basket to keep its value, according to a Monday (Dec. 23) report by Coindesk. Changchun Mu, head of the PBOC digital currency research subsidiary, shared the news at the China Finance Association Academic Annual Meeting, and China Finance Forum Annual Meeting in Beijing. .
PYMNTS
DECEMBER 23, 2019
Payments company PayPal recently acquired Chinese payment platform GoPay, and it wants to continue to complete such deals, according to a report by The Wall Street Journal. The company wants to pursue acquisitions throughout 2020. “There’s a lot of opportunities to acquire companies inorganically,” Chief Financial Officer John Rainey said. The GoPay deal, which was the acquisition of a 70 percent stake in the company, was completed Dec. 19.
PYMNTS
DECEMBER 26, 2019
Some of the largest U.S. banks, like JPMorgan Chase , Bank of America (BoA) and Citigroup , gained as consumers spent during a robust holiday season, according to a report by Bloomberg. BoA gained 1 percent to its highest point since October 2008, and Cit saw a gain of 1.5 percent, which is the biggest jump since January 2018. Wells Fargo and Truist Financial Corp. also gained.
PYMNTS
DECEMBER 26, 2019
In an historic day, fueled by gains in tech shares, the Nasdaq Composite Index moved past 9,000 for the first time, Bloomberg reported. The new Nasdaq record is attributed to key performers, including Amazon , as the online commerce juggernaut reported their 2019 holiday sales broke previous records. European markets were still closed for Christmas.
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PYMNTS
DECEMBER 27, 2019
Up until recently, business travel and hospitality would take a few general forms. Perhaps a fancy hotel downtown. Or less fancy digs near the airport. Or maybe a relatively bland extended-stay operation right off the interstate. But digital technology and the sharing economy, already the disrupters of so much, are now challenging the status quo when it comes to corporate housing.
PYMNTS
DECEMBER 27, 2019
Ignition of a new technology or idea in payments and commerce is always something of a tricky balancing act because consumers need a really good reason to change their well-entrenched habits. When they get that good reason, it doesn’t always take that long for that switch to make that which was once status quo into history. But, novelty alone, as we’ve seen over and over and over again in the 2010s, won’t move the needle for enough consumers to matter.
PYMNTS
DECEMBER 24, 2019
All that’s left now, more or less, is the rush of returns that will all but overwhelm some retailers. Christmas Eve is upon us, and the last gifts are making their way from basements, attics and bedroom closets to stockings and trees. So, what kinds of products will people be getting this year? To get a better sense of what’s coming (and to have some holiday fun), PYMNTS recently caught up with Akash Garg, CTO of Afterpay — a company that offers flexible payment terms, and essentially serves a d
PYMNTS
DECEMBER 24, 2019
To separate hype from hope, and to separate both from reality…. To quote a line from the Watergate scandal movie, “All the President’s Men:” Follow the money. And for blockchain, a few warning signs have been flashing that all may not be as rosy as some observers may have hoped, had wanted. And so, for a jumping-off point to examine whether the peak has been seen: Follow the money.
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
DECEMBER 26, 2019
There’s an old saying, ascribed variously to the old proverbs, baseball great Yogi Berra and physicist Niels Bohr: Predictions are difficult, especially when they’re about the future. Regardless of the source, the sentiment rings true. The farther one looks out over the horizon, the hazier the picture becomes. That’s especially true in payments, where technology can lead to seismic shifts in the way we pay, where we pay and even when we pay, as commerce becomes ever global and a 24/7 activity.
PYMNTS
DECEMBER 24, 2019
To see whether its internet services could work if it were to be separated from the worldwide internet, Russia conducted a series of tests. The review occurred during multiple days on networks that were specially designated, Reuters reported on Monday (Dec. 23). The review comes after a “sovereign internet” bill in response to what the country refers to as the “aggressive nature” of the national cybersecurity strategy of the United States.
PYMNTS
DECEMBER 24, 2019
In its ongoing attempts to fix its privacy standards, Facebook will no longer use phone numbers to determine who one sees on their “people you may know” list, according to Reuters. The move is an attempt by the company — which has been dogged by privacy scandals for years now — to correct misuses of peoples’ data. When it was revealed last year that Facebook was using peoples’ personal phone numbers for two-factor authentication for advertising, privacy advocates were outraged, sayin
PYMNTS
DECEMBER 23, 2019
A 22-year-old Turkish man from London was convicted of attempting to blackmail Apple out of $75,000 in cryptocurrency or a thousand $100 iTunes gift cards by falsely claiming he had access to iCloud and other Apple accounts, various outlets reported on Monday (Dec. 23). The National Cyber Crime Unit of the U.K.’s National Crime Agency (NCA) arrested Kerem Albayrak at his London home on March 28, 2017.
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
DECEMBER 23, 2019
Mastercard is purchasing artificial intelligence (AI) and analytics startup RiskRecon to accelerate the development of cybersecurity solutions, Mastercard announced on Tuesday (Dec. 23). Cyberattacks have become a critical issue for companies of all sizes and a threat to privacy and data security. Data breaches and ransomware attacks jeopardize customers’ records and trust.
PYMNTS
DECEMBER 22, 2019
Uber was ordered last Friday by a Colombian judge to stop securing business in their country via its popular ride-hailing app, according to a report from Reuters. The country’s Superintendency of Industry and Commerce (SIC) said Uber, with 2.3 active users and roughly 88,000 driver partners in Columbia, violated market rules. The decision follows a lawsuit filed against the company by COTECH SA.
PYMNTS
DECEMBER 27, 2019
Daniel Pinto, the co-president and chief operating officer of JPMorgan Chase , told CNBC in an interview that 2020 will likely see sturdy economic growth of about 1.5 percent or 1.8 percent in the United States. That, he said, signaled an economy that is strong on consumer spending. He said things were not so solid in the realm of corporate spending as U.S. and China relations deteriorated this year amid a trade war and tariffs.
PYMNTS
DECEMBER 26, 2019
China is in the midst of planning to build out its blockchain cross-border pilot platform, according to Lu Lei, the deputy head of the State Administration of Foreign Exchange (SAFE), as Reuters reported. Lei said the regulator will reinforce the fusion of FinTech and the foreign exchange market and will oversee the advancement of new technology. “We will gradually expand the scope of the pilot and the application scenarios of blockchain technology in cross-border financing and macro-prudential
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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