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With so many consortia and internal development teams in play, it’s difficult to assess global banks’ progress on blockchain. But analysts assure progress is being made. Last year, IBM released surveys of 400 financial institutions across the globe to examine exactly how they’re positioned in their journey to develop and release real-world, working blockchain tools.
In this article, we discuss how to craft the new CFO 90 day plan with a CFO development plan, CFO advice, CFO required skills all focused on how to be a successful CFO. Initial changes for new CFOs include learning a new organization, working with a new boss, managing a new team, and implementing change in an existing culture. If you are a new CFO looking for advice on a successful first 90 days, read on.
The problem with EMV for most consumers and merchants comes down to speed, Visa and Index have learned. The change in hand motion didn’t really throw most customers off that much. Moving from a swipe to dip didn’t turn out to be so very fundamentally different from each other – and consumers learned to deal. Waiting, on the other hand – that quickly turned into a problem for both sides of the transaction.
Credit card fraud is a fact that will likely continue to plague retailers for the foreseeable future. It’s on the rise in the eCommerce arena, according to data released from omnichannel commerce technology and operations company Radial’s eCommerce Fraud Technology Lab. In Q1 of this year, there was a 200 percent increase in credit card testing, up from 2016.
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
On Monday, and for the first time ever, bitcoin was worth over $1,400. While the day’s high was $1,422.22 according to CoinDesk , trading at the time of writing was closer $1,413, up 4.88 percent for the day, up 42 percent from the start of 2017 and up a whopping 215 percent from this time last year. If there’s any probable cause for the rise, it’s likely that the SEC recently announced plans to review l ast month’s rejection of the proposed Winklevoss Bitcoin ETF.
It’s been more than a year since Bangladesh’s central bank was attacked by cybercriminals that took away $81 million by infiltrating the bank’s connection to the SWIFT network. Since then, there have been revelations about similar attacks at FIs across the globe, and the blame game began, with some fingers pointing to the bank’s own employees , North Korea and SWIFT itself.
It’s been more than a year since Bangladesh’s central bank was attacked by cybercriminals that took away $81 million by infiltrating the bank’s connection to the SWIFT network. Since then, there have been revelations about similar attacks at FIs across the globe, and the blame game began, with some fingers pointing to the bank’s own employees , North Korea and SWIFT itself.
Visa , the credit card issuer, announced Thursday (May 4) that it will help its financial institution partners create customized digital card management services for their customers. In a press release, Visa said as the Internet of Things (IoT) grows, consumers put their cards on file and implement recurring payments in more places. To help give consumers more visibility and control, Visa is creating capabilities that will complement several existing Visa functionalities.
Apple and its Apple Watch may have a problem on its hands as companies that made apps dedicated exclusively for the Apple Watch are giving up on the platform. According to a report , the companies have been quietly removing support for the watch in updates that they provide to the App Store. The report noted that over the past few weeks, Google Maps’ latest update to its iOS app removed support for the Apple Watch.
Don’t let the seemingly low value of $42 million raised this week by B2B venture capital firms fool you: VC activity in the space was strong, hitting key verticals like cross-border payments and SaaS. Investors went global, too, reaching out to Australian, Chinese, U.S. and Indian firms — with future plans for more funding. Find out who’s planning ahead in our breakdown of B2B venture capital from the week below.
The United Kingdom’s Payments Systems Regulator (PSR), along with the Bank of England, said Thursday that they’d agreed to a framework that would govern consolidation of the Cheque and Credit Clearing Company and the Faster Payments Scheme and Bacs. Reuters stated that the U.K.’s “multi-trillion pound system for shuffling payments” and checks will get a makeover, with an eye on letting new entrants into the market.
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
A business run by self-proclaimed nuns is making a living by selling “healing” pot online. Christine Meeusen, who goes by the name Sister Kate, is the founder of a medical cannabis company, which she operates out of her home in California’s Central Valley, according to Business Insider. Sister Kate’s goal is to erase the negative stigma around cannabis, as well as create jobs for women who believe in its healing powers.
Carvana Co., a leading eCommerce platform for buying used cars, saw its shares fall 16 percent on the first day of its initial public offering (IPO). According to Barron’s , the stock was down $2.33, or almost 16 percent, at $12.67, below its IPO price of $15. Founded in 2012, the Phoenix-based company sells cars through its website and operates automated towers that store cars in U.S. cities, such as Austin and Dallas in Texas and Nashville, Tennessee.
A new online marketplace, iVANZi.com, operated by Retail Linx, is already expanding into new territory. The company announced Tuesday (May 2) that it will launch a wholesale marketplace for B2B buyers and suppliers with multiple payment options designed for the wholesale space. IVANZi verifies both buyers and suppliers on the platform and enables suppliers to upload their inventory for pre-approved wholesale buyers.
Salesforce is getting serious about helping startups that can help it — and is putting $100 million worth of money where its mouth is. Salesforce Ventures — the investment arm of the business — has launched a Salesforce Platform Fund to support early-stage companies. The goal of the new investment is “building an ecosystem of partners around us,” according to John Somorjai, executive vice president of corporate development and Salesforce Ventures.
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.
Over the past few months, we’ve seen several chatbot developments. Of particular note, many companies have partnered up with Facebook’s Messenger app to help streamline customer service and introduce new commerce offerings. The issue that arises is how chatbot integration into consumers’ everyday lives will impact the future of how businesses operate.
Ever since Facebook made its big bot announcement in 2016, conversational AI (or chatbots) are all of a sudden everywhere — along with their promise to enable a smoother and more conversational way for a consumer to interact with a business. Emphasis on the word “promise.”. But as most consumers who’ve had a bot experience in the last year can attest, the real-world experience doesn’t always, or even often, live up to that promise.
With collective income slated to hit $680 billion this year, gig economy workers are a rising economic force — and one that is changing face. Traditionally, gig workers have been viewed as unskilled professionals that fall to part-time work because they can’t get full-time jobs. But Michael Ting, SVP, Digital Markets at Hyperwallet , explored with PYMNTS’ Karen Webster the evolving identity of the on-demand workforce, and how technology contributes to that change.
Wells Fargo Chief Executive Tim Sloan denied the company had specifically targeted undocumented workers during the years workers were creating fake customer accounts , but according to a former Wells Fargo employee, Yesenia Guitron, that is exactly what Wells Fargo did. According to a report in American Banker , Guitron, who worked for Wells Fargo in St.
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.
It doesn’t matter where or who you are. Phishing attacks can happen to even the most vigilant among us. This point was driven home recently after it came to light that Facebook and Google found themselves out $100 million at the hands of one ambitious cybercrook. At the end of March , the U.S. Department of Justice (DoJ) announced plans to charge a man allegedly responsible for an $100 million business email compromise scam.
Payments are an essential element in any business, regardless of size, industry or vertical. Likewise, providing payment capabilities is essential for the software-as-a-service (SaaS) providers, platform businesses and ISVs that enable core business functions. Historically, businesses had two options: Go the payments route alone or outsource the functionality to a third-party payment company.
Now that the ink has dried on the paper, Mastercard’s acquisition of Vocalink is now official, as announced today on Mastercard’s Q1 earnings release. In the digital world, with consumers increasingly turning online to make every day purchases or using mobile apps to do the same in physical stores, speed, efficiency and customer choice is essential.
For small businesses, expansion is key, and expansion needs capital. For small business lenders and for FinTech too, expansion is key; but for Biz2Credit, expansion is literal. In a partnership formed recently with Puerto Rico’s Oriental Bank, Biz2Credit said late last month that it has begun offering its digital lending platform to the bank’s commercial clients.
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.
Sometimes it pays to be volatile — but there’s always the nagging risk of losing it all. Bitcoin’s value keeps breaking through ceilings again and again. What looks like a record high one day is left in the dust the next. It seems blowing past $1,400 at the start of this week wasn’t enough for the digital currency. Wednesday night into Thursday morning, trading saw bitcoin fly by another milestone: $1,500.
Gig, a car sharing app created by AAA, the emergency roadside assistance service, is live in California’s Bay Area as of Monday (May 1). According to a report in TechCrunch , Gig comes out of A3 Ventures, AAA’s venture capital unit with the car sharing service which takes users one way and is now open in Oakland and Berkley. Gig takes a page from Enterprise’s CarShare or Zipcar , but what makes Gig different is that users don’t have to return the car to a specific location.
Deutsche Post DHL, the German logistics company, is being tapped by Amazon to deliver groceries in Germany for AmazonFresh. According to a report in Reuters , citing comments Deutsche Post Chief Executive Frank Appel made at the company’s general meeting, Deutsche Post is aiming to be the service provider for online grocery sales. The deal, noted Reuters, is expected to alleviate concerns that Amazon’s own delivery services are a growing threat to Deutsche Post.
The service supply chain, also referred to as the post-sale or after-sale supply chain, is rife with potential to be enabled by digital transformation. A quick primer on the space. Working in the service supply chain means planning and managing a range of activities after the sale of goods or services — from asset management, support functions and repairs to the delivery of end-user services.
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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