PYMNTS
JULY 5, 2017
The Hive Project, a company that uses cryptocurrency and Ethereum blockchain for trade financing , has launched its platform. The company announced Friday (June 30) that its portal is up and running to link SMEs to trade financing by turning unpaid invoices into tradable assets. Every invoice is assigned a unique fingerprint, the firm said, by tokenizing each bill and linking them onto the blockchain.
PYMNTS
JULY 6, 2017
API technology is opening new doors for the world of financial services, a trend that cultivates cooperation and collaboration between FinTechs and banks, once considered competitors. With the speed of payments accelerating and Same Day ACH initiatives continuing to roll out, NACHA has pulled together a group of industry experts to explore API standardization as a way to facilitate faster payment speeds and greater transaction security, among other use cases.
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PYMNTS
JULY 7, 2017
Banks were once the great riverbed of financial activity. Today, the flow of cash is gradually being diverted through other, third-party channels because of services that are unavailable from banks. It’s not totally the banks’ fault — their hands are often tied by regulations and processes — but the reality remains that, if they don’t adapt, the commercial banking establishment will slowly evaporate.
PYMNTS
JULY 6, 2017
Open Banking, the U.K. bank-funded entity that was mandated by the Competition and Markets Authority to provide new ways for customers to share their financial data with non-bank providers, has released an API specification for accounts and transaction information and payments initiation. In a press release Open Banking said the new spec was released on its website for review and development by banks and third-party service providers.
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
JULY 4, 2017
According to the latest findings of the European Ecommerce Report 2017 , it is a good time to be selling online in Europe — especially since online retail growth has been “exponential” over the last several years. During 2016 alone, eCommerce activity increased by 15 percent to €530 ($602 billion U.S., 30 percent of global eCommerce). The 2017 forecast indicated a projected 14 percent growth to €602 billion ($684 billion, 34 percent of global retail sales).
Corporate Finance Brief brings together the best content for corporate finance professionals from the widest variety of industry thought leaders.
PYMNTS
JULY 5, 2017
Fraud is like gluten. It’s in almost everything, and it often goes completely unnoticed. Most organizations have resigned themselves to the fact that, despite their defenses, fraud is just a part of doing business. But fraud costs an average of 7.5 percent of revenue, and the numbers for e-tailers — who never handle a physical payment card — are much higher.
PYMNTS
JULY 7, 2017
While there are many reasons why small merchants should be able to take digital and online payments — including better conversion rates, wider exposure to a bigger audience and better data about consumers — Dusty Gomez, SMB product leader at Vantiv , says it all comes down to one main idea: The consumer lifestyle is evolving to a point where customers are constantly on the go.
PYMNTS
JULY 7, 2017
One bottle of your finest Amazon reserve label wine, please? This is now a reality for the eCommerce giant as it rolls into the winemaking realm. The Next Wines brand of wines has been specifically developed by private label vineyard King Vintners on behalf of Amazon. Currently, Next Wines is offering up three bottles, which include the 2016 Willamette Valley Pinot Gris, 2014 Columbia Valley Red Blend and 2015 Oregon Pinot Noir.
PYMNTS
JULY 4, 2017
The speed of cryptocurrency is a lure in terms of getting transactions done. So is the security. The price, at least for Bitcoin? Not so much — not anymore. As The Wall Street Journal reports , while Bitcoin’s initial design may have been predicated on cheapness, the status quo has changed when it comes to transactions. In fact, the attendant costs of buying and selling the digital currency have risen so much, they are proving rather controversial.
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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
JULY 5, 2017
For a chief financial officer (CFO), having technology — from ERP systems to cloud accounting and cash forecasting tools — has become paramount when deploying a successful growth strategy. But come reporting time, many of these solutions still aren’t replacing spreadsheets and can’t capture key information behind the data , according to Wouter Born, chief technology officer of software firm CXO Solutions.
PYMNTS
JULY 7, 2017
Cyberattacks are never welcomed by any piece of technology. Late last month, reports surfaced of a “massive cyberattack” originating in Europe and quickly spreading to major corporations across the globe. According to Bloomberg reports on June 27, the attack was similar to WannaCry, first targeting Russia and the Ukraine, with more than 80 businesses were affected.
PYMNTS
JULY 6, 2017
U.K. startup Previse, an artificial intelligence (AI)-powered invoice financing platform, has announced new seed funding. Recent reports said Previse raised $2.58 million in funding from Hambro Perks, which led the round, as well as Founders Factory. Previse uses artificial intelligence and Big Data to assess the likelihood a company will pay its invoices, then provides that assessment to financiers through its platform.
PYMNTS
JULY 5, 2017
The Federal Reserve made news late last week when it released its newest data on consumer and business payment habits, assessed via data from 2015 compiled in 2016. According to Fed researchers, there were some significant changes in corporate payments activity between 2000 an 2015. The report, published Friday (June 30), found businesses wrote an average of 24.1 checks a month in 2015, down from an average of 66 per month in 2000.
Advertiser: Paycor
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.
PYMNTS
JULY 1, 2017
In just a few days, Americans will both settle into the swing of summer and celebrate the 241st anniversary of the day the Founding Fathers declared the 13 colonies would be known as the United States of America, complete with an official Declaration of Independence. Not surprisingly, the British did not initially agree, and though six years of fighting their soon-to-be former colonists did not persuade them those colonists had the right to leave the British Empire, it did convince them it wasn’
PYMNTS
JULY 5, 2017
Friction is something that I talk and write about a lot. Its abundance in payments and commerce is what inspires innovators to challenge a friction-filled status quo and create something new. But friction can also be what sidelines those who set out to eliminate one friction, only to create newer, more onerous ones in the process. I’m sure all of you have your favorite examples of those — and I’ve written about many of them.
PYMNTS
JULY 5, 2017
Amazon continues to make strides in its innovative eCommerce business. The retail giant has shared news that it will be opening a robotics-based warehouse in South Florida in 2018. The 850,000-square-foot facility will be staffed by robots, with 1,000 human workers handling operations. In addition to its Miami-Dade locations, this new warehouse project comprises one of the largest warehouses south of the city of Tampa.
PYMNTS
JULY 6, 2017
While the eCommerce frontrunner is taking further steps into solidifying its position, Amazon is getting a run for its money. In this edition of Today in Data, we look at Walmart’s rising marketplace numbers alongside Amazon’s Christmas in July offers and significant India investment. Here are the numbers: 92 million | Number of unique visitors per month for Walmart’s Marketplace. 69 percent | Growth of total gross merchandise sales by Walmart after its 2016 marketplace tech vendor partnership
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
JULY 4, 2017
The headlines during the penultimate week of June in The Washington Post regarding the Seattle minimum wage increase might have been a bit confusing to the casual observer. On June 20, the news trumpeted that minimum wage was not killing jobs. Five days later, headlines stated it was possible boosting minimum wage jobs was making life worse for the working class , followed two days by an article noting the program was working just as intended.
PYMNTS
JULY 5, 2017
In April 2016, IT solutions company Cisco Systems and car manufacturer Hyundai Motor Company entered into a connected car partnership. With a shared goal of moving toward marketplace proactivity in terms of fulfilling customer demand, the partnership will allow the companies to cater to — and possibly even shape — drivers’ desires before they arise.
PYMNTS
JULY 5, 2017
Innovation is both genesis and lifeblood for companies, especially within the payments space. Finding new ways to transact here, there, everywhere and at any time can both satisfy a consumer need and a profitable provider niche, but as our latest Commander in Chief installment with Applause CEO Doron Reuveni explores, agility is key. PYMNTS: How would you define Applause’s approach to innovation?
PYMNTS
JULY 7, 2017
Generation Z are the next up-and-coming group of shoppers who retailers are turning to for the future of retail. Yes, those born between 1994 and 2002 are starting to push millennials over in terms of shaping commerce and eCommerce trends. Get ready, retailers. The buying power of Gen Z comes out to $44 billion, according to an IBM and National Retail Federation study.
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 7, 2017
Big changes are coming to the faster payments landscape. But don’t worry about blinking and missing them, because these changes are going to stick around for a while and have the potential to make a long-lasting impact on how money is exchanged. The July PYMNTS.com Faster Payments Tracker™, powered by NACHA, highlights notable developments from across the faster payments landscape, including the debut of Early Warning System’s Zelle Network and how P2P payments could soon be distributed using v
PYMNTS
JULY 5, 2017
Dealmaking in the United Kingdom may be getting a boost in the wake of Brexit and in the wake of the fall in the pound. In the payments arena, Worldpay may be the beneficiary of both currency moves and strategic intent from some of its U.S. peers, eyed as a takeout target in a world where digital payments are gaining traction. U.S. multinational banking and financial services holding company JPMorgan Chase has reportedly made an early-stage bid for the acquisition of U.K. payment company Worldpa
PYMNTS
JULY 7, 2017
Corporate travel company Sabre suffered a cybersecurity incident, first revealed in May, and this week the firm provided an update on the situation. In an announcement Thursday (July 6), Sabre said it is working directly with certain clients and partners using Sabre Hospitality Solutions’ SynXis Central Reservations System, the target of an apparent breach.
PYMNTS
JULY 7, 2017
After Amazon’s $13.7-billion acquisition of Whole Foods, others in the grocery industry saw their shares slide. One company that’s escaping the Amazon fray is Costco Wholesale Corp. as the company just shared its same-store sales for the month of June, which surpassed expectations. Following the news of the wholesaler’s increased year-over-year sales for June, its shares rose 2.1 percent to $161.35.
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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