Sat.Aug 22, 2020 - Fri.Aug 28, 2020

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Invoice Fraud Strikes Amazon In $19M Scam

PYMNTS

In a case that highlights how anybody — truly, anybody — can be a victim of invoice fraud, federal officials have reportedly charged two brothers in New York State for an alleged $19 million scam targeting Amazon. The eCommerce conglomerate issued a press release late last week announcing its cooperation in the investigation and prosecution of the individuals charged by the United States Attorney's Office for the Southern District of New York.

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Jedox 2020.3: User Actions for Interactive Applications and Hyperflexible Lists for Reports

Jedox Finance

The 2020.3 version of Jedox software enables anyone building applications in Jedox to design an interactive experience for end-users with ease. And the all-new, hyper-flexible Jedox Lists take ad hoc reporting and analysis to another level.

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Why the Adam Kae Way Works

Adam Kae

The Secret to Our Success. Usually, spilling business secrets is typically a major “no no." In our case, our best kept secret is hidden in plain sight! Industrial organizational theorists have used the bones of the Adam Kae way for decades. We just gave some of these steps cooler names. Why are we telling you this? Our goal is to help you: Find solutions to complex financial problems.

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Nonprofit organizations face challenges. We offer solutions.

Capital CFO LLC

Nonprofit organizations are struggling, and it is as simple as that. The financial and staffing challenges often seem insurmountable. According to a recent article by Nonprofit Quarterly, … many organizations, […]. The post Nonprofit organizations face challenges. We offer solutions. appeared first on Capital CFO.

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Planning Your Restaurants Path to Profitability

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

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Fortnite, Minecraft Accounts Big Business On Black Market

PYMNTS

Tens of thousands of stolen Fortnite accounts are being sold on the black market in a $1 billion a year trade, according to Bloomberg. The news outlet cited a report from Night Lion Security , which looks into companies' vulnerable points. It found that criminals are using automated tools to mass-check for Fortnite accounts from hordes of stolen identities from recent data breaches.

More Trending

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A Guide to Donor-Advised Funds: Five Factors

CFA Institute

What are the basic features of donor-advised funds (DAFs) and what are the considerations in the asset allocation decision for a given donor?

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Industry Experts Say Bank Job Cuts Are Coming

PYMNTS

U.S. and Canadian banks are all but certain to cut personnel costs as the COVID-19 shock gives way to more long-term economic problems, even though the CEOs of some banks pledged this past spring to not lay off employees, per sources as reported by Reuters on Friday (Aug. 28). Industry experts cited by Reuters attribute their predictions to factors including low interest rates, credit problems among potential borrowers and efficiencies generated by work-from-home programs.

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Goldman Sachs Eyes Creating $2B Tech Fund

PYMNTS

Goldman Sachs is pondering a $2 billion venture and growth fund that could boost its stature in the world of technology investing, sources told Bloomberg. The amount of the fund being $2 billion would make it one of the largest in the field, Bloomberg reported. It could help Goldman Sachs court bigger investors and investments. SoftBank 's Vision Fund has $100 billion, but otherwise, not many firms have investment funds in the billions.

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18,000 Furloughed MGM Resorts Employees Laid Off

PYMNTS

MGM Resorts International CEO William Hornbuckle delivered bad news to his 18,000 furloughed U.S. employees on Friday (Aug. 28): They will not be invited back to work. The Wall Street Journal reports that the layoffs represent 25 percent of the company’s pre-COVID workforce of 68,000, as the global travel slowdown continues to hurt the casino industry’s recovery from COVID-19.

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How Automation is Driving Efficiency Through the Last Mile of Reporting

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

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Trimble Enhances Fleet FinTech Offering With Card Processing

PYMNTS

Trimble has announced new upgrades for its TMT Service Center and TMT Fleet Maintenance solutions, including faster payment options and more visibility, according to a press release. Renaldo Adler , industry principal of asset management for Trimble Transportation, said the new ideas are intended to bolster services for the new COVID-19-based environment for businesses.

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Related Cos. CEO Calls For Workers To Come Back To New York City

PYMNTS

Some major New York City retail properties — including the shopping center at Hudson Yards — are only producing 50 percent of pre-pandemic rent, the CEO of major Big Apple landlord Related Cos. said Thursday (Aug. 27), according to CNBC. "Retail is obvious struggling," Jeff Blau said on CNBC's "Squawk Box." "We expect that will pick up post [re]opening.".

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Apple Has Pulled Epic Games From App Store

PYMNTS

While a judge may not settle the dispute between Apple and Epic Games for months, the computer giant pulled the Fortnite maker’s games from the App Store on Friday (Aug. 28), 9to5Mac reported. Epic emailed its Fortnite players that the iOS and Mac versions of the game are blocked from receiving updates. The move comes amid a pending lawsuit against Apple by Epic.

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How One Cloud-Native Business Bank Overcame Its Cloud-Migration Roadblocks

PYMNTS

Businesses and consumers alike are increasingly tapping new digital offerings for their financial needs as the ongoing COVID-19 pandemic shifts banking practices. Financial institutions (FIs) worldwide are searching for solutions that can help them swiftly support customers, but this means many are becoming more aware of their legacy systems’ inadequacies.

Banking 90
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Register Now: Sneak Peek Into Close Automation SkyStem Web Demo

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, email, and shared drives no longer have to slow us down. Join us as we present a "sneak peek" recorded demo of SkyStem's month-end close solution – ART. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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Chipotle’s Chief Restaurant Officer On What’s Next For Restaurants

PYMNTS

Not unlike squirrels storing nuts for winter, some companies saw the resilience of digital channels long before the cold weather arrived earlier this year, carrying COVID-19 and assorted ills with it. Take restaurant success story Chipotle Mexican Grill , the fast-casual giant whose Q2 financials show the line of demarcation between an analog past and a very definite digital-first future.

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New Report: Helping Retail Treasurers Navigate The Digital D2C Shift

PYMNTS

Large, well-established companies were once seen as relatively insulated from disruptions wrought by Amazon, Netflix and other Silicon Valley giants. This was a doubtful proposition to begin with, but the COVID-19 pandemic has shaken such assumptions to the core, for companies both large and small. Corporates cannot expect to weather the economic and social changes taking place by virtue of their market clout and mastery of traditional supply chains and distribution channels.

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The Traditional Events That Are Getting Their Digital Debuts

PYMNTS

In the era of COVID-19, as the world is awaiting a vaccine that will formally bring the pandemic to a close worldwide and consign it to the realm of the ill-remembered past, a lot of traditions are looking to make their virtual/digital debuts. Everything from parades to trick-or-treating to Black Friday doorbusters to Santa Claus himself are getting a virtual makeover to make them safer and more socially distanced.

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COVID-Weakened EU Banks Fasttrack New Business Models

PYMNTS

The pandemic has fueled the need for European banks to restructure following years of poor performance. The Wall Street Journal (WSJ) reports a majority of Europe's biggest financial institutions (FIs) are ending old business models, trimming unprofitable business lines, boosting profitable ones and finding a formula that works. For example, based on weak returns, the newspaper reports HSBC is planning to trim 15 percent of its workforce.

Banking 83
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Accounting Software and ERP Readiness Guide

In this white paper, we explore the factors to consider in deciding whether the time is right for your Company to consider a new ERP or accounting software, the total cost of ownership and plans necessary to make the potential leap to these systems.

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Retail's Digital Shift, SPACs, And DoorDash's IPO Plans Top This Week's News

PYMNTS

It’s the end of another week and the end of a busy month. The PYMNTS Weekender is here to catch you up on the latest payments and commerce news. We have deep dives on retail’s digital D2C shift, blank-check companies, and DoorDash’s IPO plans. Top News. DoorDash Moves Ahead With Q4 IPO Plans. DoorDash , the San Francisco-based prepared food delivery service, is planning to go public by year’s end, after filing confidentially in February.

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Google Invests $100M Into Telehealth Provider Amwell

PYMNTS

Google 's cloud division is investing $100 million in Amwell , a telehealth operator preparing to go public, according to CNBC. The investment will come with Amwell transitioning some parts of its business away from Amazon Web Services and onto Google Cloud. Amwell will use Google as its "preferred global cloud partner," according to CNBC, and will move some of its video performance capabilities to Google.

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It’s Down To The Wire For Wirecard

PYMNTS

Call it a case of death by a thousand cuts. Job cuts. And cutting loose operations. And cost cuts. What will be left of Wirecard Card Solutions? What will be left of Wirecard? The company said this week that it would sell its United Kingdom operations to Railbank. Though the terms of the agreement were not disclosed, the pact seems far-reaching in scope.

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Uber Health’s Play To Close The Last Mile In Prescription Deliveries

PYMNTS

Uber Health made big news this past week with the announcement that it was scaling up its delivery services to include pharmaceutical products in some locales. That’s a major new add-on for Uber Health, which the ride-hailing firm launched in 2018 to provide patients with transportation to and from medical appointments. "With COVID-19 cases still on the rise across the U.S., getting to a pharmacy to pick up prescriptions can be challenging for many and nearly impossible for some," Uber said in a

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Recruit and Retain New Blue-Collar Talent

Blue-collar jobs have a branding problem. One company, GEON, partnered with Paycor to find the solution. Learn how to attract, engage, and retain blue-collar employees, helping them build meaningful careers – and support your company’s goals.

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Freshly Rolls Out Meal Delivery Platform For Businesses

PYMNTS

Freshly , which works in manufacturing fresh, prepared meals for the U.S., introduced a new B2B platform, Freshly for Business , which is centered around feeding company teams in any place, according to a press release published by Food Industry Executive. In 2020, Freshly is set to deliver 50 million meals to over 200,000 zip codes in the country, which the release stated will be a lifeline during the current pandemic.

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Australian Bank Debuts BizExpress To Speed Up SMB Financing

PYMNTS

Commonwealth Bank of Australia (CBA) has introduced a new digital service that expedites the distribution of pandemic-related loans, allowing small- to medium-sized businesses (SMBs) to access money "within minutes," according to a report from News.com.au. With the bank's new BizExpress Online, existing SMB customers can apply for loans of up to $50,000 through the bank's NetBank and CommBank apps.

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Mitek, Lightico Team On Secure Smartphone Text Transactions

PYMNTS

Mitek , which offers digital identity verification services, has partnered with Lightico , which works in the field of identity verification and eSignatures, to provide a new way to complete transactions over a text message, a company blog post stated. Lightico, using a secure platform, can allow businesses to "collect forms, documents, eSignatures, photos and payments, consent to disclosures and verify identities instantly via text, even while the customer is on the phone," the post stated.

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Bitcoin Daily: Huawei Creates Blockchain System For Beijing; CryptoTrader.Tax Suffers Hack

PYMNTS

Huawei has created a technology based on the blockchain to help the Beijing government more effectively monitor and supervise citizen information, CoinDesk reported. The effort is reportedly part of the “New Infrastructure Initiative” of the country to allow for information to be unchangeable and provided to various governmental bodies, the report stated.

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PowerPoint Best Practices for Creating Stellar Presentations

Mastering data visualization in PowerPoint will help accelerate your career because it positions you as someone who can present data that drives business decisions forward. think-cell's PowerPoint Best Practices eBook was created specifically for professionals aiming to master the art and science of data-driven storytelling. What’s inside: Practical Insights: Uncover valuable tips for crafting engaging and persuasive presentations.

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Open Payments Raises $3.5M In Seed Round

PYMNTS

Open Payments, Open Payments , the Stockholm-based FinTech, has raised a €3M ($3.5M) seed round, according to a report from the magazine EU-Startups. The round is led by Industrifonden , with participation from existing investors including Brightly Ventures and Luminar Ventures. The funds, according to the report, will be used to "to continue to grow the team and establish the platform in the Nordic and European market.".

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Apple's Fortnite Fight Hurts All Gaming Business, Microsoft Says

PYMNTS

Microsoft is stepping into the fray of the legal battle between Apple and Epic Games over the banning of the Fortnite app from the App Store and the banning of Epic's account, CNBC reported. Kevin Gammill , Microsoft’s general manager for Gaming Developer Experiences, said the banning of Epic Games sets a bad precedent because it makes Microsoft and others unable to use Epic's Unreal Engine.

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This Week In Payments: MerchantE’s Sandra Blair On Amazon’s Busy Week And The Secret To Salesforce’s Success

PYMNTS

It’s been another busy week in payments and commerce, as summer winds down and the world gears up for an autumn where nothing seems certain except the presence of pumpkin spice at Starbucks (and everywhere else). Sandra Blair , executive vice president of MerchantE , joined Karen Webster in our latest edition of This Week in Payments to discuss the week’s big news, from some high-profile Amazon launches to the Salesforce ecosystem’s real power.

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