PYMNTS
JULY 23, 2020
The money for a second round of $1,200 stimulus checks for individual Americans could come quicker than the first, according to The Wall Street Journal (WSJ). The heightened speed at which the payments will come is based around the procedures, online tools and bank account information that were not present during the hasty rollout of the first payments, new at the time due to the pandemic’s rapid onset.
Future CFO
JULY 23, 2020
DBS Bank has partnered with business cloud software company Infor to integrate digital trade financing capabilities into the Infor Nexus global network of more than 68,000 businesses, the technology firm said recently. . The two companies’ first joint program lately went live with one of the world’s largest global apparel companies, providing faster and more cost-efficient digital trade financing to suppliers in the apparel company’s supply chain ecosystem which comprises mostly small-to-medium-
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Jedox Finance
JULY 23, 2020
This week we are pleased to welcome our Diamond Partner, smartPM.solutions , as a guest to the Jedox blog. Headquartered in Austria, they share their expertise on program and project performance management and discuss seven common mistakes and how to avoid them. Numerous project applications, approvals, budget and resource allocations, and the monitoring of the success of projects and portfolios regularly push program managers to their limits.
CFA Institute
JULY 21, 2020
How did gender lends funds perform amid the pandemic and economic downturn of the first quarter?
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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 21, 2020
Crypto boosters have spent the better part of the past decade promoting the idea that great fiat-currency disruptions are coming care of blockchain and literally hundreds of thousands of variations of cryptocurrency circulating in the world today. Crypto enthusiasts proclaim that you can front the best-known players like bitcoin or the most obscure blockchain-backed currencies circulating the world and tap into the future of money.
Corporate Finance Brief brings together the best content for corporate finance professionals from the widest variety of industry thought leaders.
PYMNTS
JULY 21, 2020
Spotify Technology on Tuesday (July 21) augmented its big push into podcasting with a major new offering, as the music streaming service announced plans to let select creators roll out videos along with their core audio offerings. Promising a “visual and audio feast,” Spotify said that both free and paid subscribers will now have access to “video podcasts” from the creators of podcasts like Book of Basketball 2.0 , Fantasy Footballers , Misfits Podcast , H3 Podcast , The Morning Toast , Hig
PYMNTS
JULY 22, 2020
Goldman Sachs has predicted that online shopping will expand by 19 percent each year during the next three years to come, which marks a rise from its past forecast of 16 percent. The firm said the acceleration was mainly fueled by quicker growth in the United States, Brazil, Western Europe and a good share of APAC, according to the Monday (July 20) report.
PYMNTS
JULY 24, 2020
London startup mobile bank Revolut Ltd. has secured $80 million in new funding at a $5.5 billion valuation as part of its Series D round that kicked off five months ago. The latest infusion of cash comes from TSG Consumer Partners , a San Francisco-based private equity company, TechCrunch reported. In February, Revolut raised $500 million in a round led by Menlo Park, California-based TCV, one of the largest growth equity firms.
PYMNTS
JULY 24, 2020
Megamalls are having mega problems. The two largest U.S. malls — Minnesota’s Mall of America and New Jersey’s American Dream mall — are struggling, with the company that owns both recently skipping a third straight payment on the Minnesota property. Located in Bloomington, Minn., the Mall of America features not only 500 stores, but also some 28 amusement-park rides, an aquarium and more.
Advertiser: Paycor
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PYMNTS
JULY 21, 2020
Western Union has signed a deal with TrueMoney , a Philippines financial services provider, the global cross-currency money mover and payments company announced on Tuesday (July 21). Terms of the deal were not disclosed. The collaboration will allow customers to get cash at select TrueMoney locations identified by Western Union signs. The service will eventually be available at more than 5,000 locations in the Philippines.
PYMNTS
JULY 20, 2020
The payments program from messenger service WhatsApp will be allowed to go forward in Brazil, the country’s central bank said, so long as all rules are respected, Reuters reported. Brazil suspended services on the implementation of the new payment system last month, saying it was worried about the potential for monopolies to arise from the partnership between WhatsApp and large international companies like Visa and Mastercard.
PYMNTS
JULY 22, 2020
“People want to be able to pay however they want, including with cards, digital wallets, alternative payment methods and rewards points. Giving customers choice can drive sales and loyalty.”. It’s hard to argue with the statistics on payments preference. It’s even harder when those stats are provided by industry titan PayPal. They make a powerful point about choice.
PYMNTS
JULY 21, 2020
Capital One reported on Tuesday (July 21) that its credit card business shrank during the second quarter, but that delinquencies fell despite the pandemic. “The impacts of the COVID-19 pandemic drove second-quarter results across all of our business segments,” Richard Fairbank , Capital One’s founder, chairman and CEO, said in an earnings call with analysts.
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 21, 2020
Open banking is appealing to financial institutions (FIs) and regulators in many markets, even as the pandemic sweeps across the world. The European Union’s financial authorities are monitoring how the pandemic may be affecting banks’ and FinTechs’ compliance with rules such as the General Data Protection Regulation (GDPR) and the revised Payment Services Directive (PSD2), for example.
PYMNTS
JULY 20, 2020
U.K. small and medium-sized business (SMB)-focused bank Tide said it has a new relationship with Mastercard that makes Tide one of the card company’s principal issuers, Finextra reported Monday (July 20). “Entering a strategic partnership with Mastercard and becoming a principal card issuer is an extremely exciting step for Tide,” Tide CEO Oliver Prill said in a prepared statement, according to the report.
PYMNTS
JULY 22, 2020
Among the value propositions for real-time processing is to improve liquidity while reducing transactional overhead. Yet for many entities, the concept of implementing real-time processing across an entire system can feel overwhelming complex. As real-time payment infrastructure grows more sophisticated, technology presents an opportunity for organizations to mitigate the adoption hurdle.
PYMNTS
JULY 24, 2020
When Indochino launched in 2007, the company wasn’t out to create a new template for the entire retail sector, just a better product with better prices and a better buying experience. But four months into a pandemic that has turned the traditional retail business model inside out, the company looks like it could teach all of retailing a new paradigm — a showroom model with little inventory and appointment-only viewing.
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 23, 2020
Berkshire Hathaway , the Warren Buffett-helmed conglomerate that owns Geico , upped its stake in Bank of America (BoA) by over $800 million, in what the Financial Times (FT) reported is a vote of confidence in the lagging U.S. banking sphere. Berkshire purchased 34 million shares in BoA, which is a 4 percent increase of its holding in the company, FT reported.
PYMNTS
JULY 22, 2020
Financial institutions (FIs) are beginning to see the light at the end of the tunnel for bouncing back from the pandemic, but the crisis has not been without its casualties. Banks have been forced to reduce or suspend in-branch activities to prevent the risk of infection at branches at least temporarily. The largest bank in the United States, J.P. Morgan Chase , closed 1,000 branches for awhile, and Citigroup temporarily shut down 100 branches.
PYMNTS
JULY 22, 2020
With the buy now, pay later (BNPL) movement on the rise, Affirm will be working with Shopify so its U.S. merchants can offer a BNPL payment option to their customers, the two companies said in a release. Affirm’s program essentially provides buyers of a wide range of products with a short-term loan that can be repaid through regular installments. The companies said the Shopify BNPL product, which is entering a testing phase, will be called Shop Pay Installments.
PYMNTS
JULY 19, 2020
Equity crowdfunding program Equifund CFP is launching a Regulation Crowfunding offering to help cannabis tech company Drop Delivery raise money for its all-in-one delivery system for cannabis products, according to a press release. Drop Delivery is touted as the first all-in-one system for cannabis retailers to use for developing a business in a safe and compliant manner.
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.
PYMNTS
JULY 24, 2020
Hundreds of thousands of Instacart customers are having their personal data sold on the dark web, including the last four digits of their credit cards, and the data could include people who used the popular delivery app as recently as this week, according to a BuzzFeed News report. There were sellers offering data from what could have been 278,531 accounts, although some may have been duplicates or fake, the report noted.
PYMNTS
JULY 23, 2020
The pandemic has exposed extreme vulnerabilities in today’s economy where six in 10 Americans live paycheck to paycheck. In an interview with PYMNTS, Warren Perlman , chief information officer at global human capital management company Ceridian , said allowing individuals access to their wages in real time — as those wages are earned — could brighten the economic landscape and boost financial wellness considerably.
PYMNTS
JULY 18, 2020
Though the coronavirus pandemic has highlighted the impact of late B2B payments in the U.S. — both due to U.S. corporates paying their suppliers late, as well as U.S. vendors struggling with delayed payments — the matter is, and always has been, a global one. This week’s late payments roundup finds new efforts from corporates and their financial service providers to address the issue, while separately, research warns that late B2B payments are adding extra pressure to small companies’
PYMNTS
JULY 22, 2020
Another livestreaming company is ready to launch in the U.S. Popshop Live is a mobile-based selling platform that will compete with Glamhive to be the pioneers in this relatively new format, which continues to see exponential growth in China. The company has a unique selling proposition that’s different than the Chinese model, which is based on appointment and event scheduling driven by celebrities and special guests.
Advertiser: GEP
“What should we do about the tariffs?” There’s no straightforward answer — every leader has a different expectation. CFOs want numbers. COOs want action. CEOs want strategy. And supply chain and procurement leaders need to be ready with the right response — fast. That’s why GEP has created a simple three-part framework that will help CPOs and CSCOs brief the board and C-suite with clarity and confidence.
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