2020

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Oracle, SWIFT Add Fast Cross-Border Payments For SMBs

PYMNTS

Oracle Banking Payments announced Wednesday (Oct. 7) that it is supporting SWIFT ’s latest service to speed effortless global cross-border payments for small- and medium-sized business (SMBs) and consumer markets. “We see great potential for banks that are competing against FinTechs and alternate networks when it comes to cross-border payments,” Sonny Singh , Oracle Financial Services’ executive vice president and general manager, said in a statement.

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Will Finance Become 100% Digitalized?

Jedox Finance

We have been talking about a digital transformation in Finance for ages. Some have come far on the journey while others are still struggling. Having just gone through a severe crisis that saw everyone working remotely and using digital tools makes this transformation more relevant than ever. . Right now, we are looking at two almost extreme cases: On one hand, we are at a stage where the transformation can be completed because of all the tools are available.

Finance 141
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How to Prepare for Preliminary SaaS Due Diligence

The SaaS CFO

You’ve decided that it’s time to take on investment or sell your SaaS company. Or maybe that cold email from a private equity associate finally has you thinking about the next steps for your business. What’s next? Preliminary SaaS due diligence. Depending on your role and what side of the table you’ve been on, the […]. The post How to Prepare for Preliminary SaaS Due Diligence appeared first on The SaaS CFO.

CFO 131
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PayPal, Mastercard Add 5 EU Countries To Debit Card Offering

PYMNTS

PayPal and Mastercard are bringing the PayPal Business Debit Mastercard to more businesses in Europe. The companies said in a Wednesday (Sept. 23) announcement that the card is now available in France, Austria, Italy, Ireland and Spain beyond its current availability in the United Kingdom, Germany and the United States. Small businesses can have immediate access to their PayPal funds and unlimited 0.5 percent cash back on all of their eligible spending with the debit card.

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How to Build the Ideal HR Team

HR doesn’t exist in a vacuum. This work impacts everyone: from the C-Suite to your newest hire. It also drives results. Learn how to make it all happen in Paycor’s latest guide.

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European Central Banks Demand Strict Cryptocurrency Regulations

PYMNTS

Europe's biggest banks have called on the European Commission to implement tough regulations for cryptocurrencies, such as stablecoins, that would protect consumers and preserve state sovereignty in monetary policy, Reuters reported. In a joint statement Friday (Sept. 11), the finance ministers of Germany, France, Italy, Spain and the Netherlands said they asked the executive branch of the European Union (EU), the agency responsible for managing the day-to-day business of the EU’s 27 nations, to

Banking 145

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Western Union Expands Real-Time Digital Payments To 100 Countries

PYMNTS

Western Union just took another big step toward ramping up its growing digital payments arsenal. The legacy global remittance giant said on Monday (Nov. 23) that it has expanded its real-time digital payout capabilities in a move that encompasses billions of bank accounts in 100 countries. Western Union first unveiled the goal of expanding digital payments to 100 countries during its investor day event in 2019.

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Google Almost Done With Transition To SAP Ariba Network

PYMNTS

Google’s transition to SAP Ariba ‘s cloud-based services has a completion date set for Aug. 24 after multiple waves that began last October, according to a press release. The final wave concerns the Asia Pacific region. Last October, U.S. suppliers were switched over, and in May of this year, the rest of North America, Latin America, Europe, the Middle East, and Africa made the jump, the release says.

SAP 144
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Wirecard Linked To Mafia Money Laundering

PYMNTS

Scandal-plagued German FinTech pioneer Wirecard counted among its payments processing clients an online casino that laundered money for an arm of “one of Europe’s most dangerous mafia organizations,” the Financial Times reported on Monday (August 3). The paper cited documents and “Italian legal sources” in its story about the organized crime syndicate ’Ndrangheta and CenturionBet, an online gaming company based in Malta.

Banking 144
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IRS Launches Consumer Portal For Getting Stimulus Checks

PYMNTS

A new IRS portal for coronavirus relief payments has been launched in conjunction with the U.S. Treasury to assist people who don’t typically file taxes. . The non-filer tool can be used by U.S. citizens and resident aliens who are not claimed as dependents and had gross income below $12,200 ($24,400 for married couples) in 2019, according to the IRS site.

Treasury 145
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Planning Your Restaurant's 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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Sweden’s Outlier Response To COVID-19, And Its Results So Far

PYMNTS

While most of the world has gone into some version enforced social distancing and quarantine mode with the rise of COVID-19 — closing schools, banning public gatherings, shutting down all non-essential businesses like restaurants and shops and requiring that anyone who can work from home do so — Sweden has been an outlier. Shops in Sweden remain open, as do bars, restaurants, schools and offices.

Education 145
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Pandemic Has Consumers Embracing QR Codes And Contactless Payments

PYMNTS

While the global pandemic has taken a toll on almost every business, consumer demand for all things touchless is surging — and has even been a driver of growth for QR codes. Although the 20-year-old technology has long enjoyed strong adoption in Asia (especially China), 2020 could go down as the year that U.S. merchants and shoppers fully embrace those ubiquitous square squiggly merchant codes.

Retail 144
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Bringing AI To The Fight Against Healthcare Payments Fraud

PYMNTS

The coronavirus pandemic poses an unprecedented challenge to healthcare systems that will likely extend for months — and perhaps even years — to come. More than ever, hospitals and other medical facilities need to focus their resources on healing the sick and avoid getting bogged down by administrative costs and inefficiencies. This brings a longstanding challenge to the fore: Healthcare organizations have long struggled with fraud, waste and abuse (FWA), costing the United States healthcare sec

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Personalizing — Not Just Digitizing — The B2B eCommerce Experience

PYMNTS

As the B2B commerce landscape innovates, it is continually after that "Amazon-like" experience forged in the consumer commerce world. But for B2B vendors and suppliers, the unique needs of corporate customers cannot be ignored, making a consumer-like buying experience particularly complex. Pricing and payments are two key areas that tend to look vastly different in the B2B world than in the consumer arena.

B2B 143
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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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PayPal CEO Shulman: Consumers Moving To Digital Currency In Droves

PYMNTS

Consumers are moving to digital payments and cryptocurrency in droves, and it’s inevitable that more central banks will issue digital forms of currency, PayPal CEO Dan Schulman said in a televised interview on Monday (Nov. 23). “There's no question that people are flocking to digital payments and digital forms of currency,” Schulman told CNBC’s “Squawk Box.”.

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Bahamas Launches Digital Sand Dollar; Adds To Rise Of Central Bank Digital Currencies

PYMNTS

Facebook’s Libra might be fading a bit as a perceived threat to monetary systems that have been in place around the globe for centuries. But the race is still on for central banks to develop their own digital versions of fiat to take their place alongside bills and coins. To that end, the Bahamas may stand out as an epicenter of sorts for the rise of central bank digital currencies (CBDCs).

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ID2020: What’s Needed For Digital Identity In 2020

PYMNTS

Who we are, where we’re headed and what this all looks like on the “other side” of the pandemic are topics on everyone’s mind right now. So are vaccines. So is online shopping, with urgency. All of these subjects share a commonality: IDs. In commerce, knowing (and verifying) who’s on the other side of a transaction can mean the difference between a retailer making a sale to a loyal customer or a fraudster.

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Central Bank Of Russia: Electronic Money Could Render SWIFT Obsolete

PYMNTS

Digital currencies could render the SWIFT global payments network unnecessary, RT.com reported, citing the Central Bank of Russia (CBR). Olga Skorobogatova, first deputy governor of the CBR, said 30 countries are working on their own national digital currencies, some of which could launch in five to seven years. According to the Bank for International Settlements (BIS), as of July, some 36 central banks published studies on the concept of a central bank digital currency (CBDC) also known as a di

Banking 142
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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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HSBC Hong Kong Announces New API For Instant B2B Payments

PYMNTS

HSBC Hong Kong ‘s new application programming interface (API) will simplify the payment system for businesses down to a one-stop payment hub, a press release says. The service will let businesses incorporate the instant electronic Direct Debit Authorisation (eDDA) into their own systems, along with real-time funds transfer services. That will allow businesses to eliminate the cumbersome old ways, which required them to sign onto their bank accounts to set up a direct debit instruction and

B2B 143
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Reimagining The Bank As A Technology Company

PYMNTS

Intimidated by the scale and cost of a massive technological overhaul, large financial institutions (FIs) may approach their digital transformation (DX) journeys gradually, targeting various areas of operations to modernize one-by-one. While this strategy can yield results, it can also create silos, hampering a bank’s ability to achieve one of the most vital goals of DX: seamless integration of operations that boost efficiency and improve the end-user experience.

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CFPB: Santander Must Pay $4.75 Million For Credit Reporting Violations

PYMNTS

Santander Consumer USA was ordered to pay $4.7 million to the Consumer Financial Protection Bureau ( CFPB ) for violating the Fair Credit Reporting Act (FCRA), the CFPB said in a press release. According to the release, Santander allegedly knew that it provided incorrect consumer data to the three major credit reporting agencies (CRAs). Santander is an originator and servicer of non-prime auto loans and leases and provides credit information to CRAs via monthly data files, according to the CFPB

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Financing Gets Flexible As eCommerce Sellers Brace For Seasonality Whiplash

PYMNTS

With the holiday shopping season in full swing amid the global pandemic, online commerce is booming. Digital Black Friday sales this year hit $9 billion, a 22 percent increase from 2019 figures, according to recent Adobe research. And the surge in eCommerce isn't isolated to the B2C world, either: as social distancing requirements and shutdowns migrate corporate buyers online, wholesalers, distributors and other B2B vendors are likely to face a similar holiday boon this year to fulfill rising cu

eCommerce 142
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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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US Treasury Proposes Sweeping New Disclosure Rules On Bitcoin, Other Cryptos 

PYMNTS

The U.S. Treasury Department proposed sweeping new rules late Friday (Dec. 18) that the government says would make convertible digital currencies like bitcoin less attractive to criminals engaging in crimes such as ransomware attacks. The new regulations, if adopted after a comment period, would require banks and some other institutions to obtain and report the identities of parties engaging in certain digital transactions, including payments involving what are called "unhosted wallets" – effect

Treasury 141
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AI Models Eliminate Bias For Digital ID

PYMNTS

The age of artificial intelligence (AI) is upon us, where data feeds and models are used in the service of everything from verifying the digital identity of remote users to approving or denying a bank loan application. But Labhesh Patel , chief technical officer and chief scientist at real-time identification firm Jumio , told PYMNTS in a recent interview that AI-underpinned models are only as good as their underlying training datasets.

Auditing 141
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Visa: Real-Time Settlement, Online Marketplaces Help Put SMBs Back On The Road To Recovery

PYMNTS

Online marketplaces are the digital storefronts helping small to mid-sized businesses survive — but adding real-time settlement into the mix can help them thrive. To that end, joint research between PYMNTS and Visa , in a study titled Marketplaces as Retail’s New Front Door , found that 60 percent of surveyed businesses that are not currently using online marketplaces would like to do so.

Sales 141
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Retailers Using Chapter 11 To Break Lease Agreements

PYMNTS

Companies that have filed for Chapter 11 bankruptcy are using the court protection to end long-term lease agreements early and close thousands of stores, reported Bloomberg. The news site named Neiman Marcus Group Inc, Brooks Brothers Group Inc, J.C. Penney Co., J. Crew Group Inc. and the owner of Ann Taylor as companies looking to use this protection to avoid lease renegotiations and even back out of rent obligations altogether.

Retail 141
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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.