CFO News Room

NOVEMBER 1, 2022

Stryker – The medical technology company dropped 4% after cutting its outlook due to inflation and foreign exchange pressures. SoFi – The fintech company jumped 10% on the back of a smaller-than-expected quarterly loss and revenue that exceeded analysts’ forecasts. Eli Lilly – The drug manufacturer dropped 4.8%

Foreign Exchange 130

Foreign Exchange Budgeting Profit and Loss Pharmaceutical 130

PYMNTS

OCTOBER 23, 2018

Bank of America Merrill Lynch (BofA Merrill) is introducing a new solution for other financial institutions (FIs) in the interbank payment system to automate foreign exchange (FX) conversion. 22), BofA Merrill said the solution also integrates data analytics and machine learning technologies to accelerate the process.

Foreign Exchange 76

Foreign Exchange Banking Currencies Compliance 76

PYMNTS

NOVEMBER 6, 2018

Technology developed by Bloomberg is now being used by Shell ‘s Foreign Exchange Central Treasury unit to interconnect the fuel conglomerate’s operating units across 22 markets, the companies revealed Monday (Nov.

Treasury 53

Treasury Foreign Exchange Auditing Startups 53

Future CFO

JANUARY 31, 2024

Kwang Hwee also believes that they should remain vigilant and mindful of risks, particularly in respect of contract, credit, foreign exchange, geopolitical and other risks. Technologies including AI will help us develop personalised nutrition solutions," Wang says. Singapore should be a stand-out performer in the bloc."

Foreign Exchange 52

Foreign Exchange CFO Risk Management Economics 52

PYMNTS

NOVEMBER 3, 2020

In this week's roundup of payment rail innovation, PYMNTS finds B2B payments use cases serve as an important driver of adoption, with FinTechs and financial service providers embracing payment rails old and new to enable real-time B2B payments and foreign exchange. In the latest show of support for distributed ledger technology, J.P.

B2B 56

B2B Foreign Exchange Currencies Accounts Payable 56

Future CFO

APRIL 10, 2022

On the wholesale side, the leading project in the Index is the combined effort of the Hong Kong Monetary Authority (HKMA) and the Bank of Thailand (BoT) to launch the mBridge project, focused on developing a proof-of-concept prototype to enable real-time, cross-border foreign exchange payments on distributed ledger technology, the firm pointed out.

Foreign Exchange 98

Foreign Exchange Currencies Banking Retail 98

CFO News Room

NOVEMBER 2, 2022

The company said it was hurt by higher costs, Chinese Covid lockdowns and fluctuating foreign exchange. The industrial technology firm reported sales of $884.9 Broadridge Financial — Shares fell 6% after the financial technology company missed profit and sales expectations in its most recent quarter. billion.

Foreign Exchange 130

Foreign Exchange Transportation Entertainment Advertising 130

PYMNTS

MARCH 26, 2020

Western Union will use Integral’s technology for its electronic foreign exchange (eFX) risk management technology across the Western Union Business Solutions program. Western Union recently partnered with Integral for a new risk management mechanism called Integral BankFX.

Foreign Exchange 114

Foreign Exchange Currencies Risk Management Technology 114

PYMNTS

MARCH 9, 2018

Foreign exchange solutions company OANDA is enhancing its application programming interface (API) that opens up its foreign exchange (FX) technology to third-party apps. The company announced news on Thursday (March 8) that its Exchange Rates API has been updated to include real-time FX rates.

Foreign Exchange 70

Foreign Exchange Currencies Treasury Technology 70

Future CFO

OCTOBER 30, 2023

Treasury activities, which cover money market operations, foreign exchange transactions, securities trading, and derivatives, generate a significant volume of data that are needed to be meticulously monitored and properly reported.

Treasury 52

Treasury Foreign Exchange Risk Management Compliance 52

PYMNTS

NOVEMBER 20, 2020

Gulati discussed what this trend means for the way that multi-entity SMBs manage a range of financial workflows across borders, and how technology can ease the biggest friction pain points like foreign exchange volatility and domestic compliance. They think global, they hire global, and they acquire customers globally.".

Mergers and Acquisitions (M&A) 61

Mergers and Acquisitions (M&A) Foreign Exchange Reconciliations Currencies 61

PYMNTS

NOVEMBER 17, 2020

Customers will be able to compare purchase orders alongside invoices before going to straight to payment in more than 145 currencies with the AP technology of Beanworks and the payments technology of Cambridge brought together. Firms can start wire transfers and other payments with the Beanworks system as a result of the collaboration.

Accounts Payable 84

Accounts Payable Foreign Exchange B2B Invoicing 84

PYMNTS

MARCH 16, 2020

Western Union, known for cross-border payments and money moving maneuvers, will use Integral’s technology for its electronic foreign exchange (eFX) risk management technology across the Western Union Business Solutions program, the release states.

Foreign Exchange 63

Foreign Exchange Risk Management Currencies B2B 63

PYMNTS

OCTOBER 28, 2020

Advanced workflow automation functions enable connection to the client’s back-office technology. OpenPayd Debuts Access To Quick Foreign Exchange Payments. 27), which will help clients access easy foreign exchange payments, according to a press release. PCMI, Infintech Partner On Automated B2B Payments.

B2B 56

B2B Foreign Exchange Accounts Payable Invoicing 56

PYMNTS

MARCH 1, 2019

South Africa’s Standard Bank has announced a new private-permission, cloud-based distributed ledger platform that aims to speed up foreign exchange (FX) payments, as well as make transactions more transparent. The platform will go live in the first half of this year.

Foreign Exchange 75

Foreign Exchange Data Analysis Startups Banking 75

PYMNTS

AUGUST 13, 2019

12) in Catering Insight showcased some of the foreign exchange hurdles businesses face as a result of that uncertainty. Last month, reports in the Financial Times made clear that businesses will increasingly be faced with decisions they must make about how to manage foreign exchange volatility. Reports Monday (Aug.

Foreign Exchange 72

Foreign Exchange Accounts Payable Risk Management Reconciliations 72

PYMNTS

MARCH 20, 2020

The partnership will focus on carrying out foreign exchange transactions and will allow those who access Ebury’s services to trade in over 130 currencies at competitive rates. Since then, it has grown to accommodate 45,000 businesses in numerous countries, trading more than $23 billion in foreign exchange in the past year or so.

Foreign Exchange 52

Foreign Exchange Currencies Banking Technology 52

PYMNTS

AUGUST 11, 2020

Revolut , one of the biggest players in the crowded financial technology (FinTech) sector, has yet to make a profit. Founded in 2015, Revolut began by offering prepaid debit cards that allowed users to avoid foreign exchange fees while traveling abroad. The company posted a total loss of $139.6 million (£106.5

Profit and Loss 95

Profit and Loss Foreign Exchange Startups Banking 95

PYMNTS

NOVEMBER 16, 2020

One of the biggest challenges in cross-border trade for any kind of business relates to foreign exchange. Statrys, which launched less than one year ago, stepped into the market to address this pain point by offering both foreign exchange services as well as a business account that can be opened entirely online.

Foreign Exchange 56

Foreign Exchange Currencies Manufacturing B2B 56

PYMNTS

MARCH 16, 2020

There will be cost transparency on fees, and payment routing will be handled by Goldman Sachs’ advanced machine learning technology. Risk will be less of an issue because of the increase in transparency and tighter control on foreign exchange payments, along with the currency exposures for those with stake in procurement and treasury.

SAP 99

SAP Foreign Exchange Reconciliations Currencies 99

PYMNTS

NOVEMBER 2, 2016

A Japanese bank consortium gearing up to create a new real-time payments platform using blockchain technology from SBI Ripple Asia has expanded to 42 members. According to a report , the group launched in August with 15 members, and SBI Ripple Asia had expected to increase the size to 30 banks.

Foreign Exchange 77

Foreign Exchange Banking Currencies Technology 77

PYMNTS

OCTOBER 22, 2020

In today’s top news in digital-first banking, Unifimoney is joining forces with Nium for real-time money transfers, while Volante Technologies has landed Grupo Financiero Banorte as a new client to modernize cross-border payments. Unifimoney Partners With Nium for Real-Time Global Transfers .

Foreign Exchange 61

Foreign Exchange Banking Technology 61

PYMNTS

APRIL 16, 2020

Deutsche Bank achieves PromptPay by combining instant payments with API technology in order to create “interactive” experiences. In addition, Deutsche Bank has also made headlines for its work in Sri Lanka helping with a new digital foreign exchange program.

Foreign Exchange 91

Foreign Exchange Currencies Banking Technology 91

PYMNTS

MARCH 26, 2019

Globalization and easing barriers to international expansion aren’t simply changing the way corporates manage foreign exchange exposure. What all of these challenges mean is that even when an organization decides to implement a foreign exchange management strategy, unexpected problems can still arise.

Foreign Exchange 69

Foreign Exchange Currencies Cash Management Profit and Loss 69

PYMNTS

OCTOBER 20, 2020

Information technology services provider Mphasis is teaming with global enterprise services provider R3 to work on blockchain-based payment solutions, a press release says. It works through a variety of business fields including financial services, healthcare and oil and gas, according to the release.

Foreign Exchange 82

Foreign Exchange Healthcare B2B Finance 82

PYMNTS

SEPTEMBER 12, 2019

French financial institution BNP Paribas has announced a FinTech partnership to strengthen its foreign exchange service offerings.

Foreign Exchange 65

Foreign Exchange Treasury Forecasting Currencies 65

PYMNTS

NOVEMBER 12, 2020

The Financial Stability Board this month issued a warning for financial institutions (FIs) that outsource key technologies and functions, warning of " systemic risk " associated with too much reliance on a third-party partner. But it may not always be smooth sailing ahead.

Banking 88

Banking Treasury Foreign Exchange Risk Analysis 88

PYMNTS

AUGUST 11, 2020

After changing the two-factor authentication, the individual moved a cache of digital currency to a foreign exchange. Clients had to previously ask to harness the company’s technologies for software creation. The 25-year-old individual gained access to the digital currency account belonging to a man in his 50s.

Foreign Exchange 74

Foreign Exchange Currencies Accounting Finance 74

PYMNTS

JUNE 10, 2020

To help facilitate global small and medium-sized business (SMB) trade, Morgan Goodwin has linked its EdgeCTP digital trade technology with the WU EDGE system of Western Union Business Solutions. EdgeCTP combines a myriad of business produces, including shipping and logistics, sales, and stock and warehouse, among other processes.

Foreign Exchange 52

Foreign Exchange Risk Management Currencies Economics 52

PYMNTS

JULY 8, 2020

To provide platform clients a greater ability to grow and be transparent with global payments, cloud banking company Mambu and B2B cross-border technology firm Currencycloud have joined forces with an integration, according to an announcement. It is an exciting partnership as we develop our offering and continue to innovate together.”

B2B 56

B2B Foreign Exchange Invoicing Accounting 56

PYMNTS

JANUARY 20, 2021

Procurement technology company JAGGAER has collaborated with TransferMate to provide offerings from “source to settle,” according to an announcement. TransferMate lets businesses exchange international payments quicker and simpler than in the past.

Foreign Exchange 57

Foreign Exchange Reconciliations Strategic Planning Currencies 57

Simply Treasury

JUNE 3, 2021

It also aims at identifying challenges corporate treasurers of MNC’s are facing and technological innovations they intend to implement. Top three treasury priorities in the coming months: Technological innovations. The answers show a certain lucidity on the part of treasurers who seem realistic in their use of new technologies.

Cash Flow Forecasting 130

Cash Flow Forecasting Treasury Forecasting Foreign Exchange 130

PYMNTS

JULY 29, 2019

Geopolitical volatility has analysts urging businesses to hedge against foreign exchange risks as trade tensions rise in Asia and the U.S., With today’s tools and technology, CFOs no longer need to accept these FX losses as a ‘cost of doing business,’” The firm’s Chief Evangelist Wolfgang Koester said in a statement earlier this month.

Foreign Exchange 40

Foreign Exchange Currencies Treasury Technology 40

PYMNTS

APRIL 29, 2020

German banking platform Mambu has announced a collaboration with TransferWise to enhance banks’ cross-border payments and foreign exchange management operations, the companies recently revealed. Trade finance technology firm Surecomp is expanding its capabilities for developers and lenders, launching an API dubbed APIsure.

Banking 95

Banking Foreign Exchange Invoicing Finance 95

PYMNTS

OCTOBER 9, 2019

CLS Group, a financial institution providing foreign exchange settlement solutions, has acknowledged that blockchain is not necessarily critical to improving FX trading, despite having invested heavily in the technology. Reports in Coindesk on Tuesday (Oct.

Foreign Exchange 49

Foreign Exchange Currencies Technology Investments 49

PYMNTS

MAY 5, 2020

London-based FinTech Revolut is planning to tap the $500 million it got from investors to acquire competing technology firms suffering from the impact of the global coronavirus pandemic. Founded in 2015, Revolut began with a prepaid debit card that enables people to sidestep foreign exchange fees while traveling abroad.

Foreign Exchange 70

Foreign Exchange Startups Valuation Banking 70

PYMNTS

OCTOBER 8, 2020

Mambu worked with B2B cross-border technology firm Currencycloud in order to let clients quickly work to put virtual accounts, collections, foreign exchange services and payments in place. The changes aim to improve speed and control in banking.

Foreign Exchange 56

Foreign Exchange B2B Invoicing Banking 56