FASB advances credit loss accounting relief for private firms
CFO Dive
OCTOBER 22, 2024
The credit loss rules grew out of the financial crisis and the concern that banks were delaying recognizing deteriorating asset values.
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CFO Dive
OCTOBER 22, 2024
The credit loss rules grew out of the financial crisis and the concern that banks were delaying recognizing deteriorating asset values.
CFO Dive
AUGUST 20, 2024
The Minneapolis-based bank’s new offering seeks to accelerate the accounts receivable process — sometimes viewed as a laggard in the race to automate finance.
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CFO News
SEPTEMBER 18, 2024
“Some of the largest banks in the country could be processing around Rs 300-400 crore worth of fraudulent transactions through mule accounts on a monthly basis; for mid-tier banks, the amount could be around Rs 50-100 crore," a senior banker with a private sector bank said on the condition of anonymity.
CFO Dive
NOVEMBER 3, 2023
The Royal Bank of Canada’s $6 million SEC penalty comes as FASB is updating U.S. guidance for tracking software costs for the first time in decades.
Speaker: Ryan McInerny, CAMS, FRM, MSBA - Principal, Product Strategy
May 18th, 2023 at 9:30 am PDT, 12:30 pm EDT, 5:30 pm BST
CFO News Room
FEBRUARY 2, 2023
Investing in a guaranteed interest account is a great way to secure your money, as there is very little risk. Guaranteed interest accounts provide reliable, consistent returns and can be used for short-term savings or to supplement other investments in your portfolio. Guaranteed interest accounts offer a stable rate of return.
CFO Dive
DECEMBER 14, 2023
Lawmakers pressed FASB and PCAOB leaders to explain how they’re approaching regulations in the wake of the recent bank and crypto crises.
PYMNTS
JUNE 8, 2020
United Nations global blockchain expert Massimo Buonomo has foreseen a future where digital currencies could replace low-interest bank accounts, Coindesk reports. In addition, Buonomo said digital currencies, especially central bank digital currencies (CBDC) may eventually be able to replace all bank accounts.
Strategic Treasurer
MARCH 20, 2023
Bank Fee Management Webinar Series: Bank Account Management and Structures May 16 and 17 Register Now Dates / Times Tuesday, May 16, 2023 11:00 AM – 11:30 AM EDT Wednesday, May 17, 2023 2:00 PM – 2:30 PM EDT Where This is an online event Speakers Jason Campbell, Strategic Treasurer Craig Jeffery, Strategic Treasurer Hosted By 0.6
Global Finance
SEPTEMBER 25, 2024
Susanne Prager, head of cash management at Raiffeisen Bank International (RBI), discusses the challenges affecting global banking services and the need for the latest tech tools to help companies succeed in CEE and around the world. Global Finance: What are the overall trends impacting international banking transactions?
CFO News
OCTOBER 19, 2023
India's state-owned 'bad bank,' National Asset Reconstruction Company Ltd (NARCL), has acquired three more accounts in the past two weeks, including Dharani Sugars and Chemicals, SPML Infra, and Parenteral Drugs. The finance ministry has urged NARCL to expedite the acquisition process.
CFO News
FEBRUARY 13, 2024
Bandhan Bank managing director Chandra Shekhar Ghosh has denied about any irregularity in those accounts and evergreening of loans.
CFO Simplified
OCTOBER 24, 2022
As a business owner, you must understand the importance of reconciling your accounts—and no, not just your checking accounts! Do you know what accounts you need to be reconciling regularly? Do You Know What Business Accounts You Must Reconcile? Your Checking Account Isn’t the Only Important Account!
CFO News
DECEMBER 28, 2023
Two British banks, a Swiss lender, and an Emirates institution severed ties with over two dozen Indians in the last two months. These individuals had initially opened accounts under the RBI's Liberalised Remittance Scheme (LRS), allowing up to $250,000 annual investment.
Global Finance
MAY 3, 2023
After disrupting most of the tech and digital world over the past few decades, Apple is now turning to the banking sector. The Cupertino, California-based iPhone maker recently teamed up with Goldman Sachs to launch a high-yield savings account, promising.
PYMNTS
FEBRUARY 20, 2020
As Open Banking spreads further into the small business (SMB) financial services market, accounting and lending platforms are taking advantage. bank sets its data sharing rules for FinTech firms. Simply Completes First Open Banking Funding. Plus, a major U.S. JPMorgan Sets FinTech Data Deadline. As the U.S. As the U.S.
Global Finance
OCTOBER 8, 2024
Global Finance magazine interviewed Philippines Central Bank Governor Eli Remolona, who earned an “A–” grade in the magazine’s 2024 Central Banker Report Cards. GF : The Philippines Central Bank (BSP) was the first major central bank in Asia to cut rates following the widespread regional post Covid-19 monetary tightening.
CFO Plans
SEPTEMBER 24, 2024
Comprehensive accounting solutions are the lifeboat, offering the essential tools and expertise to streamline financial operations. This post delves into how end-to-end accounting solutions can significantly enhance efficiency and drive growth for small businesses. This flexibility ensures that businesses only pay for what they need.
PYMNTS
MARCH 17, 2020
challenger bank Monzo has launched business bank accounts this week after a year-long trial period in which 2,500 customers got early access, according to a TechCrunch report. There will also be invoicing tools within the app and the ability to have multiple user accounts on the same app. 1 brand in the U.K.
FISPAN
JUNE 23, 2023
Bank feeds are a game-changer in financial workflows, offering seamless integration between accounting software and bank accounts.
PYMNTS
AUGUST 3, 2020
BBVA USA is collaborating with Google to offer consumers a digital bank account through Google Pay. The Alabama-based bank holding company said the partnership is key to its strategy? of growing the bank throughout the U.S. insured digital account will be built on BBVA’s infrastructure and powered by Google Pay.
Global Finance
JULY 16, 2024
Throughout its 30-year history, Converse Bank has been a trendsetter in Armenia. This began with it as the first bank since the country became independent to be set up with foreign investment – led by principal shareholder Eduardo Eurnekian, an Argentine-Armenian businessman. Being a pioneer seems to be in Converse Bank’s DNA.
PYMNTS
SEPTEMBER 17, 2020
Cloud-based clearing bank ClearBank has begun offering multi-currency bank accounts using an API, according to a press release. Beginning in the fourth quarter this year, the bank will allow users to access over 30 multi-currency accounts. ClearBank's capabilities make it doable for Oxbury Bank to loop into U.K.-based
PYMNTS
JULY 3, 2020
Accounts payable (AP) teams and other financial functions of the enterprise were some of the hardest hit by the disruption caused by the global pandemic. Collaborating with FinTechs is a valuable strategy for banks, noted Sigovitch. ” Offering the Right Tools.
PYMNTS
APRIL 21, 2020
The Royal Bank of Canada (RBC) is one such FI that recently rolled out digital government identity verification capabilities, allowing customers to verify their identities using its RBC mobile app. The technology is available at bank branches and remotely via mobile and its website. and 34 other countries. and 34 other countries.
CFO News
AUGUST 7, 2023
Indian banks have refrained from declaring overdue loan accounts as fraud as the Supreme Court’s decisions make it obligatory for lenders to provide borrowers an opportunity to represent themselves before naming accounts as fraud. The lenders have made provisions instead of declaring accounts as wilful defaults.
Global Finance
OCTOBER 14, 2024
The $644 billion-in-assets banking sector remains dominated by a few brick-and-mortar, multinational giants. BBVA México, Santander, and Banorte account for nearly 50% of the market, while Banamex, HSBC, Scotiabank and Inbursa contribute another 27%. Since we took over banking operations, usage has almost tripled,” he adds.
CFO News
MAY 8, 2023
The J&K Bank’s auditors said its employees availed loans from the bank to purchase the shares, but that was in violation of the Reserve Bank of India’s directions.
CFO News
MAY 10, 2023
Experts said since NPAs are low and further accretion of NPA is also declining so not declaring some accounts as fraud would not significantly impact banks' numbers.
Future CFO
JANUARY 22, 2024
The accounting industry is undergoing profound transformation due to rapid technological advancements across all sectors in the market. Changes from manual record-keeping to sophisticated software solutions has undeniably shifted the accounting landscape, bringing in an era of heightened efficiency and accuracy.
Future CFO
SEPTEMBER 10, 2024
Instant payments are expected to account for 22% of all non-cash transaction volumes by 2028 globally, according to the Capgemini Research Institute’s World Payments Report 2025. The continued surge in non-cash transactions is a watershed moment for banks and payment service providers.
CFO News
OCTOBER 5, 2023
Banks in India will not provide a personal hearing to companies before classifying them as 'fraud' accounts, but will re-evaluate the decision if legally challenged.
CFO News
SEPTEMBER 12, 2024
The Adani-Hindenburg controversy escalated as the US short seller alleged that Swiss authorities had frozen over $310 million in six bank accounts linked to the Adani Group, citing criminal court records.
Future CFO
AUGUST 14, 2024
AP (Accounts Payable) automation empowers organisations to regain control over their finances by automating tedious manual tasks that burn through staff time, such as line-item matching for invoices, payment reviews, and approvals, Sanford says.
CFO News
SEPTEMBER 14, 2023
The revised accounting norms for investment portfolio, which are effective from April 1, 2024, and are in line with the global financial reporting standards, are expected to enhance the quality of banks' financial reporting, as well as improve disclosures, say experts.
PYMNTS
JUNE 15, 2020
Digital accounting platform Receipt Bank has acquired analytics firm Xavier to help boost services for accountants and bookkeepers, according to a press release. The move comes in the wake of Receipt Bank’s Series C funding round, which raised $73 million in January.
PYMNTS
JANUARY 5, 2021
The problems from last spring's rollout are likely to reoccur in some ways, including households that have changed bank accounts, payments going to former spouses by mistake and some simply not getting the full amount of the payments, according to WSJ. 5), according to WSJ.
CFO Simplified
JULY 24, 2022
How Does a Fractional CFO Work with a Remote Accounting Team? But even with all of those changes, the accounting function has remained essentially the same. So, in a remote environment, which we’re all used to by now, how does a fractional CFO work with a remote accounting team? Managing a Remote Accounting Team.
PYMNTS
MARCH 17, 2020
One , a new digital banking service in the U.S., It combines credit and debit into one account, “making it seamless to save, spend and borrow money.”. Traditional banks cater mostly to affluent customers and new digital banks target younger individuals with simpler financial needs,” said Harris.
PYMNTS
JANUARY 26, 2021
marked its third anniversary of adopting its open banking framework, making it the leading market to drive the concept of unlocking customers’ bank account data for integration with third-party solution providers. where there is no open banking regulatory mandate. HashCash Brings Blockchain Tech To Unnamed Bank.
PYMNTS
JANUARY 22, 2020
Will India prove to be a model for open banking ? As for the mechanics: An “account aggregator” system is being created by banks, and will be regulated and licensed by the central bank. Banks and other financial firms, in turn, must be verified by the reserve bank.
Global Finance
AUGUST 1, 2024
Global Finance: How is digital banking changing Kuwait’s banking market? Among the most important developments introduced by the Central Bank of Kuwait are regulations to foster innovation in financial technologies and services. When we launched Msa3ed (Mosaed), we were the first bank in Kuwait with a digital assistant.
PYMNTS
SEPTEMBER 1, 2020
Plaid is doubling down on its push to connect banks to FinTechs and their customers with a new, instant account update feature. With that offering, banks and other financial institutions (FIs) can build out their own APIs, making it far easier to connect with FinTech app developers and firms and their growing legion of users.
The Charity CFO
MARCH 6, 2024
The conversation today has a very simple focus, 5 red flags that your nonprofit accounting needs improvement, even when it may not be recognized. Red Flag #1: Bank Account Reconciliation Whether the business is accrual or cash basis, it does not matter. Consider it like an internal audit and a necessity. Get the free guide!
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