PYMNTS

MAY 21, 2020

The tipping point might be nigh for digital dollars and other central bank-issued currencies done through bits and bytes. Patent and Trademark Office that would create a digital currency underpinned by blockchain technology. A central entity may be a central bank which regulates a monetary supply,” the company wrote. “A

Currencies 97

Currencies Banking Retail Accounting 97

PYMNTS

DECEMBER 26, 2019

The Central Bank of the Bahamas is planning to start a rollout of its new digital currency on Friday (Dec. Called Project Sand Dollar, the name of the currency will also be the sand dollar, according to a press release. The intent is to start a fully-fledged central bank digital currency (CBDC). 27) in Exuma.

Currencies 83

Currencies Banking Retail Accounting 83

PYMNTS

APRIL 14, 2020

One of China’s state-owned banks has a mobile test app that supports the country’s central bank digital currency, according to a CoinDesk report. Screenshots of an app developed by the Agricultural Bank of China (ABC) for mobile phones was spotted on WeChat Tuesday (April 14).

Currencies 79

Currencies Banking Accounting 79

PYMNTS

JANUARY 6, 2021

Thus far, the numbers do not bear out a massive uptake of a business model, that for the stakeholders, is essentially free (There are roughly 38 banks signed on and 5 million users of CoDi, as measured in late 2020). Banks generate more business by enabling payments for merchants. Solving For The Chicken And Egg Problem.

Banking 145

Banking Planning Accounting Currencies 145

PYMNTS

JUNE 17, 2020

A growing number of nations are looking to develop digital versions of their currencies, and now there might be regional initiatives taking shape to target the U.S. The publication said China would back the new digital currency with a basket consisting of the Chinese yuan, Japanese yen, Hong Kong dollar and the South Korean won.

Currencies 89

Currencies Banking Accounting Numbers 89

PYMNTS

JANUARY 20, 2020

Add Australia to the list of countries with central banks looking to bring fiat currencies into the digital realm — with some conditions attached. A CBDC would be denominated in the sovereign currency, and convertible at par with other forms of money.”. . … The language is interesting — and noteworthy. The Rewards.

Currencies 87

Currencies Retail Banking Financial Systems 87

PYMNTS

OCTOBER 9, 2020

In terms of collaboration, as noted in this space, the Federal Reserve is working in collaboration with seven other central banks and the Bank for International Settlements (BIS) to bring together a framework that would smooth the path to digital currency issuance. The Federal Reserve Bank has been exploring a digital currency.

Currencies 70

Currencies Banking Retail Securities 70

PYMNTS

APRIL 29, 2020

But proponents of the technology argue that crypto is not only here to stay, but it will one day become a vital part of the overall payments and financial services ecosystem — so it’s essential that these companies receive adequate banking services today to prepare for the future. Conflicting Needs. As Karalevi?ius

Banking 113

Banking Compliance Currencies B2B 113

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?

Banking 98

Banking Cash Management Compliance Currencies 98

CFO Talks

APRIL 5, 2023

Written by Leigh Schaler In a recent interview on the CFOTalks podcast, Zebediah Marewangepo a Senior Business Consultant at Taxdirect, shared his insights on the accounting profession in Zimbabwe and South Africa. but somewhere along the line I ended up doing accountancy and I then finished college in 1994.

Accounting 94

Accounting Problem Solving Compliance Currencies 94

PYMNTS

SEPTEMBER 29, 2020

Blanco , director of the Financial Crimes Enforcement Network ( FinCEN ), said banks need to be wary of risks with cryptocurrency, according to remarks planned to be given at the ACAMS AML (anti-money laundering) virtual conference on Tuesday (Sept. Blanco said the organization is looking at mitigating risks with virtual currencies.

Banking 103

Banking Currencies Accounting Planning 103

PYMNTS

SEPTEMBER 22, 2020

No longer is open banking solely for consolidating financial information into a single platform for one end user. Acumatica Links Its ERP Into Bank Data. Integrated into its ERP solution, the new feature links electronic banking fees to corporate card spend, allowing for automated receipt creation. In the U.K.,

Banking 110

Banking B2B Foreign Exchange Currencies 110

PYMNTS

OCTOBER 7, 2020

Oracle Banking Payments announced Wednesday (Oct. 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. “We The subsidiary of Oracle Corp.

Currencies 145

Currencies Banking Accounting Securities 145

PYMNTS

NOVEMBER 20, 2019

Citi noted traditional methods of cross-border accounts receivable are inefficient, involving multiple collections service providers with silos between invoicing, collection and reconciliation. Earlier this year Citi said it would be preparing for an uptick in corporate banking operations despite concerns about an economic slowdown.

Accounting 83

Accounting Reconciliations Invoicing Currencies 83

Spreadym

OCTOBER 20, 2023

A multi-currency account reporting refers to the financial reporting and tracking of transactions in multiple currencies within a single account or financial system. Here's how it works: Multiple Currency Support: In a multi-currency account, you can hold balances in different currencies simultaneously.

Currencies 52

Currencies Accounting Risk Management Compliance 52

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.

Banking 98

Banking Currencies Leverage Accounting 98

PYMNTS

AUGUST 30, 2020

One of the four largest Chinese banks swiftly disabled its new soft launch for a digital yuan wallet after its quiet rollout got mass attention, according to CoinDesk. Users of the China Construction Bank (CCB) began to notice the digital wallet feature, added suddenly and without fanfare to the mobile app.

Banking 95

Banking Construction Currencies Retail 95

Global Finance

OCTOBER 11, 2024

Global Finance presents its 31st annual list of best banks worldwide. Banks face an uphill battle as supply chains remain disrupted, regional conflicts continue to build, and the fear of bank failure returns. Industry leadership, advancements in digitalization and corporate citizenship also factored in.

Banking 105

Banking Foreign Exchange Profit and Loss Finance 105

PYMNTS

SEPTEMBER 21, 2020

The Office of the Comptroller of the Currency (OCC) released a letter that explained the authority of federal savings associations and national banks to keep “reserves” for clients who are issuers of stablecoins in some cases, according to a Monday (Sept. Acting Comptroller of the Currency Brian P. 21) press release.

Currencies 68

Currencies Banking Education Accounting 68

PYMNTS

JANUARY 15, 2021

15) announced that it is assessing a $390 million penalty against Capital One for engaging in what it says are “both willful and negligent violations” of the Bank Secrecy Act (BSA). The statement from FinCEN said Capital One established the Check Cashing Group as a business unit within its commercial bank in 2008. financial system.”.

Banking 107

Banking Compliance Currencies Financial Systems 107

PYMNTS

SEPTEMBER 5, 2019

In China, the central bank will debut a state-backed cryptocurrency that initially will be issued to seven institutions in that country, Forbes reported this week. The news comes from Paul Schulte, who was head of financial strategy for China Construction Bank. It will be the first central bank to do so.”. Crypto in Brazil.

Banking 98

Banking Currencies Construction Startups 98

PYMNTS

NOVEMBER 23, 2020

HSBC is introducing a new real-time payments tool that will enable its 14 million international customers to transfer funds through a single account in 20 countries around the globe. “As The new platform gives users the ability to send money from any HSBC account in real time and get preferential FX rates. .

Treasury 140

Treasury Currencies Banking Accounting 140

PYMNTS

SEPTEMBER 13, 2019

With aspirations to make projects like Facebook ’s Libra redundant, euro zone central banks and governments are at work on a plan to roll out a public cryptocurrency. Work on the European Central Bank (ECB) project began prior to Libra’s rollout and could last months or years.

Currencies 78

Currencies Planning Banking Accounting 78

PYMNTS

OCTOBER 18, 2018

In July, reports in the Financial Times said Switzerland is working to open the nation’s traditional corporate banking market to cryptocurrency companies finding it difficult to get banked, thanks to fears over anti-money laundering (AML) violations and other compliance issues. “Time is pressing,” he said.

Banking 85

Banking Planning Currencies Startups 85

Cube Software

JUNE 12, 2023

What is a multi-currency account? Multi-currency accounts, sometimes called foreign currency accounts, are special bank accounts that allow users to send and receive payments across currencies from multiple countries.

Currencies 52

Currencies Accounting Banking 52

PYMNTS

OCTOBER 6, 2020

In Europe, the great digital shift is spurring traditional banks to play a bit of catch-up. Lilia Metodieva , managing director at Monneo , told PYMNTS platforms that link solution providers, partners, banks and merchants together can help speed that pivot toward eCommerce with agility as consumer buying patterns remain fluid — and digital.

eCommerce 94

eCommerce Banking Compliance Currencies 94

PYMNTS

OCTOBER 14, 2020

"Unlike solutions on the market today that only offer a handful of ERP integrations and require a manual intervention to complete a payment, RegalPay One offers a bank-branded platform that connects directly to their corporate customers' ERP system," Ed Wertzberger , vice president of solution delivery for Regal Software, said in the announcement.

B2B 82

B2B Banking Accounts Payable Reconciliations 82

PYMNTS

DECEMBER 10, 2020

Bank of America (BofA) is introducing a cross-border payment tracker and expanding SWIFT gpi to support more than 140 currencies, accessible through the integrated CashPro platform. Customers can make payments via Bank of America’s SWIFT gpi solution. 10) press release. “Our 10) press release. and Ireland at SWIFT. .

Foreign Exchange 104

Foreign Exchange Banking Treasury Compliance 104

CFO News Room

NOVEMBER 13, 2022

A central bank digital currency (CBDC) is a digital currency issued by a central bank. It is important to distinguish between digital currency and a digital claim to a currency. Commercial banks offer digital claims to a currency in the form of checking account balances.

Currencies 130

Currencies Economics Banking Treasury 130

PYMNTS

JANUARY 23, 2020

The acceleration of the movement of money is likely to have significant implications for how organizations of all kinds – particularly banks and financial institutions (FIs) manage liquidity. Indeed, faster payments can support banks’ need to get cash where it needs to go in a timely manner. Real-Time Predictability.

Banking 96

Banking Treasury Currencies Accounting 96

PYMNTS

NOVEMBER 30, 2020

Digital banking firm Emirates National Bank Dubai (Emirates NBD) has rolled out its new businessONLINE platform, a new omnichannel platform for small businesses, a report from NSBanking.com says. The aggregation model works to provide advice for clients on business requirements to help enact a one-stop shop for banking products.

Banking 86

Banking SAP Currencies Technology 86

CFO News Room

FEBRUARY 5, 2022

The Finance Bill, 2022 proposes amending the RBI Act, 1934 to modify the definition of a bank note to cover digital notes issued by the central bank. The Reserve Bank of India ( RBI ) will introduce a digital rupee in the next financial year beginning April 2022 subsequent to amendments proposed in the Finance Bill, 2022.

Budgeting 130

Budgeting Currencies Finance Banking 130

PYMNTS

FEBRUARY 28, 2020

As such, B2B FinTech firms continue to embrace collaboration and data integration between each other, particularly as the financial services world at large continues its migration toward unlocking data in an Open Banking framework. Going Further With Open Banking. Cichy said he sees the opposite happening today, though.

Accounts Payable 83

Accounts Payable Banking Invoicing B2B 83

PYMNTS

JANUARY 21, 2021

based bank to help them finance their corporate trade owing to a sophisticated blockchain platform for B2B payments, a press release says. With HashCash's solutions, the USA -based bank can protect their data through encryption and blockchain immutability," he said, according to the release.

Banking 93

Banking Reconciliations B2B Education 93

PYMNTS

OCTOBER 14, 2020

The head of the country’s only licensed and publicly traded cryptocurrency broker says tighter regulation and exponentially higher yields are causing corporate treasury and cash management accounts to seriously consider this alternative asset class. This in the wake of the OCC’s Sept. Ehrlich said stablecoins, including the U.S.

Treasury 129

Treasury Currencies Cash Management Benchmarking 129

PYMNTS

DECEMBER 18, 2020

18) that the government says would make convertible digital currencies like bitcoin less attractive to criminals engaging in crimes such as ransomware attacks. CVC" stands for "convertible virtual currency" – a category of digital products that can serve as currency. Bitcoin is a popular example.

Treasury 141

Treasury Currencies Securities Banking 141

The Finance Weekly

DECEMBER 1, 2024

Let’s talk about something every business owner and accountant deals with— account reconciliation. If you’ve ever wondered what account reconciliation is all about or how to do it effectively, this guide has got you covered. What Is Account Reconciliation? Bank Reconciliation This is the most common type.

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Reconciliations Accounting General Ledger Invoicing 52