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.

Currencies 64

Currencies Accounting Banking Foreign Exchange 64

PYMNTS

JANUARY 18, 2021

Companies that have long been involved in importing or exporting goods — especially those with international operations — identify foreign exchange (FX) management to be a major source of risk, given the large fluctuations in exchange rates.

Foreign Exchange 127

Foreign Exchange Treasury Risk Management Corporate Finance 127

PYMNTS

AUGUST 6, 2020

“We are leaving behind siloed accounts and manual transactions and building towards fully automated and point-to-point money movement,” CEO and Founder Stephany Kirkpatrick said in a statement. Accounts payable (AP) and receivable (AR) technology firm Bottomline Technologies announced its open banking-powered service in the U.K.

Banking 110

Banking Foreign Exchange Accounts Payable Technology 110

Simply Treasury

JUNE 3, 2021

Delay in FX hedging, accounting treatment. The accounting treatment of currency hedging (timing) mismatches remains a major problem that has become more acute in the wake of the health crisis. Accounting consequences of hedging adjustments. TMS), and shifted in time. But the amount initially accumulated in OCI/EHR (i.e.,

IFRS 130

IFRS Foreign Exchange Currencies Profit and Loss 130

PYMNTS

AUGUST 11, 2020

In a move that lets small businesses take card payments and monitor income, accounting platform Clear Books has integrated with Stripe. The connection enables small businesses with a Clear Books account to take invoice payments by credit and debit card, according to an announcement.

Accounting 65

Accounting Foreign Exchange Invoicing Currencies 65

PYMNTS

JANUARY 21, 2020

Cross-border peer-to-peer (P2P) payments firm MoneyGram has teamed up with foreign exchange and global money transfer company LuLu Money , MoneyGram announced on Tuesday (Jan. Remittance disbursements to East Asia and the Pacific account for $149 billion and are anticipated to go up in the future, per MoneyGram’s statement.

Foreign Exchange 100

Foreign Exchange Investments Accounting Marketing 100

PYMNTS

JUNE 11, 2020

By using Currencycloud Spark, TranSwap will be able to offer the Global Borderless Virtual Account (GBVA) to customers, enabling funds to be held in 34 currencies and allowing more flexibility for cross-border payment solutions, through being able to convert a company’s funds to other currencies.

B2B 99

B2B Foreign Exchange Currencies Accounting 99

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. In a press release issued Monday (Oct.

Foreign Exchange 76

Foreign Exchange Banking Currencies Compliance 76

PYMNTS

JULY 10, 2019

The service automatically extracts data from invoices, PDFs and other trade documents and automates accounts payable while storing payables information for reconciliation and accounting. The invoice processing solution augments Cambridge Global Payments’ existing offering of global payments and foreign exchange management solutions.

Foreign Exchange 64

Foreign Exchange Accounts Payable Invoicing Reconciliations 64

PYMNTS

MARCH 26, 2020

A card is used for payouts into any bank account, digital wallet or agent locations supported by Western Union. Western Union will use Integral’s technology for its electronic foreign exchange (eFX) risk management technology across the Western Union Business Solutions program.

Foreign Exchange 114

Foreign Exchange Currencies Risk Management Technology 114

PYMNTS

SEPTEMBER 21, 2020

billion, and FLEETCOR has come to an arrangement to purchase cross-border payment company Associated Foreign Exchange (AFEX). Global business payments firm FLEETCOR has struck a deal to buy Associated Foreign Exchange (AFEX) to assist in bolstering its own payments network.

Foreign Exchange 89

Foreign Exchange Banking Nonprofit Valuation 89

CFO News

SEPTEMBER 28, 2023

India's current account deficit (CAD) widened to $9.2 India's foreign exchange reserves increased by $24.4 billion, and net foreign direct investment decreased to $5.1 billion in Q1FY24, equivalent to 1.1% of GDP on a sequential basis. Yet it narrowed on a YoY basis, compared to $17.9 billion in Q1FY23.

Foreign Exchange 52

Foreign Exchange Accounting Investments 52

PYMNTS

JULY 24, 2020

Founded in 2015, Revolut began by offering prepaid debit cards that allowed users to avoid foreign exchange fees while traveling abroad. Revolut is an app-based consumer bank account that allows customers to send and receive money and use built-in budgeting tools. It boasts more than 12 million customers.

Startups 102

Startups Foreign Exchange Valuation Invoicing 102

PYMNTS

AUGUST 11, 2020

Founded in 2015, Revolut began by offering prepaid debit cards that allowed users to avoid foreign exchange fees while traveling abroad. The FinTech’s app-based bank accounts allow customers to send and receive money and use other consumer-oriented features. The FinTech has since expanded to offer business banking.

Profit and Loss 95

Profit and Loss Foreign Exchange Startups Banking 95

PYMNTS

DECEMBER 10, 2020

The financial institution or corporate client gets transparency into fees and foreign exchange rates as well as visibility of payment settlement. 10) press release. Customers can make payments via Bank of America’s SWIFT gpi solution. and Ireland at SWIFT. .

Foreign Exchange 104

Foreign Exchange Banking Treasury Compliance 104

PYMNTS

SEPTEMBER 18, 2020

In today’s top news in digital-first banking, ClearBank has begun offering multicurrency bank accounts through an application programming interface (API), and LoanDepot is considering going public. ClearBank Introduces Multicurrency Bank Accounts. Plus, EVO Payments Inc. has rolled out EVO Express Deposit push payments technology.

Accounting 57

Accounting Banking Foreign Exchange B2B 57

CS Lucas

APRIL 28, 2023

This article will cover the information exchanged between CS Lucas and the accounting (Enterprise Resource Planning) system, as well as the methods employed to facilitate this exchange. CS Lucas provides users with the flexibility to choose from various accounting treatments, which are specified in the user guide [ [link] ].

Accounting 52

Accounting General Ledger Accounts Payable Foreign Exchange 52

Future CFO

APRIL 10, 2022

The 2022 PwC CBDC Global Index analyzes and ranks the leading retail and wholesale CBDC projects, according to PwC, adding that the Index evaluates the current stage of CBDC project development also taking into account central bank opinion and public interest.

Foreign Exchange 98

Foreign Exchange Currencies Retail Banking 98

Global Finance

OCTOBER 10, 2024

GF: Mongolia’s foreign exchange reserves increased last year and external debt was reduced. Lkhagvasuren: As of July 2024, Mongolia’s foreign exchange reserves reached $4.7 Lkhagvasuren: As of July 2024, Mongolia’s foreign exchange reserves reached $4.7 million, reflecting a 23.8% million, reflecting a 23.8%

Restructuring 74

Restructuring Foreign Exchange Banking Transportation 74

Global Finance

JULY 26, 2024

Embedded finance features include global payments, virtual accounts (VAs), and account management. Meanwhile, Nordea’s foreign exchange (FX) automation has evolved into a “comprehensive treasury management autopilot” that includes daily FX, FX hedging, and money market products, according to the bank.

Cash Management 98

Cash Management Treasury Foreign Exchange Banking 98

Global Finance

OCTOBER 11, 2024

Previously announced honors include Best Global Transaction Bank, Best Bank for Sustainable Finance, Best Islamic Financial Institution, Best Investment Bank, Best Cash Management Bank, Best Trade-Finance providers, Best Supply Chain Finance providers, Best Foreign Exchange Provider, Best Private Bank, and Best SME Bank.

Banking 105

Banking Foreign Exchange Profit and Loss Finance 105

PYMNTS

JULY 9, 2019

This lack of insight into intercompany accounts can result in misstated financials, fraud and, overall, a lack of understanding into cash positions and allocations. The tool lets treasurers keep a single account for each currency, for example, or to group accounts based on product line or legal entity. Open Banking Opportunity.

Foreign Exchange 60

Foreign Exchange Banking Currencies Accounting 60

PYMNTS

OCTOBER 6, 2020

The new APIs help with foreign exchange (FX) settlement, obtaining check images and retrieving reports, according to a Tuesday (Oct. In addition, customers can now obtain multiple pictures of checks that have been posted to their accounts to help with account reconciliation with the check image retrieval API.

Treasury 75

Treasury Foreign Exchange Banking Reconciliations 75

PYMNTS

NOVEMBER 17, 2020

Cambridge Global Payments , a FLEETCOR firm, and Beanworks Solutions are continuing their collaboration to bring together solutions and offer a full accounts payable (AP) offering to clients, which can streamline their payable workflow spanning between buying and payment for firms that have international business, according to a Tuesday (Nov.

Accounts Payable 84

Accounts Payable Foreign Exchange B2B Invoicing 84

PYMNTS

SEPTEMBER 22, 2020

ClearBank Dives Into Multicurrency Accounts Via API. clearing bank ClearBank is introducing multicurrency bank accounts for businesses to move funds based on foreign exchange prices in real time. In the U.K.,

Banking 110

Banking B2B Foreign Exchange Currencies 110

PYMNTS

SEPTEMBER 18, 2020

Anecdotes abound, of course, in the popular music industry of artists who had huge hits — and rarely saw much cash flow, as royalties were siphoned off by others, or simply never made it into the right accounts. Or accountants did not do much accounting.

Foreign Exchange 125

Foreign Exchange Accounting Investments Manufacturing 125

PYMNTS

FEBRUARY 2, 2021

At a high level, the solutions can be harnessed to help consumers manage their finances in real time, quickening the time it takes for accounts to settle. Greater transparency translates into less confusion on the part of account holders, with the positive ripple effect that comes from having fewer calls into call centers.

Forecasting 111

Forecasting Foreign Exchange Leverage Treasury 111

PYMNTS

SEPTEMBER 14, 2018

Foreign exchange solutions company OFX is expanding its services in the U.K. 13) that its Global Currency Account is now available to importers and exporters in the U.K. According to OFX, businesses buying and selling internationally would typically have to open bank accounts in multiple jurisdictions.

Accounting 40

Accounting Foreign Exchange Currencies eCommerce 40

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

DECEMBER 9, 2020

Key features include the aforementioned fully digital business accounts, along with quick application processing, according to the release. Alex Cheung, managing director and head of Institutional Banking Group at DBS Hong Kong, said the 340,000 SMBs in Hong Kong account for "more than 98 percent of the total business community" there.

Foreign Exchange 64

Foreign Exchange Banking Finance Accounting 64

PYMNTS

MARCH 16, 2020

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

MARCH 26, 2019

Globalization and easing barriers to international expansion aren’t simply changing the way corporates manage foreign exchange exposure. Traditionally, however, multi-currency accounts are often opened within silos, unable to integrate and communicate with each other, or other cash management systems.

Foreign Exchange 69

Foreign Exchange Currencies Cash Management Profit and Loss 69

PYMNTS

MAY 19, 2020

BlockFi said it was “able to confirm that no funds, passwords, social security numbers, tax identification numbers, passports, licenses, bank account information, nor similar non-public identification information was exposed as a result of this incident.”.

Foreign Exchange 84

Foreign Exchange Currencies Securities Numbers 84

PYMNTS

JUNE 17, 2019

MoneyGram has tapped into foreign exchange markets for settlements in the past. In addition, the deal encompasses warrants for up to $20 million in additional stock that is newly issued at $4.10 a share as well at the discretion of MoneyGram. As a result, the company had to purchase currencies ahead of time regularly.

Investments 84

Investments Foreign Exchange Planning Currencies 84

PYMNTS

JUNE 22, 2020

It would also have to find a way to ensure that its payments processes are compliant with the country’s regulatory requirements and that the process accounts for the cost of foreign exchange (FX) rates. This underscores the nuances that must be taken into account when tailoring payments experiences to local audiences.

Foreign Exchange 92

Foreign Exchange eCommerce Accounting Marketing 92

PYMNTS

NOVEMBER 20, 2020

While expanding internationally is the easy part, the challenge often comes in the back-office financials like invoicing , cross-border payments, accounting and reconciliation. Sameer Gulati , founder and CEO of Ordway , said this is an acute pain point that continues to grow as more small- to medium-sized businesses ( SMBs ) scale abroad.

Mergers and Acquisitions (M&A) 61

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

PYMNTS

NOVEMBER 12, 2020

It may be an open road for open banking as, three years after the rollout of the second Payment Services Directive (PSD2), bank-FinTech collaborations and new initiatives unlocking bank account data continue to flourish. But it may not always be smooth sailing ahead. business customers, the FIs revealed.

Banking 88

Banking Treasury Foreign Exchange Risk Analysis 88