CFO News

SEPTEMBER 20, 2024

The RBI's foreign-exchange reserves have increased significantly, drawing in foreign investment and reducing the current account deficit. RBI Governor Shaktikanta Das has achieved a balance between stabilising the rupee and letting it weaken to support India's export goals.

Foreign Exchange 40

Foreign Exchange Currencies Economics Investments 40

PYMNTS

NOVEMBER 3, 2020

This new financing will help us to accelerate the development of the company both in terms of products, with the addition of local currency accounts, payment card, integration with accounting software, and geographically, as we will target new markets in South-East Asia,” Statrys Founder and CEO Bertrand Theaud said in the announcement.

Foreign Exchange 105

Foreign Exchange Currencies Finance Accounting 105

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

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 107

Banking Foreign Exchange Profit and Loss Finance 107

CFO News

AUGUST 12, 2024

Indian API industry players faced considerable volatility in earnings over FY2021-FY2023 on account of multiple headwinds such as rising raw material costs due to elevated crude oil prices and pandemic-induced lockdowns in China, resulting in a shortage of key starting materials (KSMs) and APIs globally, inflationary pressures and increased energy (..)

Foreign Exchange 40

Foreign Exchange Accounting 40

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 111

Cash Management Treasury Foreign Exchange Banking 111

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 Foreign Exchange Banking B2B 57

CFO News

OCTOBER 2, 2023

Kumar also highlights the positive macroeconomic situation, including manageable current account deficit, sufficient foreign exchange reserves, and increased tax revenues. He believes that India needs to achieve 8% economic growth to meet the aspirations of its young population and generate sufficient jobs.

Foreign Exchange 52

Foreign Exchange Economics Accounting 52

PYMNTS

FEBRUARY 4, 2020

Visa has announced that it will sell cross-border payments company Earthport’s foreign exchange (FX) business to Pollen Street Capital’s Currency Holdings, according to a report. Visa, which acquired Earthport in May 2019, said the sale will help to speed up Earthport’s growth of its larger core payments business.

Foreign Exchange 100

Foreign Exchange Treasury Currencies B2B 100

CFO News

JUNE 28, 2023

The finance ministry on May 16 scrapped Rule 7 of the Foreign Exchange Management (Current Account Transactions) Rules, 2000, which kept international credit card spends out of the LRS ambit. Banks and the Reserve Bank had flagged the difficulty in executing the TCS regime on credit cards to the government.

Foreign Exchange 52

Foreign Exchange Finance Banking Accounting 52

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

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

Future CFO

OCTOBER 29, 2023

Financial reporting specialist and lecturer Adam Deller explains the basic principles of IAS 21, The Effects of Changes in Foreign Exchange Rates The post The fundamentals of IAS 21 appeared first on FutureCFO.

Foreign Exchange 52

Foreign Exchange Financial Reporting Accounting Standards Accounting 52

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

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

PYMNTS

AUGUST 22, 2018

is expanding the Sapphire credit card brand into new areas of personal finance, including checking accounts. According to a report in Reuters citing the company, the bank will change the Chase Premier Platinum accounts to Sapphire Banking accounts. Chase Premier Platinum accounts have a $75,000 minimum for deposits.

Accounting 40

Accounting Foreign Exchange Entertainment Banking 40

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

CFO Leadership

FEBRUARY 16, 2022

Use our guide to understand and explore the factors that can make it advantageous to embrace a risk management strategy for foreign exchange. The foreign exchange market can be a highly complex task for small-to-medium enterprises to navigate when conducting business overseas. The Foreign Exchange Market.

Risk Management 52

Risk Management Currencies Foreign Exchange Valuation 52

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

SEPTEMBER 20, 2020

FLEETCOR , which works in global business payments, announced that it had reached an agreement to acquire cross-border payment firm Associated Foreign Exchange (AFEX) to help boost its own payments network, a press release says. The company normally focuses on providing international accounts to businesses underserved by banks.

Foreign Exchange 121

Foreign Exchange Currencies Accounting Investments 121

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

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

Creative CFP

OCTOBER 2, 2020

A couple of years into my career as a chartered accountant I started to wonder if I was still enjoying working in the finance industry. I was so consumed with day-to-day accounting tasks that I did not have time to monitor the financial health of businesses I was taking care of, or to provide valuable feedback to business owners.

Accounting 52

Accounting Finance Cash Flow Forecasting General Ledger 52

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

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

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

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

Future CFO

DECEMBER 12, 2023

Having taken account of a range of influencing factors, including airline capacity, local inflation, foreign exchange, and fuel surcharges, Amex GB T noted that airfare fluctuations reveal mixed trends across all regions—with a broad outlook of increased price stability in 2024 .

Forecasting 52

Forecasting Foreign Exchange B2B Accounting 52

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

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

SEPTEMBER 23, 2020

They can spend funds kept in their PayPal accounts at more than 52 million Mastercard acceptance locations globally. The debit card doesn’t have foreign exchange fees or monthly charges, while it has a flat ATM fee of 2 euros ($2.34) globally. Small businesses can have immediate access to their PayPal funds and unlimited 0.5

Foreign Exchange 145

Foreign Exchange Economics Retail Accounting 145

Planful

SEPTEMBER 14, 2021

5 discussions of finance and accounting techniques. These keynotes, hands-on sessions, stories, chats, and trainings—by and for finance and accounting professionals—served as a fitting kickoff to this two-day online conference. These sessions focused on everyday finance and accounting tasks from a fresh perspective.

Financial Planning and Analysis (FP&A) 40

Financial Planning and Analysis (FP&A) Accounting Finance Planning 40

PYMNTS

NOVEMBER 16, 2020

One of the biggest challenges in cross-border trade for any kind of business relates to foreign exchange. Traditionally, a means of mitigating this challenge is for a business to open a local bank account in each jurisdiction in which it operates. They didn’t have the possibility to open an account with a traditional bank.”.

Foreign Exchange 56

Foreign Exchange Currencies Manufacturing B2B 56

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

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

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

The Finance Weekly

OCTOBER 30, 2024

One of the major trends in this space is the ability to connect bank accounts seamlessly, providing real-time visibility into your financial status. Known for its advanced features, Datarails offers a seamless experience by connecting directly with your existing bank accounts, providing real-time visibility into your finances.

Cash Management 52

Cash Management Cash Flow Forecasting Reconciliations Forecasting 52