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

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

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

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

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

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. When payments were in foreign currencies, this may have affected their results because of currency hedging. TMS), and shifted in time.

IFRS 130

IFRS Foreign Exchange Currencies Profit and Loss 130

Global Finance

OCTOBER 11, 2024

Along with the World’s Best Bank, global honors this year include awards for Best Corporate Bank, Best Consumer Bank, Best Banks Worldwide in Emerging and Frontier Markets and Best Sub-Custodian Bank. The bank is known for developing inaugural and subsequent green and social bonds for the European and Latin American markets.

Banking 111

Banking Foreign Exchange Profit and Loss Finance 111

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

AUGUST 11, 2020

Revolut attributed the losses to its expansion into new markets and the introduction of new products. 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 million) in 2019 — up from £32.9

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

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

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 75

Restructuring Foreign Exchange Banking Transportation 75

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., In another statement, J.P.Morgan Head of FIG Sales Europe Jon Lloyd pointed to the growing importance of APIs.

Banking 110

Banking B2B Foreign Exchange Currencies 110

PYMNTS

JUNE 22, 2020

Many businesses today see selling products in new markets as a growth opportunity. Expanding into a new market — even one as geographically close as Mexico, for example — would present a number of logistical hurdles that many businesses may not be equipped to handle. Appealing to a wider array of customers within the U.S.

Foreign Exchange 92

Foreign Exchange eCommerce Accounting Marketing 92

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

AUGUST 13, 2019

that has led to a depreciation of the pound are having widespread impacts throughout supply chains with touchpoints in the markets. 12) in Catering Insight showcased some of the foreign exchange hurdles businesses face as a result of that uncertainty. But that, he said, is also one of the largest challenges in this market.

Foreign Exchange 72

Foreign Exchange Accounts Payable Risk Management Reconciliations 72

CFO News Room

JANUARY 25, 2023

Policy rates were yanked to Zero Interest Rate Policy (ZIRP) levels, facilities were extended to provide liquidity to firms having difficulty selling securities in the primary and secondary markets, and direct lending to individuals and firms reached never-before-seen levels.

Economics 130

Economics Foreign Exchange Finance Banking 130

PYMNTS

JUNE 30, 2019

No doubt by now most payments watchers are familiar with Libra , the Facebook plan to bring a new global cryptocurrency to market that seemingly seeks to do nothing less than upend global banking. The FX market is efficient for “larger” or dominant currencies such as the euro or the U.S. markets seek to trade with one another.

B2B 109

B2B Currencies Foreign Exchange Transportation 109

PYMNTS

JANUARY 9, 2018

UnionPay International is expanding its support for cross-border B2B payments through an integration with wholesale eCommerce market Yiwu Market, based in China. Yiwu Market is the largest commodities wholesale market in the world. Yiwu Market is the largest commodities wholesale market in the world.

B2B 47

B2B Marketing Foreign Exchange eCommerce 47

Global Finance

OCTOBER 31, 2024

million in pretax profits in 2023, and a presence in 20 markets on the continent and four global centers—empowering SMEs means fueling Africa’s economic development. Its home market of Nigeria is a poster case. SMEs account for 16% of the bank’s business, or approximately $1.5 billion, giving Banreservas a 28% market share.

Banking 52

Banking Finance Construction Foreign Exchange 52

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

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

NOVEMBER 20, 2020

Whether that means establishing subsidiaries abroad, acquiring customers in new geographic markets, or stepping into a new space via mergers and acquisitions (M&A), even small companies are often global ones. Cross-Border Headaches. But at the end of the day, it always goes up to the parent entity.". "But

Mergers and Acquisitions (M&A) 61

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

PYMNTS

DECEMBER 17, 2019

As open banking frameworks take root in more markets around the globe, the model of data integration continues to also take shape in the business financial services market, particularly impacting micro- and small businesses (and the FinTechs that service them). “FX is a complicated area,” added Cran.

Marketing 52

Marketing Accounts Payable Foreign Exchange Invoicing 52

PYMNTS

AUGUST 14, 2020

Disruption is hitting both the B2C and B2B arenas, and while it would seem they are two opposite ends of the spectrum, these ecosystems share commonalities in the kinds of trends that force sellers to modernize their market strategies. Treasury is very well-positioned to handle all of these activities,” added Sinha.

eCommerce 118

eCommerce B2C Treasury B2B 118

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

AUGUST 21, 2020

Yet as cross border trade picks back up, the foreign exchange and global payments needs of businesses will intensify. FXPress entered the market with a focus on cross-border payments and foreign exchange services. FXPress entered the market with a focus on cross-border payments and foreign exchange services.

Finance 69

Finance Foreign Exchange Currencies Banking 69

PYMNTS

MARCH 15, 2016

Spain is a particularly attractive market for us, and we are excited to announce the opening of our office in Madrid,” said AFEX EMEA Sales Director Anthony Rea in a statement. percent increase in the value of exports stemming from the market last year, hitting a new high worth of more than $278 billion. Asia, Australia and Canada.

Foreign Exchange 41

Foreign Exchange Marketing Treasury Risk Management 41

PYMNTS

JULY 15, 2020

The global market has historically revolved around the U.S. dollar, leaving few incentives for companies to overcome the numerous obstacles and pain points involved in broadening business into new markets overseas. An alternative to this payment strategy is to open up a bank account in each market in which a business operates.

Foreign Exchange 67

Foreign Exchange Currencies Accounting Banking 67

PYMNTS

OCTOBER 9, 2019

8) that it will be able to issue virtual Mastercard cards in the United Arab Emirates following approval from the Central Bank of the UAE to operate in the market. WEX added that it will also be able to settle UAE dirhams without charging foreign exchange fees.

Accounts Payable 68

Accounts Payable Foreign Exchange B2B Accounting 68

Simply Treasury

SEPTEMBER 9, 2020

Today, not being of " investment grade " quality is an enormous handicap in the bank lending market. The bond market would appear to compensate for this lack, as do stock-market issues, although these are on the decline or still at an exceptionally low level, after a financial earthquake unique in the history of modern finance.

Cash Flow Forecasting 130

Cash Flow Forecasting Forecasting Treasury Budgeting 130

PYMNTS

NOVEMBER 16, 2020

The global trading markets are in flux, and it's not only the COVID-19 crisis influencing international supply chains. Ongoing trade wars and rising costs of doing business in certain markets have manufacturers and other businesses adjusting where they operate and with whom. A Shifting Market. Currency Conversion Headache.

Foreign Exchange 56

Foreign Exchange Currencies B2B Manufacturing 56

PYMNTS

SEPTEMBER 27, 2018

Domiciled in the European Union, Banking Circle specializes in providing global payment account transactions and foreign exchange services to financial institutions, including FinTechs, banks, acquirers, payment service providers, FX brokers, money transfer businesses, e-wallets, and alternative payment providers.

Banking 73

Banking Foreign Exchange B2B Technology 73

Global Finance

OCTOBER 10, 2024

The political turmoil fuelled a spike in inflation, which hit 11.66% in July amid fast-dwindling foreign exchange reserves. Riel stabilization has been achieved by prudent circulation management and foreign exchange market intervention, usually involving selling US dollars versus the domestic unit on the open market.

Benchmarking 98

Benchmarking Foreign Exchange Forecasting Economics 98

PYMNTS

DECEMBER 8, 2017

Payment Rails is making its official step into the cross-border payments market through the launch of its application program interface (API) and payment platform, the company said Thursday (Dec. Payments Rails is rewiring how business payments are sent around the world,” said the company’s co-founder and CEO Tim Nixon.

Foreign Exchange 78

Foreign Exchange Treasury B2B Compliance 78

PYMNTS

MARCH 19, 2020

FinTechs and banks continue to develop new solutions to address many of the biggest pain points of global business payments, from speed to foreign exchange. Even so, noted Jim McCarthy, president of i2c , no single player has quite cracked the code of cross-border B2B payments just yet – a testament to the complexity of this market.

B2B 95

B2B Foreign Exchange Accounts Payable Currencies 95

PYMNTS

DECEMBER 15, 2020

In B2B payments, added Visa Direct Vice President of Global Segments and Market Development Tim Summers , businesses don't care exactly how funds get from Point A to Point B, but the rails that facilitate the movement of funds must do so seamlessly. When we think about rails, we think about them as a means to an endpoint," he said.

Foreign Exchange 94

Foreign Exchange B2B Reconciliations Banking 94