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Today in B2B payments, Amazon takes advantage of cloud adoption with expanded call center functionality, while Sage collaborates on small business cash flow management. Meanwhile, Aareal Bank launches a new B2B payments platform, Cobase teams up for FX and eCapital acquires a commercial lender. 1) announcement.
With hundreds of billions of dollars changing hands each year, B2B banking and payments is a big, big deal. According to industry research, the B2B payments industry moves roughly $550 billion each year, making up roughly half of the $1.2 Enter the new PYMNTS.com B2B API Tracker™. trillion global payments market. .
Despite a generally positive outlook, foreignexchange risks remain. Forecasts from the US Federal Reserve signaling just one modest cut this year will have far-reaching implications on how US-headquartered corporations with Latin American subsidiaries manage their liquidity flows.
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. B2B eCommerce sales in the U.S. alone are expected to hit $1.2 trillion by 2021.
Travelex , part of the United Arab Emirates-based Finablr , is rolling out a FinTech business-to-business (B2B) platform called Travelex Business, IBS Intelligence reported on Tuesday (Sept. The new platform will feature an API-led platform to offer customers cashmanagement , cross-border payments and retail currency conversion.
Some of the biggest industry trends, including faster payments, open banking and bank-FinTech collaboration, have found their ways into the Canadian market, the B2B payments space is not immune to disruption from these shifts. Such visibility enables real-time analysis of risk exposures for more agile FX hedging and risk management.
From [foreignexchange (FX)] to money markets and beyond, we will be offering easy access to innovative products and services from trusted Fides partners.”.
Elsewhere in Europe, in the United Kingdom, Travelex has debuted a B2B FinTech platform known as Travelex Business. The company said that the API-led platform will let partners — including banks, retailers, credit unions and others — access payment and foreignexchange services through a single place.
Globalization and easing barriers to international expansion aren’t simply changing the way corporates manageforeignexchange exposure. is critical, said Descout, adding that integration and automation across back-office platforms is key to FX management solutions, too.
. “Business uptake of mobile payments is gathering significant pace, as the functionality and flexibility of this channel gains trust and acceptance in finance and treasury departments globally,” said HSBC Global Head of eCommerce, Global Liquidity and CashManagement Nadya Hijazi.
Corporate foreignexchange brokerage GPS Capital Markets is reportedly up for sale, unnamed sources told PE Hub. 8) that three unnamed sources revealed Citi is advising on the process as GPS, which provides foreignexchange services to mitigate FX risk for corporate clients, seeks a buyer.
Nexi’s partner banks will have the capacity to offer the complete suite of Ebury services to customers, which encompass foreignexchange (FX) risk management, import/export financing and global cashmanagement.
From the back-office bean counter to the overseer of cybersecurity and anti-money laundering (AML) compliance, the modern corporate treasury has undergone an extreme makeover in recent years that goes well beyond its historic roots in cashmanagement. According to J.P. The other is technological innovation.
In a week of multiple nine-figure venture capital funding rounds, B2B FinTech has proved it plans to end the year on a high note. Below, PYMNTS breaks down the more than $912 million raised by B2B FinTech firms this week. Automation Anywhere. Existing backers, such as Xavier Niel, also participated in the funding.
deals were also joined by B2B companies. The B2B FinTech space is making a name for itself among investors, researchers at Innovate Finance found. A breakdown of venture capital investment by verticals found that, together, data and analytics, wealth management, capital markets and payments made up 25 percent of all deals in the U.K.
Customers will be able to move funds "seamlessly" according to the release, and the foreignexchange pricing will be based on interbank rates. The bank says customers will be able to utilize "increased liquidity, improved visibility into cash flows, and greater control as the need to transfer funds to third party accounts is removed.".
Within that ambition, he said, “the only way to create real-time cashmanagement or trading is to allow all parties to see the same pool of validated data.”. In reference to supply chain management, he maintained that current systems are “disjointed, and often [involve] substantial delays.
In an interview with Karen Webster, Sairam Rangachari, global head of Digital Channels and Open Banking, Wholesale Payments at JPMorgan , said treasurers seeking to gain visibility into cashmanagement can find application programming interfaces (APIs) to be a useful (and even critical) tool. Age And Complexity.
The conversation also underscored the growing important of currency hedging, foreignexchange and risk management for businesses of all types. What are anxious corporate treasurers and cashmanagers to do? So, what is the state of the global economy these days? Meanwhile, the U.S. Strategy And Discipline.
One of the areas ready for real-time disruption is foreignexchange (FX) management, which is “the road to real-time treasury,” according to the report. Real-time payment capabilities enable businesses to take advantage of faster currency conversions and real-time FX rate management.
With that in mind, Agiasotis pointed to other aspects of the payments innovation space that should, perhaps, be getting a bit more attention from disruptors when it comes to B2B payments. If you think about the other friction points to doing trade internationally, it’s information exchange,” he said.
” In areas like foreignexchangemanagement, trade, and cashmanagement, working with FinTech third-party providers will be an important part of the digitization journey.
As a result, treasurers must grapple with the notion (and the needs) of cash crossing accounts many times a day. Cashmanagement becomes a continuous process, throughout the business day. Knowing where and how much cash there is across various legal entities, countries and currencies is crucial. on Friday, he said.
But there’s something happening in B2B payments today, says Seabury TFX CEO Robert Lin, that makes it especially hard for overseas manufacturers to bear the financial burden of launching operations. But there is more to helping out a supplier dealing with longer payment terms than simply fronting them cash to manage finances.
Treasury management system provider GTreasury announced it reached a deal to acquire risk management and compliance software company Visual Risk , reports in Mondo Visione said Tuesday (April 17). The companies will combine their risk analytics and hedge accounting software as well, they said. “We
Nearly 80 percent said the treasury department plays the lead role in long-term borrowing activity, for example, while more than half also said their treasurers take the lead on long-term investments, payment strategies, and working capital management. The role of corporate treasurer now expands beyond handling foreignexchange volatility.
Business owners may be experts in their particular industries, but that doesn’t mean they’re always familiar with some of the back-end processes of running a company, like cashmanagement and investing. But there’s more than foreignexchange to a cross-border investment deal. That’s where SMERGERS comes in.
The most obvious is foreignexchange, the cost to sell and buy another currency. This also means that cashmanagement and account maintenance can save FIs up to 74 percent, the company calculated. Cost-Saving Opportunities . There are some aspects that won’t change for banks, however.
According to SWIFT, the capability focuses on boosting transparency of foreignexchange and other fees for payers while promoting ubiquity by operating a real-time payments service on existing rails. Payments messaging firm SWIFT announced Monday (Sept. It’s also new players in the market.
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