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IKB Deutsche Industriebank AG , which works in lending and public loans, will work with Hypoport subsidiary and corporatefinance platform fundingport on corporatefinance improvements, according to a press release. Corporatefinance has shifted during the pandemic.
There are a lot of moving parts in B2B payments that are keeping corporatefinance executives busy as they work to modernize and optimize their operations. In 2020, many of the biggest pain points in B2B payments were revealed, particularly when transactions move across border. But it's an end-to-end workflow.".
But analysts warn that accountants and corporatefinance professionals cannot simply go with the status quo. “Automation, mini-bots, machine learning and adaptive intelligence are becoming part of the finance team at lightning speed,” concluded analysis from Accenture, reports in Forbes said last year. .
Corporatefinance teams were not simply tasked with finding ways to continue operations in a remote work environment as a result of the coronavirus crisis. The Biggest Pain Points, Revealed.
As the peaks and valleys of blockchain hype continue to rise and fall, more doubt has surfaced over the future of distributed ledger technology, particularly in the area of B2B payments. Analysts point to the challenges associated with adoption and implementation of blockchain-powered B2B payment solutions as a key hurdle for the technology.
There are three new features — Intelligent Collections, Intelligent Vendor Management and Intelligent Planning — which are intended to remove time-wasting steps and friction and improve cash flow for corporatefinance teams, the release stated.
Prophix is another company that recently rolled out its own addition to the B2B virtual assistant space, having launched its Virtual Financial Analyst for middle-market finance departments. But there’s another benefit in how virtual assistant technology can impact corporatefinance, Ajmera explained. Balancing Risks.
The corporatefinance space is in flux, but how it’s changing depends on the market in which you stand. PYMNTS takes a quick trip across the globe to explore business finance trends in the U.K., Middle East and Asia and discovers new winners in enterprise SaaS, losers in small business banking and more.
Artificial intelligence adoption continues to grow in the corporate world, and as businesses look to broaden margins, save money and drive strategic operations, the finance department is a prime target for AI-powered solutions. Corporate performance management software company Prophix announced Tuesday (Sept.
This week’s B2B Venture Capital roundup shows FIs are placing funding with their FinTech partners, too, including Nationwide and HSBC U.K., investing money in B2B FinTechs disrupting their industries. In total, more than $732 million was raised by B2B FinTechs this week. 10x Future Technologies.
Thielens said payments is a particularly interesting area, considering how much innovation has occurred in the last decade with payers (consumer and corporate alike), demanding greater choice and variety in how they make payments.
In B2B payments and corporatefinance, it wasn’t only bank-FinTech collaboration that made headlines in 2018. Here are some of the biggest stories of B2B payments collaboration from 2018. Last June, the company announced a partnership with B2B eCommerce platform Handshake to further that initiative.
Today in B2B payments, lenders land SMB relief support in U.S. Plus, Contour completes blockchain trade finance transaction, Liberis raises funding for SME financing, Pakistan eyes digitizing supply chains, and Ripple faces SEC charges. pandemic aid package. Pandemic Aid Package Provides Relief For Lenders To Help SMBs.
Although generally available in the consumer market for about a decade, the electronic payment model of buy-now-pay-later (BNPL) is finally bearing fruit for micro, small and midsize enterprises (MSMEs) by avoiding interest payments on corporate credit cards, reducing paperwork, facilitating quicker transactions, and improving liquidity management.
Wirex , which providers consumers with an account to store both fiat and cryptocurrency, recently stepped into the corporatefinance space with the launch of its business account. Co-Founder Dmitry Lazarichev explained to PYMNTS why the company remains confident in cryptocurrency’s potential for corporate payments.
With more than $200 million in venture capital funding landing with B2B FinTechs this week, investors had their eyes set on a variety of pain points in corporatefinance. Below, PYMNTS breaks down the latest in B2B FinTech funding. With an eye on the freelancer segment, neobank Joust has just announced a $2.6
Separate research last month also examined how corporatefinance expects are bracing for this digital disruption. Finance professionals spoke with Gartner, Inc. ” B2B payments is another area of corporatefinance that some analysts expect blockchain to disrupt in a major way. ”
In corporatefinance, the predictions are largely about the adoption of the most cutting-edge technologies, from artificial intelligence (AI) to blockchain. However, AI isn’t the only tool to which these companies, and their corporatefinance clients, should be paying attention. The latest report from Gartner, Inc.
some corporate accounting experts have questioned the largest auditing firms’ role in combating accounting errors and fraud after a string of corporatefinance scandals. In the U.K., In the U.S.,
Payment network innovation has largely focused on elevating the ability to transmit data along with funds, which has become a key benefit floated for corporates in the B2B payments realm.
Accounts receivable (AR) is a function that spreads across multiple tasks of an enterprise, from corporatefinance to sales teams and vendor relationship management initiatives. As B2B payments in the U.S. Yet AR has widely been viewed as a friction-filled manual task that doesn’t add value to the organization. Even in the U.S.,
Connecting transaction data from B2B payments with spend management technology means not only moving money faster, said Thakur, but also obtaining greater agility in the management of financial data that can provide a clearer picture into how organizations can (and should) manage their assets.
Before that, the B2B and B2C legislation had already introduced a similar prohibition, but financial services had been (partially) exempted. This leaves the question as to what extent contracts on financial services (international corporate lending in particular) are now caught by the general prohibition on unfair terms in the new Civil Code.
Fraud never sleeps, and the corporatefinance department cannot afford to stay behind on the ever-changing strategies of fraudsters. According to researchers, hackers infiltrate the email accounts of employees within a B2B supplier’s finance departments, including accounts receivable and procurement.
The possibilities are seemingly endless, particularly as the consumer payments world ushers in new technologies for the B2B space. “Whether it’s a year from now or three years from now, whatever is working in the consumer space will ultimately make its way into the B2B space,” Clark said.
Steve Troy, CEO of AeroFund Financial, says that’s a trend permeating many components of corporatefinance today: Businesses don’t just need better tools – they need, in some cases, an entirely new way to manage finances. Troy noted that this is indicative of the B2B FinTech space coming in to disrupt the status quo.
Corporates have growing expectations for faster, more efficient and more secure B2B payments — whether their money is moving from one business unit to another or one country to another. As businesses continue this shift, it is no longer safe to assume that corporates are not interested in faster payments.
B2B FinTechs are playing an especially prominent role in this trend, analysts noted. Anecdotally, these firms have been talking for years about the industry’s potential to make significant disruptions in areas like corporatefinance, small and medium-sized business (SMB) lending and more. “We
Today in B2B payments, the SBA releases guidance for the next round of PPP loans, while xSuite secures Peppol invoice certification. Plus, TripActions announces ERP integrations, FortisPay acquires Swype and Goldiam launches a B2B eCommerce platform in the U.S. Goldiam International Debuts B2B Website for US Retail Jewelry.
This challenge often emerges with small businesses (SMBs) that are not large enough to fit into a bank’s corporate and treasury services unit, and are, therefore, forced into being serviced with consumer-targeted products. The financial services space often encounters the conundrum of trying to fit a square peg in a round hole.
B2B payments is at the center of efforts to innovate by FinTechs, banks and others, but corporates’ business-to-business payment processes remain complex, erroneous and a deterrent to growth. Finance experts in some of the U.K.’s Yet this research clearly shows current processes for B2B transactions are letting them down.”.
This week, the largest funding round went to a B2B startup developing autonomous trucking technology to boost fleet efficiency, with other rounds landing at small business bookkeeping, workforce communications, and IBAN fraud mitigation startups for a combined $236 million-plus landing at B2B startups.
This week's B2B Data Digest looks at the latest figures behind such fraud targeting corporatefinance teams. While much of the focus of B2B fraud typically lands on external actors, concerns about PPP fraud may raise awareness of some bad actors within the enterprise looking to steal money via loan fraud or other types of scams.
Demand for corporatefinance helped propel China’s banks to new lending records in November, according to news from Reuters on Monday (Dec. That figure surpassed analysts’ expectations, especially considering China’s efforts to reduce risk tied to a surge in corporate debt. Chinese banks provided $169.27 billion yuan.
Accrualify , which works in cloud-based solutions for mid- and enterprise-level companies, is launching a new corporate card in partnership with Visa , according to a press release. The intent of the card is to boost options for spend control for corporatefinance teams.
If it seems like Visa has been on a B2B payments kick lately, it’s because they have. The payments giant has struck several new partnerships, expanded its commercial capabilities into new markets and developed new B2B payments solutions – all within the last few months. “Speed is becoming more important. .”
percent equity interest in Hangzhou Zeshi Investment Partners, which will enable China Lending to launch its new supply chain financing services in the near future, including financing products design, related corporatefinancing solutions, investments and asset management, and more.
The enterprise resource planning ( ERP ) system has been a staple of corporatefinance operations for years, acting as a central repository of data and a hub to initiate a range of processes, from accounting to procurement. But the ERP of today doesn’t look like it used to. The ERP’s Role in a FinTech World.
In corporatefinance, automation changed the game. Robotics process automation (RPA) is a recent favorite among some B2B FinTechs. Speaking with PYMNTS, Kryon CEO Harel Tayeb explained why robotics process automation has such vast potential in B2B payments. Automation initiated this capability for many organizations. “We
Investors diversified their funding to B2B companies this week, hitting several areas of corporatefinance including accounts payable, accounts receivable, payroll and supply chain management. B2B Payments. Find out who. With the inevitable comparisons to LinkedIn, Lynkos offers a business network platform, but the U.S.
While initial Banking-as-a-Service adoption focused on the consumer end user, the company’s debut of Stripe Treasury showcases the model's opportunity to enhance the experience of corporate end users with integrated payments and other financial offerings.
Financial technology innovation has opened the doors to massive transformation of corporatefinance departments. While flashy corporate FinTech is exciting, innovation efforts have rarely focused on a mainstay of corporatefinance teams: the financial close process, a crucial, but continually outdated function.
This week's B2B Digest looks at how corporatefinance scams come in all shapes and sizes, from employee expense fraud to invoice falsification. But the BEC scam is not the only kind of business payments fraud plaguing firms today. PYMNTS breaks down the numbers behind the latest cases below.
From September 13 to 14, 2023, the IMPACT FESTIVAL, Europe’s largest B2B event for sustainable innovation, will take place in Frankfurt/Offenbach. September 2023 in Frankfurt/Offenbach appeared first on FCF Fox CorporateFinance GmbH. Read more The post FCF @IMPACT FESTIVAL from 13./14.
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