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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. Emerging Ecosystems.
Treasury will not be rolling out a proposed emergency coronavirus funding scheme that would have sent billions to providers of supply chain finance, according to Sky News. Two months ago, the Treasury had asked for feedback on the scheme to help funnel more money to businesses hurting for cash in the pandemic.
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.
One area where elimination of such processes can be of benefit is treasury management — specifically, reconciliation of transactions and liquidity management. Yet, corporatefinance especially is “operating, more or less, the same [way] it has for 20 years prior. Real-Time Window To Treasury Management.
API technology isn’t new, but all of a sudden, the world of FinTech seems to be flocking to the tool as a way to expand the financial services offered to corporates. Anis Rahal, CEO of treasury management firm TreasuryXpress , has been a vocal proponent of API technology in recent months. Never in my life.
Financial services firm ION is introducing the industry’s first treasury management solution for cash forecasting, powered by machine learning, the company announced on Thursday (Feb. Developing solutions are on tap to lower costs related to the implementation and time-to-market of a treasury management system (TMS).
This week's B2B Data Digest looks at the latest figures behind such fraud targeting corporatefinance teams. 21 percent of business leaders say payment authorization and authentication are requirements when choosing a treasury management platform , a report by Citizens Commercial Banking found. Barrenechea in a statement.
The initial coin offering (ICO) has emerged as a corporatefinancing trend just as volatile as many of the cryptocurrencies themselves. “We’ve seen some ICO project treasuries fall by 80 percent or more, resulting in significantly less runway for building out their product and business,” he continued.
When Stripe announced earlier this month that it was collaborating with the likes of Citigroup, Goldman Sachs and Barclays to embed a range of financial services within its Stripe Treasury offering, it was a big step forward for the Banking-as-a-Service (BaaS) landscape. And coming from transaction systems, the ERP is a bit foreign.".
Large corporates across Asia are driving digital transformation of banking and treasury management in the region, according to new analysis from Greenwich Associates. The portion of treasury officials prioritizing digitization has nearly doubled since the fourth quarter of 2018 to 22 percent, the report revealed.
As the corporate treasurer takes on a more strategic role in the enterprise, treasury and cash management technologies can often be stuck in the past, failing to keep up with financial execs’ needs. financial services space, data security will also come into focus for corporatefinance executives even more than today.
But APIs can offer a different strategic advantage, especially to B2B FinTechs, according to A.J. For OANDA, that means developing a robust foreign exchange (FX) management solution for corporate treasurers — only the company isn’t targeting treasurers directly with the tool. It’s a sentiment echoed throughout the B2B FinTech market.
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.
Asia Pacific-based corporatetreasury management technology firm CS Lucas is expanding in the U.K., office to connect businesses in the country with its treasury Software-as-a-Service offering. CS Lucas pointed to its focus on ease of integration into corporates’ back-offices as a key competitive differentiator for the firm.
Santander Bank is rolling out a new solution for its corporate clients. 12) that its Treasury Link solution is now live in the U.S. and will provide cash management services for such corporate customers. The financial institution (FI) announced Tuesday (Dec.
Rising corporatefinance metrics don’t always mean good news. Find out which figures led to good growth — like digital corporate payments increases or a rise in SME hedging practices — and which signal bad news for corporate FinServ. The numbers are on the up this week! But don’t let that fool you.
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.
Instead, VCs leaned conservatively toward a mix of B2B FinTechs operating in the financial management space for small businesses (SMBs) and in the treasury management market for mid-level and larger enterprises. It seems VC has cooled off a bit in the B2B FinTech front. It seems VC has cooled off a bit in the B2B FinTech front.
” In its 2018 AFP Technology Survey , underwritten by corporatetreasury management firm BELLIN , the AFP surveyed 708 corporatefinance executives about their thoughts on adoption of technologies like artificial intelligence (AI) and blockchain.
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. .”
Corporatefinance executives seem to be readying for real-time payments, preparing to adopt faster payment capabilities and bracing for changes to their cash flow management strategies as a result. A new report from Deutsche Bank said this industry path is guiding banks and corporates to a new destination: real-time treasury.
Much of that innovation has been focused on corporatefinance and payments, as top financial services players have introduced new blockchain solutions in an effort to disrupt and improve corporate payments. in blockchain development efforts.
But the scheme faced some of its harshest attacks yet at the hands of the CorporateFinance Network, a U.K. Reports in Accountancy Daily on Monday (April 29) said the CorporateFinance Network is calling on U.K. In a statement at the time, Treasury Economic Secretary John Glen described these figures as a success.
While financial services (FinServ) innovations often emerge with built-in security measures, new market trends — including faster payments and open banking — are introducing new security threats to corporatetreasury departments, according to cybersecurity company BioCatch. In the case of Same Day ACH in the U.S.,
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
In an effort to increase the digitization of B2B billing and payments, Transactis provides financial institutions with software that allows corporate customers to switch to electronic billing, accounting and payments processes. PNC Executive Vice President for Treasury Management James G.
Corporations have been chastised in recent years as floods of new data reveal the ongoing prevalence of paper checks in B2B payments. But if the financial services sector is going to actually service its corporate clients, then it must acknowledge that checks will remain in the mix — at least for the foreseeable future. “It
With more than $89 million raised, B2B FinTechs this week impressed venture capitalists (VCs) with a range of services, including small business accounting, financing, spend management and payroll. According to reports , the company has raised $5 million in seed financing from Pierre Lorinet and Fabio Blom, while MI8 also participated.
The competition is heating up between payment technologies in accounts payable, with ACH and virtual cards seeing significant pushes in the B2B payments space to combat the dreaded paper check. There are a lot of treasury management issues out there that need to be addressed,” he told PYMNTS in a recent interview.
Its set of application program interfaces (APIs) enable businesses to use crypto as collateral to access corporatefinancing products. In a statement, Co-founder of Cred and Universal Protocol Dan Schatt said the technology can be particularly applicable to the corporatefinance fields.
Investment in B2B FinTech startups came through a variety of channels this week, from venture capital to growth equity. In total, backers placed $273 million across companies operating in alternative finance, treasury management, software-as-a-service (SaaS) and B2B sales tech. The B2B SaaS market is diverse.
Corporates may not be adopting faster and real-time payments technologies as fast as consumers, but that doesn’t mean the acceleration of payments isn’t impacting corporatefinance. For the corporate treasurer, this could mean real-time FX exposure management and the need for faster action to mitigate FX volatility risk.
Amid the flurry of B2B FinTech innovation aiming to transform organizations’ back offices, there is often one common threat within the disruption: the need for previously siloed, disconnected systems and processes to integrate with each other, offering a streamlined, holistic view of the enterprise.
The announcement of Mastercard Track expanding into B2B payments last week represented a significant push for B2B payments modernization by one of the industry’s giants — and followed Visa’s own push in the B2B payments modernization space through the rollout of Visa B2B Connect in June. announced last month.
for 12 years, where he dealt with mergers and acquisitions as well as corporatefinancing. Akita will work with Toshiyuki Okuyama and Masato Sato, two senior bankers, and a man named Hideki Hiramatsu, who will be in charge of treasury services. Akita previously worked at Mitsubishi UFJ Morgan Stanley Securities Co.
The complexity of payment workflows within and between mid-market and large corporate entities can be so immense that many treasurers aren’t able to pinpoint exactly where the friction exists. For developers and corporatefinance teams alike, speed is also a factor in the transaction itself.
The AFP released its Corporate Cash Indicators (CCI) report, which surveys corporatetreasury and finance professionals on a quarterly basis. The Index jumped 22 points to +31 in Q4 compared to Q3 and increased 13 points year over year. The cash stockpiling was not entirely unexpected.
The spreadsheet is the bane of many corporatefinance professionals' existence. For accounting and treasury management departments, the spreadsheet's drawbacks can lead to detrimental impacts on corporate bottom lines.
Corporatefinance executives and financial service providers quickly acknowledged a dramatic change in the treasury department: Over the last decade, the corporate treasurer has become a strategic component of the enterprise, driving growth in a challenging, constantly changing market.
Today, Misys is gearing up for another overhaul that similarly reflects times of flux and progress in banking technology and corporatefinance. That could be big news for corporates, said Singh-Jarrold, though he did explain that businesses are not looking to make the decisions on how banks should digitize and innovate.
According to new research from Capital One , corporate treasurers have their eyes on these changes and are looking to upgrade their current commercial card tools. Nearly half (46 percent) said their biggest priority when deciding which commercial card service provider to pick is one that can adapt to their corporation’s unique needs.
The two launched their co-hosted platform in January of this year to provide a centralized treasury management service for Bosch. We are pleased to be the first to use this new platform jointly developed by Deutsche Bank and Bank of China,” said Bosch Head of CorporateFinance and Regional Treasury for APAC Christian Zeidler in a statement.
Corporatetreasury technology company HighRadius is rolling out a new cash flow forecasting solution developed using artificial intelligence (AI) technology.
In one report, a survey by treasury management solutions provider Kyriba revealed that treasurers are wasting nearly 5,000 hours every year working with manual spreadsheets. “But what our numbers show, rather dramatically, is the cost of over-relying on spreadsheets to manage an entire finance function, like treasury. .
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