PYMNTS

JULY 24, 2020

London startup mobile bank Revolut Ltd. Founded in 2015, Revolut began by offering prepaid debit cards that allowed users to avoid foreign exchange fees while traveling abroad. Since then, the financial technology (FinTech) company has expanded its portfolio to also offer business banking.

Startups 102

Startups Foreign Exchange Valuation Invoicing 102

PYMNTS

DECEMBER 16, 2020

Meanwhile, banks in Malta are skeptical of jumping on the blockchain bandwagon, according to Cointelegraph. The banks must be convinced that this is something that can really happen; unless banks are on board it will be very difficult,” Caruana said. users to avoid running into potential compliance issues. customers. “It

Foreign Exchange 60

Foreign Exchange Investments Banking Financial Analyst 60

PYMNTS

OCTOBER 16, 2020

Consumers send funds by tapping or swiping payment cards, clicking a few buttons on banking websites or payment apps, or keying details into online checkout pages, which payees receive via bank accounts or digital wallets. Kicking Free Of Correspondent Banking.

Foreign Exchange 85

Foreign Exchange Compliance Currencies Banking 85

Global Finance

JUNE 6, 2024

Its new generative AI tool analyzes and summarizes the minutes and announcements from the Monetary Policy Committee of Brazil’s central bank and the Federal Open Market Committee of the US Federal Reserve. The bank believes it creates analyses and summaries that are faster and more bias-free than traditional analyses.

Construction 109

Construction Compliance Cash Management Treasury 109

PYMNTS

MARCH 8, 2019

Microsoft said in a press release that Transfast will “complement Mastercard’s wide range of payment solutions by increasing worldwide connectivity in the account-to-account space, enhancing compliance capabilities and offering more robust foreign exchange tools.”. Currently, Transfast supports the Mastercard Send service. “We

Foreign Exchange 76

Foreign Exchange B2B Compliance Accounting 76

PYMNTS

DECEMBER 8, 2017

The firm’s co-founder and chief product officer, Ferhan Patel, said the tool aims to fill gaps left by companies’ own banks. Businesses are simply looking for more from their banks and are not getting the additional services they need to automate their processes,” said Patel.

Foreign Exchange 78

Foreign Exchange Treasury B2B Compliance 78

Global Finance

JULY 26, 2024

Modern treasuries face a diverse array of demands, such as real-time payments, high inflation and interest rates, and new compliance and sustainable finance obligations. Companies and their partner banks are having to enhance and improve both infrastructure and processes as a result.”

Cash Management 93

Cash Management Treasury Compliance Banking 93

PYMNTS

APRIL 3, 2019

Large corporates across Asia are driving digital transformation of banking and treasury management in the region, according to new analysis from Greenwich Associates. Analysts said treasurers are focused on the acceleration of banking and treasury processes, as well as the ability to make these tasks more affordable and transparent.

Treasury 49

Treasury Banking Foreign Exchange Corporate Finance 49

PYMNTS

NOVEMBER 21, 2016

Against this backdrop, banks must contend with payment outflows, inflows and regulations. Dealing with these differences across geography is challenging, Monty added, suggesting that there are no truly global banks — even among the biggest of institutions. That’s where platforms like Hyperwallet become especially valuable.

Foreign Exchange 74

Foreign Exchange Currencies Banking Compliance 74

PYMNTS

DECEMBER 11, 2019

As the open banking business model permeates into the B2B financial services market, FinTechs and traditional financial institutions continue to find new use cases for API integrations and connectivity to elevate the business-user experience. SMBs that nearly half (48 percent) said they don’t believe technology will impact their business.

Banking 52

Banking Foreign Exchange Reconciliations B2B 52

CFO Talks

AUGUST 29, 2024

It’s making sure there’s enough money in the bank to cover expenses, paying off debts smartly, and protecting the business from financial hiccups. For example, a mining company needs to ensure its financial operations comply with foreign exchange regulations to avoid penalties. What Is Treasury Management?

Treasury 96

Treasury Cash Flow Forecasting Foreign Exchange Currencies 96

PYMNTS

JANUARY 30, 2019

Then the first money laundering directives came out, which started to mandate more and more in the realm of customer due diligence, so the company added a compliance check. GDC, for instance, started out with a solution set for know your customer (KYC) in an eCommerce use case where the company was conducting high-velocity ID verification.

Foreign Exchange 74

Foreign Exchange Compliance Startups Currencies 74

PYMNTS

MARCH 17, 2020

Open APIs offer FIs a way to enable banks to build multi-channel offerings, especially in the march toward digital transformation, as they standardize access to customer data while giving developers a way to cut the time it takes to develop new customer experiences.

Foreign Exchange 91

Foreign Exchange Securities Compliance Startups 91

PYMNTS

JANUARY 30, 2019

The New York Department of Financial Services (DFS) announced it has fined Standard Chartered $40 million for attempting to rig transactions in foreign exchange (FX) markets between 2007 and 2013. The bank also agreed to provide the DFS with ongoing progress reports to prove that it is meeting the objectives.

Profit and Loss 51

Profit and Loss Foreign Exchange Compliance Auditing 51

PYMNTS

MARCH 6, 2017

An article in a publication owned by the regulator called for a more open, competitive domestic foreign exchange (FX) market that enables a flexible FX rate mechanism to mitigate against cross-border capital fluctuation, according to reports. Deputy head of the State Administration of Foreign Exchange Fang Shangpu penned the article.

Foreign Exchange 40

Foreign Exchange Marketing Compliance Currencies 40

Global Finance

JULY 24, 2024

Africa— Rand Merchant Bank On the African continent, Rand Merchant Bank (RMB) strives to exceed the expectations of its clients by combining high levels of service with an exceptional technological platform to deliver effective sub-custody solutions covering all elements of trade transactions, as well as reporting and analytics.

Banking 52

Banking Foreign Exchange Risk Management Leverage 52

Global Finance

JULY 24, 2024

Africa— Rand Merchant Bank On the African continent, Rand Merchant Bank (RMB) strives to exceed the expectations of its clients by combining high levels of service with an exceptional technological platform to deliver effective sub-custody solutions covering all elements of trade transactions, as well as reporting and analytics.

Banking 52

Banking Foreign Exchange Risk Management Leverage 52

PYMNTS

APRIL 16, 2020

This week’s look at the latest in bank-FinTech collaborations and open banking initiatives finds a focus on small business lending: In the U.K., That firm recently secured funding from Visa, which is also in the process of acquiring Plaid as part of its own wide-ranging open banking initiatives.

Finance 67

Finance Foreign Exchange Compliance Banking 67

PYMNTS

MAY 13, 2020

But in a collaborative effort with Flywire , Citi Commercial Bank is working to accelerate these transactions for Boston-area hospitals that need equipment fast. With high transaction values and sellers across borders, these purchases would traditionally take several days to complete.

Healthcare 81

Healthcare B2B Foreign Exchange Nonprofit 81

PYMNTS

JANUARY 14, 2019

There’s also a technology boom, which comes as the continent, in Nazir’s words, “leapfrogged over the landline and over the computer, and straight to the smartphone and, now, into mobile money over bank accounts. Those members of the formal economy, said Nazir, “are not comfortable going into a branch, and they do not have bank accounts.

eCommerce 85

eCommerce Foreign Exchange Accounting Banking 85

PYMNTS

FEBRUARY 18, 2020

Banks are increasingly embracing new channels to offer seamless omnichannel services to their customers, but doing so often creates silos that handle large amounts of collected data. Fraud orchestration can help solve this issue as it allows banks to build holistic fraud prevention defense systems and gain 360-degree views of their customers.

Foreign Exchange 52

Foreign Exchange Reconciliations Compliance Banking 52

PYMNTS

OCTOBER 11, 2019

Still, investors placed more than $368 million into the space, often in the form of Series B rounds for a range of B2B players, including fleet management, small business (SMB) banking and global payments. challenger bank Tide secured $54.3 small business banking market, as well as invest in international expansion. .”

Startups 67

Startups Foreign Exchange B2B Investments 67

Future CFO

OCTOBER 30, 2023

Treasury activities, which cover money market operations, foreign exchange transactions, securities trading, and derivatives, generate a significant volume of data that are needed to be meticulously monitored and properly reported.

Treasury 52

Treasury Foreign Exchange Risk Management Compliance 52

PYMNTS

SEPTEMBER 14, 2016

“We are big believers that everything should, as much as possible, remain local within countries to take a lot of the foreign exchange burden off of people,” he explained. Regardless of a platform’s vertical, business model or type, Warrington said having a global workforce is no easy feat.

Foreign Exchange 69

Foreign Exchange Education Compliance Startups 69

PYMNTS

JUNE 15, 2017

Doing so, he added, will not only help the company but other FinTechs — and conventional banks — with their own modernization efforts. “I The Western Union API sits on top of a global network of bank accounts, which are monitored by a compliance engine. An API FinTech revolution?

B2B 70

B2B Foreign Exchange Compliance Leverage 70

PYMNTS

DECEMBER 28, 2020

Published reports indicate that China’s central bank and banking, securities and foreign-exchange regulators summoned Ant Group executives this past weekend to discuss official concerns about the firm. Reuters quoted central bank Vice Gov.

Restructuring 67

Restructuring Foreign Exchange Compliance Financial Systems 67

PYMNTS

DECEMBER 4, 2017

based RailsBank, an open banking platform that facilitates connectivity into the U.K. Through their collaboration, RailsBank customers will also gain access to Airwallex’s cross-border payments and foreign exchange (FX) services. In an announcement on Friday (Dec. 1), the Australian company said it is partnering with with U.K.-based

Foreign Exchange 49

Foreign Exchange Startups Compliance Banking 49

PYMNTS

FEBRUARY 25, 2020

A key feature of the tool is its ability to support connectivity with more than 1,000 banks, and a range of payment rails and protocols to support a suite of payment formats. Standardizing these integrations means boosted visibility, the company said, while reducing costs, improving compliance and addressing the growing threat of fraud.

Foreign Exchange 56

Foreign Exchange B2B Accounting Compliance 56

PYMNTS

MAY 12, 2017

And, to top that off, dealing with foreign exchange can add further complexity to a business’s workflow, Laven explained. When it comes to making cross-border B2B payments, dealing with foreign exchange rates is an issue that businesses around the world continue to struggle with on several fronts.

B2B 43

B2B Foreign Exchange Compliance Currencies 43

PYMNTS

DECEMBER 31, 2020

In our crazy banking system, you don’t actually have to prove who somebody is to put their name on a piece of paper and stick it in the mail,” he noted. That’s because paper becomes the default method of payment when something goes awry — such as when banking credentials can’t be authenticated or identity cannot be verified.

Healthcare 115

Healthcare B2B Foreign Exchange Treasury 115

PYMNTS

SEPTEMBER 18, 2018

The tool will integrate Thomson Reuters’ World-Check and FXall solutions to provide Know Your Customer compliance and foreign exchange management features. In their announcement, the firms pointed to Asian Development Bank findings that today’s trade finance gap now stands at an estimated $1.6

Finance 48

Finance SAP Foreign Exchange Compliance 48

PYMNTS

FEBRUARY 5, 2020

The partnership model means that firms seeking to streamline cash flow functions do not have to link up with in-country banks and puts into place a building block to growth — namely, moving money in other countries across currencies and foreign exchange rates. Typically, McGuire stated, a firm operating only in the U.S.

Invoicing 61

Invoicing Accounts Payable Foreign Exchange Currencies 61

PYMNTS

MARCH 1, 2017

With increasing globalization, cross-border, or global, payments have become a very big piece of the banking business. The space is also a hotbed for competition as a number of non-banks are offering the multicurrency payment processing capabilities that businesses need more efficiently and at a better value than the big banks.

B2B 58

B2B Foreign Exchange Compliance Banking 58

PYMNTS

OCTOBER 1, 2019

’s many so-called digital challenger banks, Revolut started its evolution as a pre-paid card attached to an app that gave users an easy mechanism for paying abroad without foreign exchange fees. ” There have also been reports of compliance issues with the organization. One of the U.K.’s

Foreign Exchange 43

Foreign Exchange Valuation B2B Compliance 43

PYMNTS

JUNE 13, 2016

“While the mobile technology can create lower-cost and friction-free alternatives for cross-border small-value payments, the same is subject to licensing under FEMA [Foreign Exchange Management Act, 1999],” Paytm clarified. As such, the current Paytm Wallet cannot be used for overseas payments,” the company added.

Foreign Exchange 41

Foreign Exchange Compliance Startups Banking 41

Future CFO

DECEMBER 3, 2020

While Lloyds Banking Group is the first to go live with the service and the UK is the first market where it is available, SWIFT said it expects adoption to continue globally as demand for an instant cross-border experience rises.

Foreign Exchange 40

Foreign Exchange Compliance Securities Banking 40

Future CFO

FEBRUARY 24, 2021

China, Hong Kong, Thailand, and the UAE will test central bank digital currencies in cross-border payments, according to a recent statement by the Hong Kong Monetary Authority (HKMA).

Currencies 40

Currencies Foreign Exchange Compliance Banking 40