Global Finance

DECEMBER 11, 2024

From a monetary perspective, traditionally Egypt was focused on fixing the foreign currency and protecting the Egyptian pound. Since March 2024, we have been focused on the inflationary effect, currency pricing is set according to market dynamics and so far, it has proven very successful.

Economics 105

Economics Investments Currencies Banking 105

PYMNTS

FEBRUARY 21, 2020

Sweden’s Riksbank is assessing e-krona, a new form of digital currency that hopes to take the country a step closer to the creation of the world’s first central bank digital currency (CBDC), according to reports on Thursday (Feb. CBDCs are a digital form of traditional money issued and governed by a country’s central bank.

Currencies 105

Currencies Banking Math Economics 105

PYMNTS

AUGUST 14, 2020

A week after details of the Federal Reserve’s instant payment initiative emerged, news came via Bloomberg that the central bank is working with the Massachusetts Institute of Technology (MIT) to explore the possibility of issuing digital currency. And even before the BIS findings, in March, members of U.S.

Currencies 113

Currencies Banking Accounting Technology 113

PYMNTS

MAY 16, 2020

patent on a computer system that would convert physical dollars and other fiat currencies into digital versions, complete with denominations and serial numbers and recorded via blockchain. The system would then remove the paper currency from circulation. A central entity may implement a monetary policy and issue currency.

Currencies 128

Currencies Securities Banking Numbers 128

Global Finance

OCTOBER 29, 2024

Nigeria’s central bank will automate foreign exchange (FX) trading starting in December, replacing the decade-old over-the-counter system to enhance transparency and liquidity in its currency markets. This shift is expected to level the playing field, reducing opportunities for bias and favoritism in foreign currency allocation.

Foreign Exchange 98

Foreign Exchange Currencies Economics Banking 98

PYMNTS

DECEMBER 6, 2020

Citigroup will be helping governments around the world establish sovereign digital currencies, or central bank digital currencies (CBDC), CEO Michael Corbat says, according to a report from CoinDesk. 4), Corbat said the development of such digital currencies was likely inevitable with the way money has been trending.

Currencies 114

Currencies Banking Marketing 114

CFO News

MARCH 17, 2025

India's Reserve Bank announced that bilateral trade transactions with Maldives can now be settled in Indian Rupees (INR) and Maldivian Rufiyaa (MVR) in addition to the Asian Clearing Union (ACU) mechanism.

Currencies 45

Currencies Banking 45

PYMNTS

DECEMBER 28, 2020

Digital currencies could render the SWIFT global payments network unnecessary, RT.com reported, citing the Central Bank of Russia (CBR). Olga Skorobogatova, first deputy governor of the CBR, said 30 countries are working on their own national digital currencies, some of which could launch in five to seven years.

Banking 142

Banking Currencies Prioritization Technology 142

Global Finance

DECEMBER 26, 2024

He chaired the board of the Commercial Bank of Syria for a few years and authored scholarly papers on corporate governance before President Bashar Hafez al-Assad tapped him for the ministry in a last-gasp government reshuffle this September. According to the World Bank, Syrias economy has shrunk by 85% since its civil war broke out in 2011.

Finance 119

Finance Auditing Currencies Banking 119

PYMNTS

JUNE 8, 2020

United Nations global blockchain expert Massimo Buonomo has foreseen a future where digital currencies could replace low-interest bank accounts, Coindesk reports. In addition, Buonomo said digital currencies, especially central bank digital currencies (CBDC) may eventually be able to replace all bank accounts.

Accounting 135

Accounting Banking Currencies Securities 135

PYMNTS

SEPTEMBER 22, 2020

The regulator of the nation’s banks has issued its first guidance on stablecoins , the cryptocurrency backed by traditional currency. . A letter by the Office of the Comptroller of the Currency (OCC) published on Monday (Sept. A letter by the Office of the Comptroller of the Currency (OCC) published on Monday (Sept.

Banking 138

Banking Currencies Leverage Technology 138

Global Finance

DECEMBER 6, 2024

Offshore investments become a hedge against currency volatility. High inflation, currency volatility, and foreign exchange scarcity have eroded wealth and significantly contributed to a decline in net worth for many people. In response, many banks have developed financial advisory services anchored on diversification.

Banking 52

Banking Foreign Exchange Currencies Investments 52

PYMNTS

JANUARY 25, 2021

The Reserve Bank of India (RBI) is exploring making a digital currency, a reversal of its prior position, according to a report from Cointelegraph. While central bank digital currencies (CBDCs) are considered legal tender in the country, the government and regulators have considered them a “liability,” Cointelegraph reported.

Banking 127

Banking Currencies Numbers Technology 127

PYMNTS

SEPTEMBER 30, 2020

House committee this week began reviewing the idea of allowing the likes of Amazon or Facebook to receive charters to operate as banks — an idea that’s already gotten plenty of pushback from traditional financial institutions (FIs). However, the banking industry doesn’t like that one bit. “We Specific Concerns .

Banking 139

Banking Financial Systems Concentration Currencies 139

CFO News

MARCH 16, 2025

State-owned Engineers India and MECON, alongside four private firms, have been shortlisted for RBI's project to modernize its currency management infrastructure. RBI seeks to address challenges faced by other central banks and ensure sustainable currency management.

Currencies 40

Currencies Securities Banking 40

PYMNTS

DECEMBER 29, 2020

To serve eCommerce companies’ needs, as transactions continue to shift online, banking needs to go digital, too. As has been profiled in this space previously, virtual IBANs serve as reference numbers issued by banks. Platforms and single access points help bridge the gap between traditional banks and eCommerce.

Numbers 115

Numbers Accounting Banking eCommerce 115

PYMNTS

APRIL 10, 2020

While this strategy can yield results, it can also create silos, hampering a bank’s ability to achieve one of the most vital goals of DX: seamless integration of operations that boost efficiency and improve the end-user experience. “Banks are technology companies,” Rio Tinto recently told PYMNTS.

Technology 144

Technology Banking Foreign Exchange Currencies 144

Global Finance

MARCH 4, 2025

Sasha Cook, head of Sustainable Finance at Standard Bank CIB, explains how domestic banks are helping to close the energy-investment gap and ensure sustainable development across Africa. Global Finance: What are Standard Banks specific targets for reducing its financed emissions, and how is it achieving them?

Finance 52

Finance Banking Construction Currencies 52

PYMNTS

JANUARY 6, 2021

Thus far, the numbers do not bear out a massive uptake of a business model, that for the stakeholders, is essentially free (There are roughly 38 banks signed on and 5 million users of CoDi, as measured in late 2020). Banks generate more business by enabling payments for merchants. The buyer’s bank validates the transfer.

Banking 145

Banking Planning Accounting Currencies 145

Global Finance

MARCH 5, 2025

With its exit from Central America and Colombia, Scotiabank follows the trend of international banks retreating amid rising compliance costs and risks. Scotiabank has officially exited retail banking in Panama, Costa Rica, and Colombia, marking the latest move by a major international lender to scale back in the region.

Banking 52

Banking Compliance Treasury Finance 52

PYMNTS

JULY 29, 2020

and China heating to a boil, one of China’s top banks is urging financial institutions (FIs) to cut their use of the SWIFT financial messaging network for cross-border transactions. The bank’s messaging applies to Hong Kong and Macau as well. According to the Bank of China’s new report, sanctions could have the U.S.

Banking 116

Banking Currencies Economics Planning 116

Global Finance

DECEMBER 6, 2024

After a year that can be described as challenging for US regional banks, with the failures of Silicon Valley Bank, First Republic Bank, and Signature Bank early in 2023, profitability growth has returned to many of the sectors banks that survived that dark period. The banks robust fee income, totaling $274.2

Banking 52

Banking Problem Solving Leadership Tax Planning 52

PYMNTS

JULY 5, 2020

Treasury Department’s financial crime division, the agency said the new guidance is in response to questions related to Bank Secrecy Act/Anti-Money Laundering regulatory requirements for hemp-related business customers. Among the rules: Banks must obtain identifying information, including a copy of licenses, as they would for any customer.

Treasury 140

Treasury Banking Concentration Manufacturing 140

PYMNTS

APRIL 29, 2020

But proponents of the technology argue that crypto is not only here to stay, but it will one day become a vital part of the overall payments and financial services ecosystem — so it’s essential that these companies receive adequate banking services today to prepare for the future. Conflicting Needs. As Karalevi?ius

Banking 113

Banking Compliance Currencies B2B 113

PYMNTS

DECEMBER 23, 2020

But the reality is that the consumer experience itself is the new currency in loyalty.”. It's a win-win for everybody,” she said of programs that retain consumers, while boasting sales for merchants and the banks. “So, So, we are able to deliver something differentiated, something relevant, that also drives spend.

Currencies 106

Currencies Budgeting Communication Sales 106

Global Finance

DECEMBER 26, 2024

Global Finance: In a landscape where central bank decisions and carry trades significantly influence global FX markets, what unique value can a bank offer its customers? Custom-tailored offerings and strategies have become a significant trend in corporate banking.

Currencies 52

Currencies Risk Management Banking Finance 52

Global Finance

DECEMBER 26, 2024

With FX risk management, adaptability is critical because every company has its own risk profile shaped by its market, currencies, and business model. Identifying exposures accurately is the foundation: knowing exactly where currency risks arise in revenues, costs, or balance sheet items is crucial to ensuring they can be managed effectively.

Treasury 59

Treasury Risk Management Currencies SAP 59

Global Finance

OCTOBER 11, 2024

Global Finance presents its 31st annual list of best banks worldwide. Banks face an uphill battle as supply chains remain disrupted, regional conflicts continue to build, and the fear of bank failure returns. Industry leadership, advancements in digitalization and corporate citizenship also factored in.

Banking 111

Banking Foreign Exchange Profit and Loss Finance 111

PYMNTS

DECEMBER 27, 2020

The rise of the currency's value has been surging just over the past holiday weekend, breaking $25,000 on Friday (Dec. Japan might look into launching its own central bank digital currency (CBDC) in both the public and private sectors, according to a report from Japan Times. 25) and then $26,000 on Saturday (Dec. In the U.K.,

Currencies 101

Currencies Planning Banking Securities 101

PYMNTS

SEPTEMBER 21, 2020

Gross negligence – or evidence of a battle waged by banks that requires new, high-tech weaponry? To that end, and as reported by BuzzFeed , documents submitted by banks to the U.S. The headlines blare a chorus: Banks are not doing their jobs. In terms of dollar amounts, Deutsche led the pack at $1.3 billion in fines.

Banking 139

Banking Leverage Technology Compliance 139

PYMNTS

SEPTEMBER 22, 2020

No longer is open banking solely for consolidating financial information into a single platform for one end user. Acumatica Links Its ERP Into Bank Data. Integrated into its ERP solution, the new feature links electronic banking fees to corporate card spend, allowing for automated receipt creation. In the U.K.,

Banking 110

Banking B2B Foreign Exchange Currencies 110

PYMNTS

SEPTEMBER 25, 2020

Her speech, entitled “Payment and the Pandemic,” included a section on digital currencies. Mester noted the central bank had been looking into digital currencies even before the pandemic, “building and testing a range of distributed ledger platforms to understand their potential benefits and trade-offs.”

Currencies 132

Currencies Banking Securities Technology 132

CFO News

OCTOBER 23, 2024

BRICS nations have decided to boost trade using local currencies and explore new financial infrastructures. The New Development Bank will also be developed further. They agreed to study the feasibility of an independent cross-border settlement system and establish a BRICS reinsurance company.

Currencies 74

Currencies Banking 74

PYMNTS

SEPTEMBER 29, 2020

Blanco , director of the Financial Crimes Enforcement Network ( FinCEN ), said banks need to be wary of risks with cryptocurrency, according to remarks planned to be given at the ACAMS AML (anti-money laundering) virtual conference on Tuesday (Sept. Blanco said the organization is looking at mitigating risks with virtual currencies.

Banking 103

Banking Currencies Accounting Planning 103

Global Finance

JULY 16, 2024

Throughout its 30-year history, Converse Bank has been a trendsetter in Armenia. This began with it as the first bank since the country became independent to be set up with foreign investment – led by principal shareholder Eduardo Eurnekian, an Argentine-Armenian businessman. Being a pioneer seems to be in Converse Bank’s DNA.

Banking 98

Banking Currencies Leverage Accounting 98

PYMNTS

OCTOBER 8, 2020

In today’s top news in digital-first banking, Revolut is rolling out a new feature to encourage youth to stash cash, while the Bank of Korea has indicated that it plans to start testing distribution of its digital currency next year. Bank Of Korea To Begin Testing Distribution Of Digital Currency.

Banking 98

Banking Currencies Economics Forecasting 98

PYMNTS

JANUARY 15, 2021

15) announced that it is assessing a $390 million penalty against Capital One for engaging in what it says are “both willful and negligent violations” of the Bank Secrecy Act (BSA). The statement from FinCEN said Capital One established the Check Cashing Group as a business unit within its commercial bank in 2008. financial system.”.

Banking 107

Banking Compliance Currencies Financial Systems 107