PYMNTS

SEPTEMBER 20, 2020

The business division of Western Union will work with Isabel Group , a Belgian company providing multi-bank services through its B2B network Isabel 6, to grow connectivity in Belgium, according to a press release. Now, clients will be able to connect with more resources globally, the release stated.

Foreign Exchange 120

Foreign Exchange B2B Currencies Banking 120

PYMNTS

OCTOBER 23, 2018

Bank of America Merrill Lynch (BofA Merrill) is introducing a new solution for other financial institutions (FIs) in the interbank payment system to automate foreign exchange (FX) conversion. The solution is supported across 89 countries and can make conversion in 41 currencies, the bank noted.

Foreign Exchange 76

Foreign Exchange Banking Currencies Compliance 76

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

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 105

Banking Foreign Exchange Profit and Loss Finance 105

PYMNTS

NOVEMBER 3, 2020

This new financing will help us to accelerate the development of the company both in terms of products, with the addition of local currency accounts, payment card, integration with accounting software, and geographically, as we will target new markets in South-East Asia,” Statrys Founder and CEO Bertrand Theaud said in the announcement.

Foreign Exchange 105

Foreign Exchange Currencies Finance Accounting 105

PYMNTS

OCTOBER 20, 2017

More bad news for Wells Fargo : The financial institution has fired four foreign exchange (Forex) bankers following an investigation into that business by both the bank and regulators. The bank has also been accused of improperly forcing thousands of U.S. million fake accounts were opened without customers’ permission.

Foreign Exchange 49

Foreign Exchange Currencies Banking Sales 49

PYMNTS

FEBRUARY 4, 2020

Visa has announced that it will sell cross-border payments company Earthport’s foreign exchange (FX) business to Pollen Street Capital’s Currency Holdings, according to a report. If you are a treasury bank, you have to operate in both of those spaces,” he explained. Visa paid about $257 million for U.K.-based

Foreign Exchange 100

Foreign Exchange Treasury Currencies B2B 100

PYMNTS

DECEMBER 10, 2020

Bank of America (BofA) is introducing a cross-border payment tracker and expanding SWIFT gpi to support more than 140 currencies, accessible through the integrated CashPro platform. Customers can make payments via Bank of America’s SWIFT gpi solution. 10) press release. “Our 10) press release. and Ireland at SWIFT. .

Foreign Exchange 104

Foreign Exchange Banking Treasury Compliance 104

PYMNTS

NOVEMBER 2, 2016

A Japanese bank consortium gearing up to create a new real-time payments platform using blockchain technology from SBI Ripple Asia has expanded to 42 members. According to a report , the group launched in August with 15 members, and SBI Ripple Asia had expected to increase the size to 30 banks.

Foreign Exchange 77

Foreign Exchange Banking Currencies Technology 77

PYMNTS

JUNE 15, 2020

The partnership, by making use of Goldman’s technology and security capabilities with GTreasury’s platform, will allow businesses to pay vendors in their local currencies and at lower costs than they used to be able to, the release states, and it will allow real-time tracking that reduces the need for payment-related supplier inquiries.

Foreign Exchange 99

Foreign Exchange Treasury Currencies B2B 99

PYMNTS

FEBRUARY 8, 2017

China’s foreign exchange reserves have slipped below the $3 trillion mark, as measured in January. The data from the People’s Bank of China stated that the $2.99 The latest tally is the lowest in roughly six years, The Wall Street Journal reports. trillion in reserves was off $12.3

Foreign Exchange 40

Foreign Exchange Currencies Banking Numbers 40

PYMNTS

FEBRUARY 18, 2020

Deutsche Bank announced on Tuesday (Feb. 18) that it would improve its Sri Lanka operation with the launch of a new digital foreign exchange (FX) program, reports said. In a press release, Deutsche Bank Sri Lanka Chief Country Officer Vikas Arora said that the bank wants to change with the times.

Foreign Exchange 60

Foreign Exchange Banking Currencies B2C 60

PYMNTS

MARCH 26, 2020

Cross-currency money transfer firm Western Union has announced the launch of Digital Location, a new tool that enables people to send money from home. A card is used for payouts into any bank account, digital wallet or agent locations supported by Western Union. Over 40 countries have the ability to use the Western Union Mobile app.

Foreign Exchange 114

Foreign Exchange Currencies Risk Management Technology 114

Global Finance

OCTOBER 10, 2024

Byadran Lkhagvasuren, governor of the Bank of Mongolia, speaks to Global Finance about the country’s growth prospects and its pursuit of sustainable economic development. GF: Mongolia’s foreign exchange reserves increased last year and external debt was reduced. Byadran Lkhagvasuren: The Mongolian economy grew by 5.6%

Restructuring 74

Restructuring Foreign Exchange Banking Transportation 74

Future CFO

APRIL 10, 2022

Digital money will be the future, said PwC recently when releasing its 2022 PwC Central Bank Digital Currency (CBDC) Global Index. It’s estimated that more than 80% of central banks are considering launching a central bank digital currency,” the company noted in a statement.

Foreign Exchange 98

Foreign Exchange Currencies Retail Banking 98

PYMNTS

SEPTEMBER 20, 2020

FLEETCOR , which works in global business payments, announced that it had reached an agreement to acquire cross-border payment firm Associated Foreign Exchange (AFEX) to help boost its own payments network, a press release says. The company normally focuses on providing international accounts to businesses underserved by banks.

Foreign Exchange 121

Foreign Exchange Currencies Accounting Investments 121

PYMNTS

NOVEMBER 21, 2018

businesses are over-exposed to risks related to interest rate and foreign exchange volatility, according to new Citizens Bank research. corporates have raised concerns over the negative impact that foreign exchange volatility might have on profits, particularly as ongoing global trade disputes impact the FX markets.

Foreign Exchange 67

Foreign Exchange Banking Valuation Currencies 67

PYMNTS

SEPTEMBER 6, 2016

s share of the foreign exchange market has dropped, while the Bank for International Settlements (BIS) reported that Asia, particularly Hong Kong, Tokyo and Singapore, are picking up the pieces. s share of the global currencies trading market, according to FT — down from 41 percent in 2013. While the value of the U.K.

Foreign Exchange 40

Foreign Exchange Marketing Currencies Banking 40

PYMNTS

MARCH 16, 2020

Buyers will be able to pay suppliers in their own countries’ currencies with ease, according to the release. Risk will be less of an issue because of the increase in transparency and tighter control on foreign exchange payments, along with the currency exposures for those with stake in procurement and treasury.

SAP 99

SAP Foreign Exchange Reconciliations Currencies 99

PYMNTS

JULY 9, 2019

The tool lets treasurers keep a single account for each currency, for example, or to group accounts based on product line or legal entity. That approval enables Neo to create a payment institution to store, receive and send payments and invoices in multiple currencies for corporate users while operating its own core banking system.

Foreign Exchange 60

Foreign Exchange Banking Currencies Accounting 60

PYMNTS

JANUARY 15, 2019

HSBC is increasingly relying on blockchain technology to facilitate its foreign exchange trading services, reports in Financial Times said Monday (Jan. 14), with more than three million FX transactions having already been processed by the bank in the past year via blockchain.

Foreign Exchange 76

Foreign Exchange Currencies Treasury Banking 76

PYMNTS

NOVEMBER 13, 2020

But it was a Banking-as-a-Service company that led the roundup this time, with one startup looking to expand into Credit Cards-as-a-Service with its latest investment. With nearly $90 million in new funding landing at B2B FinTechs this week, investors showed off a diverse range of focuses, from procure-to-pay to small business payments.

B2B 91

B2B Banking Foreign Exchange Startups 91

PYMNTS

JANUARY 9, 2020

Lenders including Barclays, HSBC, Royal Bank of Scotland and Virgin Money had to stop foreign currency services after exchange provider Travelex was hit by a ransomware gang, according to reports on Thursday (Jan. Travelex’s network of branches continue to provide foreign exchange services manually.”.

Currencies 52

Currencies Foreign Exchange Banking Securities 52

PYMNTS

APRIL 16, 2020

Customers at Deutsche Bank ‘s Bangkok branch will soon have access to electronic payments via the bank’s PromptPay service, according to reports. Deutsche Bank achieves PromptPay by combining instant payments with API technology in order to create “interactive” experiences.

Foreign Exchange 91

Foreign Exchange Currencies Banking Technology 91

PYMNTS

OCTOBER 8, 2019

Citi has recruited foreign exchange management firm Kantox to enhance its FX services for corporate clients, the companies said in a press release on Monday (Oct. According to Kantox, the company will provide its FX management and business payment solutions to Citi Commercial Bank’s international businesses based in the U.S.,

Foreign Exchange 74

Foreign Exchange Treasury Currencies Banking 74

PYMNTS

MAY 19, 2020

BlockFi said it was “able to confirm that no funds, passwords, social security numbers, tax identification numbers, passports, licenses, bank account information, nor similar non-public identification information was exposed as a result of this incident.”. dollars and Ukrainian hryvnias.

Foreign Exchange 84

Foreign Exchange Currencies Securities Numbers 84

Global Finance

SEPTEMBER 3, 2024

Ghana’s decision to exclude international banks from funding cocoa production may have opened opportunities for its domestic financiers and traders to invest in the sector, but analysts fear that the move leaves the country’s currency, the Cedi, vulnerable to weakening.

Foreign Exchange 73

Foreign Exchange Currencies Education Manufacturing 73

PYMNTS

APRIL 7, 2020

Open banking efforts are live in countries ranging from the United Kingdom to Singapore. Financial institutions (FIs) following these initiatives make their application programming interfaces (APIs) publicly available, which third-party developers can use to create solutions that draw on banking data from consenting users.

eCommerce 63

eCommerce Banking Foreign Exchange B2B 63

PYMNTS

SEPTEMBER 1, 2020

Working in conjunction with stablecoin payment and foreign exchange platform Stablehouse , the idea was started last year but expedited due to its newfound importance after the pandemic hit. Users could then make smaller transactions online with the bank's mobile app, CoinDesk reported.

Foreign Exchange 82

Foreign Exchange Construction Currencies Startups 82

PYMNTS

AUGUST 29, 2018

The currency decline continues: The Swedish krona fell Wednesday (Aug. The decline comes amid political uncertainty in that Nordic country, the prospect of a widening trade war that could hurt it and increasing attention to the benefits of currency hedging among commerce and payments businesses. Such lows were last seen in 2009.

Currencies 46

Currencies Foreign Exchange Profit and Loss Banking 46

PYMNTS

AUGUST 7, 2020

One of the largest points of friction that shoppers grapple with today is the ever-fluctuating exchange rate of foreign currencies they use when purchasing from sellers across borders. Sheley also highlighted the recent rise in neobanking as a key driver of the growing sophistication of consumer demands.

Foreign Exchange 120

Foreign Exchange eCommerce Retail Currencies 120

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

DECEMBER 1, 2019

French startup Pixpay is the first challenger bank to cater to teens, offering a debit Mastercard for cashless payments, news outlets reported on Friday (Nov. Challenger banks are typically marketed to adults. Foreign currency transactions cost 2 percent in foreign exchange. Pixpay costs €2.99 million (€3.1

Banking 60

Banking Foreign Exchange Startups Education 60

PYMNTS

MARCH 26, 2019

Globalization and easing barriers to international expansion aren’t simply changing the way corporates manage foreign exchange exposure. This is especially true for SMEs who cannot run the risk of losing 30 percent of revenue on a currency depreciation.”. In 2016, researchers at Coversy revealed the majority of U.K.

Foreign Exchange 69

Foreign Exchange Currencies Cash Management Profit and Loss 69

Simply Treasury

JUNE 3, 2021

Finally, in this top tier, the management of financial risks, including currency risk, which can be explained by the increased volatility of the markets. API’s have shown the use banks and corporates can make out of them. Contrary to the recent excitement for Bitcoins, crypto currencies do not seem to be a priority for treasurers.

Cash Flow Forecasting 130

Cash Flow Forecasting Treasury Forecasting Foreign Exchange 130

PYMNTS

APRIL 5, 2016

Uphold isn’t a bank, and it’s aiming to disrupt the traditional financial services industry. Last week, Uphold announced a partnership with India’s IDFC Bank, a move that allows Uphold’s business and consumer customers to conduct cross-border transactions to and from the home of the world’s fastest-growing economy.

Banking 73

Banking Foreign Exchange Currencies Forecasting 73

PYMNTS

AUGUST 21, 2020

Yet as cross border trade picks back up, the foreign exchange and global payments needs of businesses will intensify. FXPress entered the market with a focus on cross-border payments and foreign exchange services. Beyond Payments Initiation. “But payments is just one side of the equation,” noted Conibear.

Finance 69

Finance Foreign Exchange Currencies Banking 69