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

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. The most significant benefit of automation will be increased transparency.

Foreign Exchange 93

Foreign Exchange Currencies Economics Banking 93

PYMNTS

APRIL 29, 2020

New solutions continue to roll out as a result of open banking frameworks around the world and banks’ increasing willingness to collaborate with FinTechs. This week’s look at the latest in bank-FinTech collaborations reveals two new open banking initiatives from FinTechs designed to address back-office friction for banks.

Banking 95

Banking Foreign Exchange Invoicing Finance 95

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

DECEMBER 28, 2018

The Central Bank of the Russian Federation (CBR) announced that it has revoked the licenses of five Russian foreign exchange (FX) trading companies. The move will give major local banks control of the market. 27, and must stop all operations and return funds to their customers by that time.

Foreign Exchange 87

Foreign Exchange Banking Compliance Securities 87

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

CFO News

NOVEMBER 25, 2024

The Reserve Bank of India has substantially increased its gold reserves, offsetting foreign investment outflows. This aligns with a global trend of central banks accumulating gold amidst geopolitical uncertainty.

Foreign Exchange 45

Foreign Exchange Banking Investments 45

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

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

AUGUST 7, 2020

Many are demanding seamless, instant transactions that they can complete with their smartphones, but enabling these experiences comes with challenges, according to Vikram Dewan , chief information officer of Deutsche Bank ’s corporate banking division. Growing numbers of FinTechs are also forcing banks to innovate or be left behind.

Banking 120

Banking Foreign Exchange SAP Entertainment 120

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. That’s B2B Connect.”. “If

Foreign Exchange 100

Foreign Exchange Treasury Currencies B2B 100

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

SEPTEMBER 21, 2020

In today’s top news in digital-first banking, Next Insurance is aiming to raise new capital that would value the FinTech startup at $2.25 billion, and FLEETCOR has come to an arrangement to purchase cross-border payment company Associated Foreign Exchange (AFEX). FLEETCOR Buys AFEX To Boost Cross-Border Payments.

Foreign Exchange 89

Foreign Exchange Banking Nonprofit Valuation 89

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

PYMNTS

OCTOBER 6, 2020

Bank of America is rolling out three new application programming interfaces (APIs) as it supports the growing demand for up-to-the-moment data and processing in business treasury. The new APIs help with foreign exchange (FX) settlement, obtaining check images and retrieving reports, according to a Tuesday (Oct. 6) announcement.

Treasury 75

Treasury Foreign Exchange Banking Reconciliations 75

PYMNTS

NOVEMBER 3, 2020

Statrys is a payment offering is targeted to small and medium-sized businesses (SMBs), entrepreneurs and upstarts that need flexible banking and developed foreign exchange offerings that can let them expand around the world.

Foreign Exchange 105

Foreign Exchange Currencies Finance Accounting 105

PYMNTS

DECEMBER 27, 2020

The People's Bank of China criticized Ant on Sunday (Dec. The Chinese central bank's statement came after it had met with representatives of Ant and regulatory officials from the country's securities, banking and foreign exchange sectors, presented as a Q&A with PBOC vice governor Pan Gongsheng.

Concentration 90

Concentration Foreign Exchange Banking Valuation 90

PYMNTS

MAY 9, 2019

European Union antitrust regulators are going to fine seven banks for manipulating the foreign exchange market, according to reports. The banks involved are Barclays, Citigroup, HSBC, JPMorgan, Royal Bank of Scotland, UBS and a smaller Japanese bank. Collectively, the banks have been fined upwards of $2.8

Foreign Exchange 62

Foreign Exchange Banking Marketing B2B 62

PYMNTS

NOVEMBER 12, 2020

It may be an open road for open banking as, three years after the rollout of the second Payment Services Directive (PSD2), bank-FinTech collaborations and new initiatives unlocking bank account data continue to flourish. ThinCats Links Up With Open Banking FinTech Salt Edge. But it may not always be smooth sailing ahead.

Banking 88

Banking Treasury Foreign Exchange Risk Analysis 88

PYMNTS

OCTOBER 1, 2020

As banks look to streamline access to finance or make it easier to safely share financial information with apps, Barclays Business Banking and Wells Fargo are joining forces with FinTechs on digital initiatives. PYMNTS rounds up the latest partnerships and initiatives below. Barclays & Propel. SMBs] are the lifeblood of the U.K.

Finance 91

Finance Banking Foreign Exchange Invoicing 91

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

JANUARY 18, 2021

There have also been shifts in how customers pay for goods and services, with s ocial distancing policies making contactless transactions essential and pushing consumers toward payment methods such as bank transfers and digital wallets. Such touchless payment options are being used alongside traditional ones like credit cards and checks.

Foreign Exchange 127

Foreign Exchange Treasury Risk Management Corporate Finance 127

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

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

JUNE 15, 2020

In addition, the release says the partnership will allow for more visibility on bank fees and better payment routing through the use of Goldman’s advanced machine learning techniques. Terry Beadle , GTreasury’s global head of Corporate Development, said the combination would prove valuable.

Foreign Exchange 99

Foreign Exchange Treasury Currencies B2B 99

CFO News Room

NOVEMBER 1, 2022

I doubt that many among our readers hold central banks in high esteem, save perhaps the researchers and data compliers who soldier away and provide useful information and even sometimes provocative analyses. Some economic historians insist it was “to promote the interests of commercial banks, rather than economic recovery”.

Banking 100

Banking Economics Foreign Exchange Leverage 100

PYMNTS

JULY 9, 2019

In another solution aimed at bank account consolidation, Neo announced today (July 9) that it is expanding its foreign exchange services to include the launch of a multi-currency account after receiving clearance by the Bank of Spain. Open Banking Opportunity. The FX Opportunity.

Foreign Exchange 60

Foreign Exchange Banking Currencies Accounting 60

PYMNTS

APRIL 11, 2019

’s Open Banking market initiative is seeping into the U.S., and into the business banking segment, as financial institutions (FIs) explore ways to improve their B2B services and compete with more agile FinTech firms. Banking-as-a-Service.

Banking 77

Banking Foreign Exchange B2B Risk Analysis 77

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

DECEMBER 9, 2020

The platform aims to help companies get into digital banking and access benefits like collateral-free financing and flexible business management, the release stated. Key features include the aforementioned fully digital business accounts, along with quick application processing, according to the release.

Foreign Exchange 64

Foreign Exchange Banking Finance Accounting 64

PYMNTS

SEPTEMBER 27, 2018

Alibaba Group announced Thursday (September 27) that it signed up with Banking Circle to use its infrastructure and global network for digital payments. We are delighted to partner with Banking Circle. Payments are simply payments,” said Anders la Cour, co-founder, and chief executive of Banking Circle, in the same press release.

Banking 73

Banking Foreign Exchange B2B Technology 73

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

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

JULY 30, 2019

Three consortiums led by Taiwan and Japanese investors are getting the first virtual banking licenses issued by Taiwan’s Financial Service Commission (FSC), Reuters reported on Tuesday (July 30). A third virtual banking license went to Next Commercial Bank, led by Taiwan telecom operator Chunghwa Telecom.

Banking 69

Banking Foreign Exchange eCommerce Marketing 69

PYMNTS

JULY 7, 2017

Banks were once the great riverbed of financial activity. Today, the flow of cash is gradually being diverted through other, third-party channels because of services that are unavailable from banks. By the same token, having options creates insurance, because banks can have a Plan B in place.

Banking 73

Banking Foreign Exchange Securities Leverage 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

JUNE 19, 2020

In an effort to provide complete management of foreign exchange risk, financial solutions provider Profile Software rolled out its Acumen net eFX offering. In separate news, BNP Paribas , the French financial institution, unveiled a FinTech partnership to bolster its foreign exchange service offerings per news in September.

Risk Management 64

Risk Management Foreign Exchange Treasury Banking 64