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

SEPTEMBER 15, 2020

SBM Bank India , the Mumbai-based lender, and Mastercard have introduced a premium debit card for high-net-worth customers. Additionally, SBM customers can get preferential personal banking services, such as better rates on savings accounts with monthly interest payouts and competitive foreign exchange rates, the bank said. .

Banking 60

Banking Foreign Exchange Invoicing Securities 60

PYMNTS

DECEMBER 15, 2017

Complex on so many levels, especially when it comes to payments and, more specifically, invoicing, where demands for payment are tracked through paper and electronic means. Flywire’s background in the healthcare and education space, along with its existing invoicing system, helped assist these businesses in new ways.

Invoicing 48

Invoicing Reconciliations Currencies Education 48

PYMNTS

OCTOBER 28, 2020

OpenEnvoy Launches To Provide B2B Invoice Auditing. To help businesses only pay for what they have agreed to buy, OpenEnvoy has been established to offer invoice auditing without intervention. OpenEnvoy contrasts invoices to originating proposals, purchase orders, estimates or bids. 27) announcement.

B2B 56

B2B Foreign Exchange Accounts Payable Invoicing 56

PYMNTS

NOVEMBER 16, 2020

One of the biggest challenges in cross-border trade for any kind of business relates to foreign exchange. A B2B invoice may be issued and paid in one currency, but the recipient of those funds has to convert that money into their local currency. Across Asia, Theaud explained, invoices are often issued in U.S.

Foreign Exchange 56

Foreign Exchange Currencies Manufacturing B2B 56

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 1, 2020

FinTech firms Cobase and Ebury are now working together to roll out Ebury's foreign exchange services on Cobase's multi-banking platform, according to a press release. Cobase works in cloud-based corporate multi-banking solutions while Ebury is backed by Santander Bank and works in cross-border tech and financial management.

Foreign Exchange 58

Foreign Exchange Treasury Reconciliations Invoicing 58

PYMNTS

MARCH 16, 2020

In addition, the deal will allow better reconciliation of payments with the matching invoices. 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

DECEMBER 2, 2019

London specialty business lender Just Cashflow (JCF) is partnering with London FinTech Ebury to roll out foreign exchange (FX) services, Just Cashflow announced in a company blog. . The services put an end to uncertain currency exchange due to Brexit and locks-in rates for future transactions.

Foreign Exchange 52

Foreign Exchange B2B Currencies Invoicing 52

PYMNTS

AUGUST 11, 2020

The connection enables small businesses with a Clear Books account to take invoice payments by credit and debit card, according to an announcement. Business can also see the current payment status on bills, with invoices automatically categorized as paid after clients pay them.

Accounting 65

Accounting Foreign Exchange Invoicing Currencies 65

PYMNTS

MARCH 16, 2016

Foreign currency payments firm Midpoint got a bit closer to its small business accounting partner, Xero, this month when it revealed that not only had they extended their collaborative ties but that Midpoint would also be adding a “Pay Now” button to invoices sent through Xero. Direct Competition.

Foreign Exchange 42

Foreign Exchange Banking Invoicing B2B 42

PYMNTS

DECEMBER 4, 2019

The rise in alternative small business lending players was first viewed as a competitive force against traditional financial institutions (FIs), although some legacy banks eventually embraced the new market entrants with partnerships and acquisitions to bolster their own small business lending activity. The High Street Bank Alternative.

Foreign Exchange 52

Foreign Exchange Currencies Invoicing Banking 52

PYMNTS

OCTOBER 8, 2020

Berlin's Mambu is partnering with New Zealand digital lending platform Ranqx , which will use Mambu's API-first digital banking platform to provide digital lending experiences, loan origination, decisioning and monitoring for small- to medium-sized businesses (SMBs), according to a press release.

Foreign Exchange 56

Foreign Exchange B2B Invoicing Banking 56

PYMNTS

JUNE 11, 2020

The product lets users automate the intake, handling and approval of invoices from different parts of the globe harnessing the same technology and process utilized for domestic bills, according to a Thursday (June 11) announcement. Prior to that time, he worked for Fifth Third Bank and U.S. Bank in product management positions.

Foreign Exchange 52

Foreign Exchange Accounts Payable Invoicing Currencies 52

PYMNTS

JULY 8, 2020

To provide platform clients a greater ability to grow and be transparent with global payments, cloud banking company Mambu and B2B cross-border technology firm Currencycloud have joined forces with an integration, according to an announcement. It is an exciting partnership as we develop our offering and continue to innovate together.”

B2B 56

B2B Foreign Exchange Invoicing Accounting 56

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

AUGUST 18, 2016

Earlier this week, for instance, Hitachi Capital Invoice Finance pointed to threats within global supply chains stemming from the economic uncertainty over Brexit. Hitachi Capital Invoice Finance said alternative lenders and trade finance players could stand to gain from the situation, for example.

Foreign Exchange 40

Foreign Exchange Banking Invoicing Finance 40

PYMNTS

JUNE 7, 2018

THG corporate clients will have access to CIS’s automatic, electronic payment solutions to support payment of utility invoices, the firms said. CSI will deploy its CSI Paysystems payments platform into THG’s Energy Intelligence Software (EIS), a B2B service that enables businesses to manage utility data and invoices.

Foreign Exchange 51

Foreign Exchange Invoicing B2B Education 51

PYMNTS

NOVEMBER 24, 2019

Cross-border payments processing company Veem has announced that it is offering locked exchange rates for foreign exchange payments. The feature will allow small businesses to lock in an exact exchange rate for up to 92 days in advance for incoming or outgoing payments scheduled during that time.

Foreign Exchange 45

Foreign Exchange B2B Invoicing Budgeting 45

PYMNTS

JULY 26, 2016

Small business banking firm Tide positions itself as the “world’s first” mobile-first banking tool for SMEs and boasts its speedy services for small businesses looking to set up a bank account. company charges 20p for every bank payment made. Reports highlighted that Tide is not a bank , though.

Banking 40

Banking Foreign Exchange Invoicing Accounting 40

PYMNTS

MARCH 23, 2020

Facilitating cross-border payments can be problematic for businesses and their partner banks, especially as real-time payment platforms become more popular. These workers will likely still expect fast payments regardless of the markets in which their employers are based. The cross-border payment problem .

Foreign Exchange 61

Foreign Exchange Currencies Valuation Invoicing 61

PYMNTS

FEBRUARY 5, 2020

As the traditional payroll functions recede into the background, handling huge volumes of invoices — for platforms, that can mean thousands of invoices — becomes unwieldy. might take an Excel file out of a performance measurement system and upload the file to its bank. Typically, McGuire stated, a firm operating only in the U.S.

Invoicing 61

Invoicing Accounts Payable Foreign Exchange Currencies 61

PYMNTS

NOVEMBER 13, 2019

to set up card and debit payments for customer invoices and bills. With TransferWise, companies can pay and reconcile multiple bill payments regardless of who they bank with. GoCardless allows for Direct Debit payments and installment payments for invoices.

Foreign Exchange 46

Foreign Exchange Invoicing Auditing Accounting Firms 46

PYMNTS

NOVEMBER 6, 2018

Fluctuating foreign exchange rates are a relatively new phenomenon,” he told Webster. “It No one yet has found a good way to price exchange rates or to price currencies. Costs of goods or services used to produce — well, goods and services — are invoiced in foreign currencies.

Foreign Exchange 76

Foreign Exchange Currencies Invoicing Forecasting 76

PYMNTS

JULY 9, 2020

For others, including AeroPay and Oxbury Bank, the journey involves adding value onto existing rails. The tool enables companies to make payments using their commercial card, while InstaReM receives funds from that card payment, then passes them through to the supplier via bank transfer. ” AeroPay Elevates The Bank Transfer. .

B2B 77

B2B Foreign Exchange B2C Banking 77

PYMNTS

DECEMBER 17, 2019

As open banking frameworks take root in more markets around the globe, the model of data integration continues to also take shape in the business financial services market, particularly impacting micro- and small businesses (and the FinTechs that service them). ” Open Banking’s Cost-Saving Opportunities.

Marketing 52

Marketing Accounts Payable Foreign Exchange Invoicing 52

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

FEBRUARY 11, 2020

And the banks that finance these transactions must trust that what business partners say will happen, has actually happened. Financial institutions (FIs) today face the ongoing threat of trade finance , he noted, pointing to a common tactic of a supplier submitting the same invoice to two different financiers to receive double funding.

Technology 53

Technology Finance Foreign Exchange Invoicing 53

PYMNTS

JUNE 28, 2019

The urgency to develop more efficient infrastructures is being driven by the rise of the global economy, with banks and businesses seeking solutions that enable them to move money between borders swiftly and securely. Italian banking startup illimity will work with German FinTech Raisin on a new cross-border deposit solution.

Foreign Exchange 44

Foreign Exchange B2B Invoicing Nonprofit 44

Reval

JUNE 13, 2017

According to Kerry Logistics Group Treasurer Eddie Mak, Kerry’s previous spreadsheet and paper-based invoicing process for tracking and reconciling intercompany transactions took much manpower for little gain. “We Using Reval, Kerry Logistics increased the transparency and processing time of its intercompany netting operations.

Foreign Exchange 52

Foreign Exchange Treasury Cash Management Invoicing 52

PYMNTS

DECEMBER 21, 2020

The company’s core business is to enable businesses to access payment or collection of major expenses using credit cards where cards are not accepted, such as to pay rent, tax, invoices and payroll. CardUp’s business model is charging the card for payment and delivering funds to the end supplier’s bank account through bank transfer.

B2B 70

B2B Foreign Exchange Accounts Payable Invoicing 70

PYMNTS

NOVEMBER 7, 2019

For consumers, many of these challenges include the need to support card transactions so users don’t have to manually calculate foreign exchange (FX) conversion rates. An announcement on Wednesday (Nov. “There is a huge amount of growth in the recurring business model globally,” he told PYMNTS’ Karen Webster.

B2B 40

B2B B2C Foreign Exchange Invoicing 40

PYMNTS

NOVEMBER 22, 2019

Carriers must provide verification that a load was delivered, submit bills of lading, provide invoices, and provide documents with any claims submitted by their customers. Working with the carrier means allowing that business to gain a holistic view of their outstanding invoices and progress of each transaction.

B2B 43

B2B Invoicing Accounts Payable Foreign Exchange 43

PYMNTS

MARCH 30, 2017

Many small British businesses make invoice payments, pay salaries and manage their treasury accounts overseas.”. billion in hidden bank fees related to cross-border transacting. Last year Western Union Business Solutions released new services for small businesses looking to hedge and mitigate against foreign exchange volatility.

Foreign Exchange 43

Foreign Exchange Prioritization Currencies Treasury 43

PYMNTS

MAY 1, 2018

B2B payments is at the center of efforts to innovate by FinTechs, banks and others, but corporates’ business-to-business payment processes remain complex, erroneous and a deterrent to growth. For more than two-fifths of professionals surveyed, their organizations received more than 2,000 invoices every month.

B2B 47

B2B Invoicing Foreign Exchange Pharmaceutical 47

PYMNTS

JUNE 21, 2018

The bank is reportedly testing an artificial intelligence (AI)-powered bot to support corporate clients and anticipate their needs. Pilot testing for the tool begins next week, reports noted, and while the bank did not disclose how much it has invested in the virtual assistant, the firm has reported that 40 percent of its $10.8

Treasury 44

Treasury Foreign Exchange B2B Invoicing 44

PYMNTS

JULY 26, 2019

With correspondent banking relationships on the decline, financial institutions are looking for new — and faster — ways of moving money around the world, too. Some solution providers like Ripple are introducing new ways to bypass the correspondent banking system entirely. Preparing Banks And Businesses.

Foreign Exchange 64

Foreign Exchange B2B Prioritization Banking 64