CFO Share

APRIL 11, 2024

But many fear remote bookkeeping exposes them to security risks – hackers, fraudsters, and embezzlement – especially if the virtual bookkeeping solutions use employees in foreign countries. Bookkeeping security risks are always a valid concern, especially since internal staff perpetrate 57% of small business fraud.

Securities 52

Securities CFO Invoicing Education 52

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

CFO Share

AUGUST 15, 2024

Here’s how small business advice from a CFO can help you secure funding for your business while ensuring your interests are protected. How does a CFO secure business funding? SBA debt is non-dilutive and offers high leverage (up to 90% LTV) but carries higher interest rates and requires extensive due diligence and paperwork.

CFO 52

CFO Securities GAAP Startups 52

PYMNTS

NOVEMBER 16, 2020

Banks have long worked to anticipate and protect against emerging tactics of cybercriminals. Bank , one of the largest commercial banks in the United States. Pre-pandemic, many banks were already headed on a path toward digital migration. Leveraging Advanced Technologies.

Banking 118

Banking Leverage Securities Communication 118

PYMNTS

JANUARY 27, 2021

The banking industry faces many day-to-day business challenges, including competition with digitally native FinTechs and the ubiquitous social distancing restrictions brought on by the pandemic. The Fraud Threats Facing Digital-First Banks. Bot activity is the third major threat banks faced in 2020.

Securities 85

Securities Leverage Construction Banking 85

PYMNTS

DECEMBER 29, 2020

Debit solutions draw on funds consumers already have in their bank accounts, and while this makes them reassuring to debt-wary consumers, it can have implications if these details are snatched by fraudsters. Getting security right also means balancing customers’ security and privacy concerns. Around The Next-Gen Debit World.

Banking 121

Banking Leverage Securities Economics 121

PYMNTS

NOVEMBER 27, 2020

Remote onboarding has overtaken (some might say overwhelmed) banks and merchants all year long as a deluge of faceless applicants opened accounts and cards. Per the November Tracker , “Many banks, utility companies and government agencies have been leveraging two-factor authentication (2FA) for several years. Phone Call For You.

Securities 107

Securities Prioritization Numbers Accounting 107

FISPAN

FEBRUARY 9, 2022

Now more than ever, banks have a myriad of digital opportunities to explore a better banking future. Driven by growing consumer demands, increasing regulatory changes, and the proliferation of API integrations, Open Banking has proven to be a promising market for Financial Institutions (FIs) worldwide.

Banking 97

Banking Leverage Accounting Economics 97

PYMNTS

DECEMBER 6, 2020

MonetaGo , which specializes in blockchain technologies, and GUUD Company , which focuses on making international trade smooth, have teamed up on international financial transaction security, MonetaGo announced in a press release. Both companies are based in Singapore. Going paperless has to happen.”.

Securities 82

Securities B2B Leadership Finance 82

Global Finance

JULY 29, 2024

Nonbanks have eaten into traditional banks’ marketplace. Can the older banks retake lost ground by simply becoming more agile? Once upon a time, banking was simple: Take deposits, use depositors’ money to make loans, and transfer payments between clients and earn a commission. All three pillars are now under assault.

Banking 59

Banking Profit and Loss Financial Systems Technology 59

CFO News

SEPTEMBER 15, 2024

Challa Sreenivasulu Setty, the new chairman of State Bank of India, is aiming to leverage the bank's extensive network and brand to attract more deposits while managing risks in infrastructure financing.

Banking 40

Banking Leverage Finance Securities 40

PYMNTS

JULY 13, 2020

This fraud type occurs when bad actors seize control of victims’ bank or online merchant accounts and spend ill-gotten funds, and it is likely to become more frequent until FIs can demonstrate that their defenses are strong enough to deter criminals’ attempts. Understanding ATOs. Detecting And Thwarting Attacks.

Leverage 58

Leverage Accounting Securities Banking 58

Global Finance

JUNE 6, 2024

Citibanamex In 2023, Citibanamex released several outstanding consumer banking innovations to improve user experience (UX). It also stood out for the use by the Hong Kong Monetary Authority’s central securities depository, the Central Moneymarkets Unit, of the bank’s digital assets platform, HSBC Orion.

Banking 59

Banking Prioritization Treasury Finance 59

Global Finance

JUNE 6, 2024

Among the arrows in the bank’s quiver is NedSnap, a robotic process automation (RPA) platform that supports Nedbank’s employees by facilitating more-effective communication and timely results. It has already saved the bank the equivalent of five full-time employees across Singapore and neighboring regions.

Banking 52

Banking Benchmarking Leverage Prioritization 52

PYMNTS

OCTOBER 15, 2020

These difficulties are due to a process called correspondent banking, in which transactions must also be funneled through multiple financial institutions (FIs) before they reach their final destinations. Banks and FinTechs are entering into new partnerships to take advantage of this gro wing demand for cloud technology.

Banking 91

Banking Leverage Treasury Securities 91

PYMNTS

SEPTEMBER 23, 2019

Bank of America has announced that it has joined the Marco Polo Network , the leading trade and working capital finance network. The network — and its more than 25 member banks — aims to unlock a potential $1.5 trillion opportunity in global trade finance, according to a press release.

Leverage 59

Leverage Finance Banking B2B 59

PYMNTS

MARCH 23, 2018

In financial services today, security and innovation can work with each other, and against each other. But customers’ constant demand for cutting-edge products and services is adding to the load of already heavy security burdens. Passwords remain commonplace, despite the evolution of security technology.

Securities 74

Securities Leverage Technology Banking 74

PYMNTS

JUNE 5, 2020

Open banking provides opportunities such as upgraded customer convenience and customized financial solutions that can help consumers access bank account details, send payments, manage their budgets and more. Open banking-facilitated apps can offer tailored support, reducing the need for in-person services.

Securities 69

Securities Banking Leverage Accounting 69

PYMNTS

JANUARY 28, 2021

With 6 in 10 financial institutions (FIs) turning to digital channels for customer acquisition and the mobile experiences those customers now expect, digital-first banking is much on the minds of consumers, regulators and, most assuredly, bad actors. Quick And Seamless Security. It’s on banks to deter them.

Banking 97

Banking Budgeting Securities Leverage 97

PYMNTS

NOVEMBER 26, 2020

Many banks, utility companies and government agencies have been leveraging two-factor authentication (2FA) for several years. It appears that these stepped-up verification approaches are warranted, too, as tales of security breaches that have ensnared unsuspecting internet users are rampant. Leveraging phone-based verification.

Securities 69

Securities Leverage Retail Numbers 69

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

Future CFO

JULY 18, 2023

Higher interest rates raise risks for non-bank financial institutions globally, said Moody’s recently. Given higher interest rates and lower growth, distress in the largely unrated non-bank financial institution (NBFI) sector globally could have spillover credit impacts on many other sectors, the credit rating agency noted.

Banking 52

Banking Leverage Risk Management Financial Systems 52

PYMNTS

DECEMBER 7, 2020

You’d be forgiven for thinking that, in banking, the deal is dead. NCR Digital Banking Senior Vice President and General Manager Doug Brown told Karen Webster there will be an acceleration of deal making on the other side of the pandemic, particularly as financial institutions (FIs) recalibrate and expand their digital efforts.

Mergers and Acquisitions (M&A) 113

Mergers and Acquisitions (M&A) Banking Invoicing Leverage 113

PYMNTS

JUNE 25, 2020

This fear of cybercrime comes at a time when banks are exploring open banking systems en masse, which is only exacerbating security concerns. The application programming interfaces (APIs) that fuel open banking are popular targets for cyberattacks, with 473.5 Building Consumer Trust With Open Banking Security.

Banking 91

Banking Leverage Securities Technology 91

PYMNTS

APRIL 22, 2020

Work from home, play games (online) from home, bank from the comfort of your couch — because the bank branches are closed, of course. Jonathan Knudsen , senior security strategist at Synopsys , said in an interview with PYMNTS that a secure, standardized security framework can help various ecosystems move toward 5G with confidence.

Securities 78

Securities Manufacturing Leverage Healthcare 78

PYMNTS

DECEMBER 31, 2020

Here’s another icy factoid from the year of COVID: up to 20,000 bank branches are expected to close before the pandemic is declared done. And the new Tracker goes further, stating that 62 percent of European Union consumers are interested in nixing branch banking for a digital-only experience. Safer, Interactive In-Branch Banking.

Banking 122

Banking Leverage Securities Retail 122

PYMNTS

MAY 1, 2020

Open banking developments were impacting customers’ interactions with their banks before the COVID-19 pandemic. have passed laws or implemented programs over the past two years to put more focus on digital banking and data security, fundamentally changing how online transactions work. with ease, control and security.”.

Banking 98

Banking Securities Finance Leverage 98

PYMNTS

JULY 22, 2019

The RHB Rewards Motion Code, as the bank calls the new offering, offers an alternative to standard cards with a static CVV code that only changes when the card is replaced. A study done by Bank Negara Malaysia showed that upwards of 92 percent of total fraud losses were connected to card payment fraud. “RHB

Securities 43

Securities Banking Leverage Numbers 43

PYMNTS

JANUARY 26, 2021

Fraud and other forms of cybercrime are perennial challenges for digital-first banks and businesses of all types, as their extensive web presences open additional doors that allow bad actors to infiltrate their operations. Digital-first FIs like First Bank instead leverage multiple layers of defense, tailoring each to a specific threat.

Banking 70

Banking Education Leverage Securities 70

PYMNTS

JULY 10, 2020

Open banking comes in several flavors, yet its rise requires robust Know Your Customer (KYC) and Anti-Money Laundering (AML) procedures, Zac Cohen , chief operating officer at identity verification firm Trulioo told Karen Webster in a recent interview. In recent years, we’ve seen the heavily regulated version of open banking in the E.U.,”

Banking 108

Banking Securities Leverage Accounting 108

PYMNTS

MARCH 3, 2020

As part of a broader effort to bring the newest innovations to its operations, the National Bank of Fujairah PJSC (NBF) has teamed with blockchain firm Ripple to enable cross-border payments via the RippleNet platform. The technology allows the bank to tap into Ripple ’s cross-border network and improve its user experience.

Banking 100

Banking Treasury Invoicing Leverage 100

Global Finance

SEPTEMBER 6, 2024

Digital solutions are helping corporates manage global shifts, says Aaron Chiew, head of IBG Digital Channels for the Institutional Banking Group at DBS Bank. We leverage digitalization around four key focus areas for our clients. The first is to simplify relationship onboarding and make banking with DBS even easier.

Leverage 98

Leverage Banking Treasury Invoicing 98

PYMNTS

JUNE 8, 2020

PYMNTS’ June 2020 B2B API Tracker® done in collaboration with Red Hat , observes that recent rapid adoption trends for APIs among banks and financial institutions (FIs) indicate a wolf at the door (Big Tech, challengers), but more so, the realization that customer experience (CX) is the new currency. Cloud Havens and Changing Keys.

B2B 52

B2B Securities Banking Risk Management 52

Global Finance

OCTOBER 8, 2024

But overlending—and US initiatives to extend its security and investment footprint—are challenging its position. Beijing, accordingly, has become more cautious over the past decade, notes Jeremy Stevens, Asia economist at Standard Bank Group in Beijing. China continues to dominate trade with the continent. billion, up 1.5%

Transportation 130

Transportation Economics Investments Restructuring 130

PYMNTS

MARCH 6, 2020

Companies also leverage APIs to connect to third parties, either to call up information or allow these entities to use their data. Banking APIs help accounting software providers’ customers access bank account information within accounting programs rather than juggle multiple platforms and manually fill in financial details, for example.

Securities 52

Securities Leverage Transportation Communication 52

PYMNTS

SEPTEMBER 24, 2020

The ongoing COVID-19 pandemic and its associated social distancing and stay-at-home orders have pushed untold services online for easier consumer access, with banking serving as a prime example. Without in-person interactions with bank staff, account takeovers (ATOs) and customer impersonations are much easier for fraudsters to accomplish.

Banking 82

Banking Accounting Leverage Numbers 82

PYMNTS

MARCH 2, 2020

The hacker exploited a misconfigured security firewall to breach the system and covered her tracks so well that Capital One did not notice the issue for three months. The cloud security space needs to completely rethink its options if such strong systems can still be breached. Traditional Cloud Security Measures Are Not up to Snuff .

Securities 89

Securities Leverage Banking Technology 89