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. According to The Wall Street Journal , the reason for their terminations has not been released.

Foreign Exchange 49

Foreign Exchange Currencies Banking Sales 49

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

SEPTEMBER 20, 2020

The expansion and teaming with Western Union Business Solutions will help it reach Western Union's global payments network, which spans 200 countries and territories in over 130 currencies worldwide, the release stated. We are looking forward to working together with this international player in our ecosystem.".

Foreign Exchange 120

Foreign Exchange B2B Currencies Banking 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. Visa, which acquired Earthport in May 2019, said the sale will help to speed up Earthport’s growth of its larger core payments business.

Foreign Exchange 100

Foreign Exchange Treasury Currencies B2B 100

PYMNTS

APRIL 13, 2020

Traffic on Russia’s digital currency exchanges jumped more than 5.5 Qrator Labs, for its part, connected the rising figures with heightened interest in the currency markets. The organization also noted large growth in denial-of-service attacks (DDoS) events on digital currency exchanges.

Currencies 77

Currencies Foreign Exchange Healthcare Compliance 77

PYMNTS

SEPTEMBER 17, 2020

Flywire will work with Mastercard to provide discounted foreign exchange rates on cross-border tuition payments for students, according to a press release emailed to PYMNTS. Students will be able to use their own currencies to pay through Mastercard credit or debit cards.

Foreign Exchange 126

Foreign Exchange Education Reconciliations Currencies 126

Global Finance

JANUARY 9, 2025

Key features include secure global remittance networks, same-day express transfers to BEA Hong Kong accounts, foreign currency time deposits, and real-time foreign exchange services in 11 currencies.

Foreign Exchange 52

Foreign Exchange Currencies Banking Investments 52

PYMNTS

SEPTEMBER 17, 2020

Cloud-based clearing bank ClearBank has begun offering multi-currency bank accounts using an API, according to a press release. Beginning in the fourth quarter this year, the bank will allow users to access over 30 multi-currency accounts. ClearBank will remain in charge of the clients' funds.

Currencies 64

Currencies Accounting Banking Foreign Exchange 64

PYMNTS

FEBRUARY 8, 2017

China’s foreign exchange reserves have slipped below the $3 trillion mark, as measured in January. The foreign exchange regulator, the State Administration of Foreign Exchange, has said that currency reserves are adequate and will continue to provide a level of support to the yuan.

Foreign Exchange 40

Foreign Exchange Currencies Banking Numbers 40

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. Wealth preservation and growth in Africa are highly challenging.

Banking 52

Banking Foreign Exchange Currencies Investments 52

Simply Treasury

JUNE 3, 2021

The accounting treatment of currency hedging (timing) mismatches remains a major problem that has become more acute in the wake of the health crisis. When payments were in foreign currencies, this may have affected their results because of currency hedging. Delay in FX hedging, accounting treatment.

IFRS 130

IFRS Foreign Exchange Currencies Profit and Loss 130

CFO Leadership

FEBRUARY 16, 2022

Use our guide to understand and explore the factors that can make it advantageous to embrace a risk management strategy for foreign exchange. The foreign exchange market can be a highly complex task for small-to-medium enterprises to navigate when conducting business overseas. The Foreign Exchange Market.

Risk Management 52

Risk Management Currencies Foreign Exchange Valuation 52

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. 37.1% | The U.K.’s

Foreign Exchange 40

Foreign Exchange Marketing Currencies Banking 40

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. Western Union’s cross-border, cross-currency money-movement and payments network is available in over 70 countries worldwide.

Foreign Exchange 114

Foreign Exchange Currencies Risk Management Technology 114

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

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 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. AFEX provides services in over 100 currencies and has over 35,000 customers, according to the press release.

Foreign Exchange 121

Foreign Exchange Currencies Accounting Investments 121

PYMNTS

JUNE 27, 2018

Exposure to the risks of endless shifts of foreign exchange (FX) rates keeps executives on their toes: Deloitte recently found FX volatility to be the most common concern among surveyed corporate treasurers. However, foreign exchange risk mitigation goes beyond hedging, said Mark Frey, COO at Cambridge Global Payments.

Currencies 53

Currencies Foreign Exchange Risk Management Profit and Loss 53

PYMNTS

FEBRUARY 8, 2019

marketplace lending company Funding Options is teaming up with Caxton FX to introduce a prepaid multi-currency payment card for small businesses (SMBs). 7), while also helping SMBs save on foreign exchange (FX) costs. Employees who use the prepaid card can have their transactions monitored by managers in real time. .

Currencies 61

Currencies Foreign Exchange Reconciliations Treasury 61

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

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

NOVEMBER 2, 2016

.” SBI Ripple Asia said in the report the banking consortium will look at both technical and operational activities required in domestic and foreign exchange services “to utilize blockchain and other new technologies, consolidate domestic and foreign exchange services and build 24-hour and real-time remittance infrastructure.”

Foreign Exchange 77

Foreign Exchange Banking Currencies Technology 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

MAY 19, 2020

In other news, the government of Iran is aiming to limit digital currency exchanges with so-called “currency smuggling” regulations, CoinDesk reported. The country’s parliament reportedly put forward a proposal to have digital currency as a part of foreign currency and “currency smuggling” rules already in place.

Foreign Exchange 84

Foreign Exchange Currencies Securities Numbers 84

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. enabling those firms to access a custom platform that integrates with Citi’s existing foreign currency payments solution.

Foreign Exchange 74

Foreign Exchange Treasury Currencies Banking 74

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 75

Foreign Exchange Currencies Education Manufacturing 75

PYMNTS

JUNE 17, 2019

Ripple is the company behind the XRP digital currency, The Wall Street Journal reported. MoneyGram has tapped into foreign exchange markets for settlements in the past. As a result, the company had to purchase currencies ahead of time regularly. firm that is publicly traded, Ripple Inc. per share.

Investments 84

Investments Foreign Exchange Planning Currencies 84

PYMNTS

MARCH 9, 2018

Foreign exchange solutions company OANDA is enhancing its application programming interface (API) that opens up its foreign exchange (FX) technology to third-party apps. The company announced news on Thursday (March 8) that its Exchange Rates API has been updated to include real-time FX rates.

Foreign Exchange 70

Foreign Exchange Currencies Treasury Technology 70

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. The financial institution or corporate client gets transparency into fees and foreign exchange rates as well as visibility of payment settlement.

Foreign Exchange 104

Foreign Exchange Banking Treasury Compliance 104

PYMNTS

FEBRUARY 18, 2020

18) that it would improve its Sri Lanka operation with the launch of a new digital foreign exchange (FX) program, reports said. As the world’s supply chains move into settlements in local currency, Deutsche Bank wanted to make sure it offered that service for clients in Sri Lanka. Deutsche Bank announced on Tuesday (Feb.

Foreign Exchange 60

Foreign Exchange Banking Currencies B2C 60

PYMNTS

APRIL 16, 2020

In addition, Deutsche Bank has also made headlines for its work in Sri Lanka helping with a new digital foreign exchange program. That program is intended to keep the bank in line with modernity from other entities, which are beginning more and more to use local currency conversions when operating on cross-border deals.

Foreign Exchange 91

Foreign Exchange Currencies Banking Technology 91

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

DECEMBER 13, 2018

Foreign exchange (FX) volatility can be detrimental to businesses with heavy reliance on cross-border operations. “During the past quarter, exchange rates across the world have been in a state of fluctuation, partly due to trade issues — not just Brexit, but also the U.S. Trade tensions between the U.S.

Foreign Exchange 62

Foreign Exchange Currencies Profit and Loss Finance 62

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

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.

Foreign Exchange 120

Foreign Exchange eCommerce Retail Currencies 120

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

SEPTEMBER 22, 2020

clearing bank ClearBank is introducing multicurrency bank accounts for businesses to move funds based on foreign exchange prices in real time. In a statement, ClearBank Chief Customer Officer Simon Jones said the solution offers a new opportunity for businesses that need to hold and move various currencies for their own customers.

Banking 110

Banking B2B Foreign Exchange Currencies 110