Wed.Oct 23, 2024

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Banks Seek Ways To Manage Data Quality For AI Services

Global Finance

The use of AI in finance has been a hot topic at this year’s Sibos conference, as banks consider how AI can transform the way financial services are delivered and consumed, and, more urgently, how its data is managed. The use of Large Language Models (LLMs) to increase efficiency, improve customer service, and enhance decision-making has been part of the conversation since the launch of ChatGPT by OpenAI in November 2022.

Banking 111
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Most finance leaders believe sustainability targets out of reach: EY

CFO Dive

CFOs leading companies active in the U.S. and Europe face a “fluid picture” when attempting to meet regulations for sustainability reporting, EY said.

Finance 300
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Trending Sources

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J.P. Morgan Mints ‘Always-On’ Clearing

Global Finance

J.P. Morgan has just announced a new global clearing offering, Wire365, that supports the complete range of global US dollar wire products and operates 24/7, seven days a week. “Although our clearing systems, like the [US Federal Reserve’s Fedwire], don’t currently operate 24/7 when they do, we will be ready,” says Gayathri Vasudev, global head of cross-border payments at J.P.

Banking 107
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IRS CFO says robotic automation saved 30,000 labor hours

CFO Dive

Partnering with software firm UiPath, the agency has tapped software robots to complete previously manual tasks, IRS CFO Teresa Hunter said Tuesday.

CFO 300
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Automation, Evolved: Your New Playbook For Smarter Knowledge Work

Speaker: Frank Taliano

Document-heavy workflows slow down productivity, bury institutional knowledge, and drain resources. But with the right AI implementation, these inefficiencies become opportunities for transformation. So how do you identify where to start and how to succeed? Learn how to develop a clear, practical roadmap for leveraging AI to streamline processes, automate knowledge work, and unlock real operational gains.

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HSBC Simplifies Trade Finance For Chinese SMEs

Global Finance

HSBC announced at Sibos on Wednesday that it is expanding the trade financing solutions it offers to businesses trading on e-commerce platforms in mainland China and Hong Kong, following the successful launch of its collaboration with Dowsure Technologies. Small and midsized enterprises (SMEs) typically face challenges securing trade finance, but by using real-time commercial data through Dowsure, HSBC can offer finance to sellers based on their transaction data.

Finance 104

More Trending

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Quantifying (More Accurately) The Real Impact Of A Financial Advisor’s Costs On Their Clients’ Nest Eggs

Nerd's Eye View

While the financial advice industry has transformed in many ways over the past several decades, one aspect that has remained relatively constant is the use of the Assets Under Management (AUM) fee model as a common way for many advisors to get paid. Though in practice, while a 1% AUM fee is a common 'starting point' in the industry, the actual fee structure can vary based on the firm's approach; for example, some firms may reduce the fee for high-net-worth clients, or charge an additional fee fo

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CFO competence ranked as a top factor in investor decisions

CFO Dive

Investors are willing to increase their initial investment in an organization by an average of 2.6% when the CFO is the key strategic growth driver, OneStream found.

CFO 282
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Cash transactions decline rapidly in India as digital payments surge: RBI economist

CFO News

In the last three years, digital transactions have surged in such a fashion in India that cash usage, which still accounts for 60 per cent of consumer expenditure (as of March 2024) is rapidly declining, according to a paper by the Reserve Bank of India (RBI) economist.

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Accountability in Finance Teams, Methods and Benefits

CFO Talks

Accountability in Finance Teams, Methods and Benefits Accountability is a big deal in any business, but for finance teams, it’s especially important. When everyone in the team knows what they’re responsible for and owns their tasks, things run smoothly. So, how can you build accountability in your finance team, and what are the benefits of doing so?

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Data Talks, CFOs Listen: Why Analytics Is The Key To Better Spend Management

Speaker: Claire Grosjean

Finance teams are drowning in data—but is it actually helping them spend smarter? Without the right approach, excess spending, inefficiencies, and missed opportunities continue to drain profitability. While analytics offers powerful insights, financial intelligence requires more than just numbers—it takes the right blend of automation, strategy, and human expertise.

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ICAI refutes NFRA's legal violation claims, asserts new quality management standards are not auditing standards and within its remit

CFO News

ICAI stands firm that it has diligently followed all due legal processes to issue the new Standards on Quality Management (SQMs) and highlighted that SQMs are not auditing standards, countering NFRA's allegations of illegality.

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At the Money: Building a Bond Ladder

Barry Ritholtz

 At The Money: BlackRock on Building a Bond Ladder (October 23, 2024) Full transcript below. ~~~ About this week’s guest: Karen Veraa is a Fixed Income Product Strategist within BlackRock’s Global Fixed Income Group focusing on iShares fixed-income ETFs. She supports iShares clients, generates content on fixed-income markets and ETFs, develops new fixed-income iShares ETF strategies, and partners with the iShares team on product delivery.

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BRICS nations agree to boost trade, financial settlement in local currencies

CFO News

BRICS nations have decided to boost trade using local currencies and explore new financial infrastructures. They agreed to study the feasibility of an independent cross-border settlement system and establish a BRICS reinsurance company. The New Development Bank will also be developed further. They emphasized financial cooperation and inclusion in financial transactions.

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ION connects to newly launched FMX Futures Exchange to support execution and post-trade clearing

Reval

LONDON – 23 October 2024: ION, a global leader in trading and workflow. The post ION connects to newly launched FMX Futures Exchange to support execution and post-trade clearing appeared first on ION.

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What Your Financial Statements Are Telling You—And How to Listen!

Speaker: David Worrell, CFO, Author & Speaker

Your financial statements hold powerful insights—but are you truly paying attention? Many finance professionals focus on the income statement while overlooking key signals hidden in the balance sheet and cash flow statement. Understanding these numbers can unlock smarter decision-making, uncover risks, and drive long-term success. Join David Worrell, accomplished CFO, finance expert, and author, for an engaging, nontraditional take on reading financial statements.

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The five-phase, best-practice approach to improve FP&A management reporting

Jedox Finance

Best practices and greater technology utilization can help organizations enhance management reporting, increasing operational insight, strategic decision-making, and business value. Mastering management reporting What is the financial status? What are the key attention points? What can we do about it? How can you back that it’s a good idea? How do we get started?

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Finastra unveils loan IQ simplified servicing solution

Future CFO

Finastra launched its Loan IQ Simplified Servicing solution, bringing together the functionality that financial institutions need to service their entire loan portfolios in one integrated system. According to a press release, the financial services software applications provider take the rich functionality available in its Loan IQ and combines it with a streamlined user interface optimised for servicing high volume bilateral and SME loan portfolios.

Finance 52
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Adapt and Excel: CFOs Changing Industry Landscape

CFO Thought Leader

This article originally appeared on Forbes.com CFOs often build their careers within a specific industry, leveraging their accumulated expertise to navigate complexities and add value over time. This steady climb enables finance leaders to deepen their understanding of industry-specific regulations, operations, and customer behavior. However, a daring segment of CFOs seeks opportunities beyond familiar territory, charting new paths across industries.

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Forecasting Tools, choosing the Right Fit for Your Business

CFO Talks

Forecasting Tools, choosing the Right Fit for Your Business As a CFO, you know that forecasting is crucial to business success. Whether you’re anticipating future cash flows, preparing for market shifts, or managing your company’s resources, having the right forecasting tool can make all the difference. In today’s fast-paced business environment, relying on spreadsheets alone is no longer enough.

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Forecasting Failures Are Costly: Heres How To Fix Them

Speaker: Dave Sackett

Traditional budgeting and forecasting methods can no longer keep pace with today’s rapidly evolving business environment. Static budgets, rigid annual forecasts, and outdated financial models limit an organization’s ability to adapt to market shifts and economic uncertainty. To stay ahead, finance leaders must leverage a future-forward approach—one that leverages real-time data, predictive analytics, and continuous planning to drive smarter financial decisions.

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What to Do If You’re Struggling with Equipment Loan Payments

Commercial Credit Group

Business was going great, and you needed more equipment to meet demand. You financed that purchase with a loan through CCG. But now business has slowed and you’re struggling to meet your financial obligations. What do you do?

Finance 52
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How finance professionals should navigate nature-related reporting

Future CFO

Accountants have a crucial role to play in terms of the concepts, principles, challenges and opportunities of nature-related reporting. The Association of Chartered Certified Accountants deemed these professionals as 'stewards of organisational resilience and enablers of trust and transparency between organisations and financial markets'. In a recent report by the ACCA, titled Empowering business: navigating nature-related reporting , they call on accountants to get to grips with this matter as

Finance 52
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India cannot risk another bout of inflation: RBI Governor Shaktikanta Das

CFO News

India cannot risk another bout of inflation and the best approach would be to remain flexible and wait for more evidence of inflation aligning durably with the target, Reserve Bank Governor Shaktikanta Das observed in the last meeting of MPC while also noting that the Indian economy presents a picture of stability and strength and that the balance between inflation and growth is well-poised.

Banking 45
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India continues to be world's largest growing economy: IMF director

CFO News

India is set to continue as the world's fastest-growing economy with projected growth at 7% in FY24-25, driven by strong macroeconomic fundamentals and rural consumption recovery. The IMF's Krishna Srinivasan highlighted necessary reforms in job creation, labor codes, trade barriers, infrastructure, and education to maintain competitiveness and tackle challenges like low female labor participation and youth unemployment.

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Are Robots Replacing You? Keeping Humans in the Loop in Automated Environments

Speaker: Erroll Amacker

As businesses increasingly adopt automation, finance leaders must navigate the delicate balance between technology and human expertise. This webinar explores the critical role of human oversight in accounts payable (AP) automation and how a people-centric approach can drive better financial performance. Join us for an insightful discussion on how integrating human expertise into automated workflows enhances decision-making, reduces fraud risks, strengthens vendor relationships, and accelerates R

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Indian ceramic tiles industry thrives domestically but struggles in export markets: ICRA report

CFO News

This decline comes in the wake of investigations launched by the US Department of Commerce in May 2024 into ceramic tile imports from India, raising concerns about the future of exports in an increasingly competitive global market.

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IMF sees major manufacturing shift towards India & China

CFO News

The IMF's latest World Economic Outlook report highlights significant shifts in global manufacturing towards emerging markets like India and China. It projects India's GDP growth to moderate to 7% in 2024 and 6.5% in 2025 as pandemic-induced demand wanes.

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Nvidia CEO targets more India growth through fresh partnerships

CFO News

India has emerged as a potentially major AI arena, with the country of 1.4 billion adopting the technology in industries including agriculture, education and manufacturing to boost efficiency. While still a small part of their revenue, global tech companies from Nvidia to Microsoft Corp. and Meta Platforms Inc. are betting on the rapidly-growing economy as a growth market and operations base.

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Indian bond ETFs to draw billions as Amundi to BlackRock join race

CFO News

Major asset management firms like BlackRock, Amundi, and Janus Henderson's Tabula have launched new ETFs focused on Indian debt following JPMorgan's inclusion of Indian bonds in its emerging-market index. This is expected to attract $5 to $10 billion, with professionals driving initial interest.

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Book of Secrets on the Month-End Close

Based off SkyStem's popular e-Book, the book of secrets to the month-end close will be revealed in this one-hour webinar. Learn leading practices when it comes to building a strong and sustainable month-end close that has room to grow and evolve. Learn about the power of precise estimates, why reconciliations are critical to closing the books, how and when to automate, and how the chart of accounts play into your close process.