March, 2018

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Consumers Paid $34.3B In Overdraft Fees In 2017

PYMNTS

Overdraft fees have reached their highest level since 2009, which was at the end of the Great Recession. Consumers paid $34.3 billion in overdraft fees during 2017 compared to $33.3 billion in 2016, The New York Post reported. Despite the increase, consumers aren’t, in fact, overdrawing their accounts. Instead, Moebs Services says the uptick was caused by credit unions increasing their overdraft fees.

Banking 89
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Five Year Financial Projection Template

The SaaS CFO

Five Year Financial Projection Template – Solving My Pain Creating a five-year financial projection or any long-term financial forecast greater than two years is a time intensive effort. You need to add X number of managers per staff, you need enough sales reps to support bookings, you need more technical support specialists as your customer […].

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HSBC Ready To Test Blockchain Trade Finance

PYMNTS

Banking and financial services firm HSBC says its blockchain-based trade finance solution is ready to launch — in pilot phase, at least. According to Wednesday (Feb. 28) reports by the Global Trade Review , the bank’s senior innovation manager, Joshua Kroeker, held a media call and announced that after developing the trade finance solution for about two years, HSBC is “confident enough to actually do a live transaction” using its blockchain technology.

Finance 79
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Entrepreneurs Know What’s Holding Them Back – And What They Need To Succeed

PYMNTS

A lack of access to capital. The red tape of regulation. The burden of administrative tasks. These are all common reasons why a small business owner may struggle to grow their company, and the latest analysis on the topic certainly points to these factors as having an impact on SMB growth across the world. But the most recent research suggests entrepreneurs are also clear about what is helping them grow, and what they are looking for in terms of technology, professional support and beyond.

B2B 77
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The Human Side of Finance: The Intersectionality of People, Culture, Adaptability, and Resilience

Speaker: Melissa Hurrington

Finance isn’t just about the numbers. It’s about the people behind them. In a world of constant disruption, resilient finance teams aren’t just operationally efficient. They are adaptable, engaged, and deeply connected to a strong organizational culture. Success lies at the intersection of people, culture, adaptability, and resilience. Finance leaders who master this balance will build teams that thrive through uncertainty and drive long-term business impact.

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Amex Files Blockchain Faster Payment Patent

PYMNTS

American Express has reportedly filed a patent related to faster payments and blockchain technology, reports in CoinDesk said. The U.S. Patent and Trademark Office released the patent application filed by American Express Travel Related Services Company, the payment technology firm’s travel unit, which outlines the use of blockchain technology to accelerate payments between two parties.

More Trending

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Mastercard Talks Securing Innovation, And Innovating Security

PYMNTS

In financial services today, security and innovation can work with each other, and against each other. FinServ cybersecurity is, of course, a prime target for innovation. But customers’ constant demand for cutting-edge products and services is adding to the load of already heavy security burdens. At the same time, providers must ensure a positive, consistent customer experience.

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BofA On Using APIs To Boost B2B Payments

PYMNTS

If some is good, more is better. That seems to be the idea among banks both big and small when it comes to APIs , as several players from around the financial services industry recently increased their investment in APIs, rolling out new solutions aimed at making B2B payments more efficient. . But it isn’t all about efficiency. Several financial institutions are turning to APIs to provide their corporate clients with new products and services that deliver flexibility and put them in control. .

B2B 72
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OANDA API Opens Real-Time FX Tech To Third-Party Apps

PYMNTS

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. According to OANDA, the API supports updates to FX rates every five seconds, enabling third-party developers to integrate this solution into their own mobile apps.

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Cloud Elements CEO: Too Many APIs, Not Enough Integration

PYMNTS

APIs – that is, application program interfaces, or bits of code that allow two software programs to communicate with one another – are a hot topic and a hot commodity within financial services, as well as many other spaces. The API defines the correct way for a developer to write a program that requests services from an operating system (OS) or another application.

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Maximizing Profit and Productivity: The New Era of AI-Powered Accounting

Speaker: Yohan Lobo

In the accounting world, staying ahead means embracing the tools that allow you to work smarter, not harder. Outdated processes and disconnected systems can hold your organization back, but the right technologies can help you streamline operations, boost productivity, and improve client delivery. Dive into the strategies and innovations transforming accounting practices.

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UK Bank Industry Trade Group Launches Review Of SMB Mistreatment

PYMNTS

UK Finance , an industry trade association, is launching an independent investigation into the way the market’s banks treat small businesses (SMBs), according to Reuters reports on Thursday (March 29). The group appointed Simon Walker to lead the review, which will specifically look at the way banks handle complaints filed by small business borrowers.

Banking 66
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HSBC Enables PayPal For Supplier Payments

PYMNTS

HSBC is introducing PayPal support for corporate payments across borders. An announcement Thursday (March 29) said HSBC now lets its corporate customers use PayPal for supplier payments via a partnership between the two entities. “Our collaboration with PayPal will significantly expand the payments network accessible to our clients through HSBC, allowing them to send payments to a much wider range of counterparties in a fast and efficient manner,” said HSBC Global Head of Payments in Global Liqu

B2C 65
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How Analytics Can Help Fashion Brands And Retailers

PYMNTS

What does it take for a fashion brand to stay on top of the trends? A lot of market data. But not all brands excel at crawling the web for information relevant to their businesses. “A lot of brands are having a hard time keeping up with the pace of consumer changes,” StyleSage ’s Director of Marketing and Digital Strategy Elizabeth Shobert told PYMNTS in an interview.

Retail 65
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Uphold Rolls Out Support For Ripple’s XRP

PYMNTS

Adding to the list of cryptocurrencies that users can buy or trade on its platform, Uphold has announced that it has added support for Ripple ’s XRP currency. Already, users can exchange digital currencies such as bitcoin, Ethereum and Bitcoin Cash on Uphold, CoinDesk reported. Uphold’s decision comes after the company conducted a Twitter poll that revealed Ripple was the digital currency voters most wanted added to the platform out of four choices.

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Smarter Card Solutions: Meeting the Challenges of Mid-Market Travel & Expense

Our 2025 Center Travel Survey is clear: as corporate travel increases, so does corporate credit cards distribution, and a rise in off-platform travel booking. This 61% rise causes various challenges: compliance, spend control, reporting problems, and a lack of visibility across organizations. To evolve with the ever-changing needs of travelers, decision-makers need a better solution.

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Curing Medicine’s Epidemic Of Noncompliance

PYMNTS

The New York Times wrote in April 2017 that the U.S. was in the throes of an epidemic for which there was not only a cure, but one that would cure every single adult suffering from it. The disease: medication nonadherence. According to data from the National Association of Chain Drug Stores , as many as 30 percent of prescriptions are never filled, and 50 percent of those prescribed for chronic diseases don’t take their medication properly.

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How Affirm Wants To Push ‘Honest Financing’ Into Physical Retail

PYMNTS

Despite the nearly continuous drumbeat of doom and gloom from the world of physical retail, there is, according to Affirm CRO Rob Pfeifer, something of a curious side phenomenon unfolding at the same time: Online brands – famous and famously successful online brands – are branching out into physical retail. “Brands are moving to the real world for a reason,” Pfeifer said.

Retail 64
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Whole Foods May Test 10 Percent Prime Discount

PYMNTS

It’s possible that Amazon Prime members may see more discounts at Whole Foods. The grocer reportedly displayed signs that advertised 10 percent discounts for prime members at a store in Texas, CNBC reported. The signs were reportedly placed in a store in Austin on Wednesday (March 28). But the signs had apparently been removed by Thursday (March 29).

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NACHA And IFX Forum Join Forces To Boost API Development

PYMNTS

NACHA and the Interactive Financial eXchange (IFX) Forum have announced plans to combine their organizations to improve the development of standardized Application Programming Interfaces (APIs). The partnership, which is expected to be finalized at the end of the first quarter, will speed up the creation and rollout of standardized banking APIs. “The powerful combination of IFX Forum’s established leadership in financial industry standards, along with additional technical expertise in the area o

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Bringing AI to Finance: How to Leverage Technology for Efficiency and Control

Finance teams are balancing more than ever, but manual processes shouldn’t slow you down. In this ebook from BILL, discover how AI is transforming finance—automating AP, expense tracking, and document management to reduce errors, increase efficiency, and improve financial control. Learn how real companies are using AI-powered automation to streamline workflows, detect anomalies, and gain deeper insights.

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Amazon, Walmart Announce New Blockchain Ventures

PYMNTS

Blockchain is now an official word in the Merriam-Webster dictionary. Of course, the FinTech industry doesn’t have to look it up, but the dictionary now defines blockchain as a technology that enables the keeping of records of financial transactions in a digital database as part of a publicly accessible network. The addition of blockchain to the dictionary is symbolic of the technology’s continuing proliferation.

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Feds File Charges In International Fraud Scheme Involving A Picasso

PYMNTS

For their alleged roles in a massive stock fraud and money laundering scam involving a Picasso, the U.S. Department of Justice has criminally charged 10 defendants. Prosecutors named U.K.-based Beaufort Securities Ltd and two of its managers, among others, in the case, according to news from Reuters. Prosecutors said Beaufort and managers Peter Kyriacou and Vinesh Canaye manipulated the prices of U.S. stocks through “pump-and-dump schemes,” while hiding their ownership in the companies.

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TSYS’ McHugh: Why Integrated Payments Is What’s Next

PYMNTS

In technology, and especially in payments, the competitive landscape is a heated one. The question, when eyeing the competition and trying to stay ahead of the curve, usually boils down to “build or buy?” But sometimes the strategy can be tweaked a bit to “buy and build.”. In an interview with PYMNTS’ Karen Webster, Philip McHugh, EVP and president of TSYS Merchant Solutions , laid out the strategy in a space — namely merchant services — that is rapidly evolving, and where TSYS has made a string

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PayPal Files Patent Application To Speed Up Crypto Payments

PYMNTS

PayPal looks to increase the adoption of cryptocurrency as a payment method by recently filing for a patent application. CoinDesk , citing an application with the U.S. Patent and Trademark Office titled “Expedited Virtual Currency Transaction System,” lays out a method by which private keys are traded from buyer to seller in an effort to cut down on the time it takes for payments to go through between a customer and a merchant.

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Say ‘Goodbye’ to Clunky Spreadsheets and Say ‘Hello’ to Month-End Automation

Technology is rapidly changing the way accountants perform and manage month-end activities. Spreadsheets, emails, and shared drives no longer need to slow you down. In under four weeks, your team can start reaping the benefits of month-end close automation by vastly reducing spreadsheets, cut down on reconciliation work, speed up the month-end close, and better manage your remote team.

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How To Battle The Friendly (And Not So Friendly) Fraudster? APIs, Rich Data And Collaboration

PYMNTS

Whether friendly fraud or genuine fraud, for merchants and card issuers, the impact is growing and comes with a host of negative consequences for the entire ecosystem — especially customers. Lost revenues and chargebacks. Friction. Bad customer experiences. And sometimes — in the case of friendly fraud — relationships severed altogether. To that end, on Thursday (March 15) Ethoca debuted its Integrated Solution Suite, which spans offerings across Ethoca Eliminator, Ethoca Alerts and Enhanced Rep

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The AI Method To Fighting Fleet Card Fraud

PYMNTS

Credit card skimmers are a headache for fuel retailers, but there is more than one way that fraudulent actors can target fleet spend. In addition to stolen credentials and skimmed cards at the fuel point-of-sale, employees are often able to overspend with their commercial fleet card products, or file fraudulent expense reports. These tactics cast a wide net of fraud over the fleet card industry – from issuers and acquirers to fleet managers, employers and employees themselves.

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Cascade To Power Crypto Card Loading

PYMNTS

This time last year, if a customer asked Cascade about cryptocurrency loading, the startup had to tell them, “We don’t do that.” Its partner banks weren’t supporting the feature, so neither could Cascade. But as more and more people started asking about it, Founder and CEO Spencer Schmerling began to recognize the big opportunity in front of him. That’s why Schmerling said the startup is now launching a crypto loading capability, among other new services and API enhancements.

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NEW REPORT: Wells Fargo On Leveling Up Its Digital Banking Game

PYMNTS

Online and mobile banking interfaces have become must-have features for financial institutions in the digital age. Fifty-five percent of Americans have a full-service banking app on their phone, and 16 percent check these apps at least once per day. Customers think of these digital offerings as crucial to their banking decisions. More than 50 percent reportedly believe it’s important for banks to provide mobile deposits, P2P services and account openings.

Banking 60
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Outsourcing Vs. In-House: The Ultimate Battle For Better Collections

Speaker: Susan Richards

Your past-due accounts are growing, cash flow is tightening, and the pressure is on. The big question: Do you handle the collections internally or outsource to experts? Both strategies come with advantages and risks - but which one delivers the best impact for your business? In this session we’ll dive deep into the in-house vs. outsourcing debate, examining cost-effectiveness, efficiency, compliance risks, and overall recovery success rates.